Whether you’re military or a federal employee, there are many good reasons that you should simply say “yes” when it's time to elect survivor benefits. This may be one of the most important financial decisions you will make, and it is not one to make lightly. So, in this episode, Michael, Tommy, and John will be sharing the reasons to consider opting into the survivor benefit program.
Listen in as they explain why you shouldn't be afraid to elect survivor benefits, as well as what it actually costs. You will learn several reasons why someone may not choose to use their survivor benefits, what happens if you do decline your survivor benefits, and what happens if you outlive your spouse in this situation.
Listen to the full episode here:
What you will learn:
- Reasons to say yes to survivor benefits. (1:29)
- The survivor benefit cost. (11:28)
- What happens if you decline survivor benefits. (13:00)
- How your spouse is affected if your pension disappears. (16:30)
Ideas worth sharing:
“Spending money on survivor benefits can actually increase your net worth.” - Mason & Associates, LLC
“If you can’t spell FERS, you’re probably not working with the right financial planner.” - Mason & Associates, LLC
“If you can’t retire on 94% of your pension, then you can’t afford to retire.” - Mason & Associates, LLC
Resources from this episode:
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