Oct 5, 2023
episode of “The Retirement Huddle,” we’re diving into the world of
retirement income gaps. Mark shares his insights on the different
types of gaps individuals may encounter during retirement and how
to effectively prepare for them. From the paycheck gap to the
widow's gap, we’ll discuss the importance of having a comprehensive
income strategy to ensure financial stability and peace of mind in
Here’s some of what we discuss in this
- Paycheck Gap: When retiring, it's crucial to
plan for the gap created when you leave your regular paycheck.
Maximize Social Security benefits and consider investments to fill
the income void.
- Social Security and Medicare Gaps: Retiring
before Medicare eligibility at age 65 can create healthcare
coverage gaps. Explore alternative healthcare options and plan for
short-term healthcare needs.
- Inflation Risk: Inflation can erode your
purchasing power in retirement. Build an inflation-proof retirement
plan to ensure your income keeps pace with rising living
- Long-Term Care Gap: Healthcare costs can become
a significant financial burden in retirement. Explore options to
cover potential long-term care costs, such as alternative insurance
or income streams.
- Widow's Gap: Often overlooked, the income gap
that occurs when one spouse passes away can be substantial. Plan
for this gap to ensure financial stability for the surviving
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