Episode 113: "Retirement Decisions You Can't Undo: Social Security, Insurance, and More"

Some retirement decisions feel small in the moment but can have lifelong consequences.In this episode, we discuss several of the most important financial decisions retirees face, starting with the question so many people ask: Should I take Social Security now or wait? We also cover key considerations around life insurance in retirement, including common mistakes, beneficiary reviews, and why communication with family is essential.The conversation goes deeper into the emotional side of money, exploring how upbringing shapes financial behavior, why some retirees struggle to enjoy their wealth, and how learning to talk about money can lead to better outcomes. Plus, we answer listener questions on inheriting family property, the role of AI in financial planning, and a practical savings rule for retirement.Chapters00:00 IntroShould You Take Social Security at 62?02:15 Reasons to take it now08:20 Reasons why you should waitLife Insurance Mistakes in Retirement14:35 Reasons to keep your Life Insurance policy17:30 Mistake: Allowing your policy to lapse 20:15 Mistake: Not letting your family know you have a policy23:00 Check your beneficiaries for all your accounts25:10 Tell the truth on your life insurance policy re: hobbies & habitsHow Your Money Mindset Affects Retirement28:40 How our view of money is created30:10 Depression mindset in retirement34:30 Making the wealth vs. Inheriting the wealth36:25 Learning to talk about moneyListener E-Mails40:00 Inheriting family property options44:20 Financial Planning & AI47:40 What’s a good rule for savings for retirement?Ready to plan your retirement? Do you have specific questions for Tom and the team at Mosley Wealth Management? Contact us here   https://mosleywealthmanagement.com/contact/ ===================================================If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1=================================================== ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement- Instagram: https://www.instagram.com/easeintoretirement/- LinkedIn: https://www.linkedin.com/company/mosley-wealth-managementLearn the key components you need to include in your retirement plan:Check this video out: https://youtu.be/QkJzvbZ_gDs#RetirementPlanning #RetirementRisks #RetirementBlueprint #LongevityRisk #MarketRisk #TaxPlanning #Social Security#Retirement #RetirementReady #FinanicalAdvisors #RetirementSavings #Retirement #HowtoPrepareforRetirement #RetirementTips #RetirementStrategyDISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.For more information, visit: www.mosleywealthmanagement.com