WHY WIVES DIE BROKE
Why Wives Die Broke
By: Robert Martinelli - Reading time: 3:18 Minutes
Your Wife Will Become a Victim of the Spouse’s Trap. Take Steps to Protect Her Today.
In my consulting with couples, it is important to have both partners there with me in the planning stages, as statistics prove that the wife will outlive her husband by perhaps 5 - 15 years and so it’s important that her financial wellbeing be protected after her husband is gone.
It is a fact of life that 80% of men die married.
91% of women die alone.
Retirement is a women’s issue.
All too often I come across financial plans that don’t specifically address the surviving spouse. This can only
lead to the number one fear of all women, running out of money in her lifetime.
Why will this happen?
Because of what I call the Spouse’s Trap.
What is the Spouse’s Trap?
Three bad things happen to the surviving spouse when her husband passes away:
- The surviving spouse will lose 33% to 50% of her Social Security income.
- She is will now pay federal and state taxes as a single person. The single person rate is 100% more than the married, filing jointly rate.
and - And, no one will be there to care for the surviving spouse which most often leads to spending the rest of her life in a nursing home.
To Learn More About the Spouse’s Trap Click Here to Schedule Your 15-minute Chat
Additionally, these three things typically happen towards the end of our lives when the cost of living is at its peak due to inflation. A $100,000 a year nursing home expense today will be $200,000 in just thirteen years. Ouch!
I know with all my heart; this is a serious issue that must be addressed and planned for. Regrettably, I’ve seen the majority of advisors fail to address this issue much too often.
Today, what must you do?
If your current advisor is not talking to you about the Spouse’s Trap or even worse, has no idea what the Spouse’s Trap is, it’s time to find a new advisor.
We’re applying for the job.
Click on the link below to schedule a 15-minute chat to learn how you can protect your wife from the Spouse’s Trap.
PS – the Spouse’s Trap also impacts men should the wife pass away first, however, statistically, our wives carry
this burden on their shoulders.
Robert Martinelli is the principal of Robert Martinelli Tax Planning, a conflict free adviser who represents his clients on a fiduciary basis – putting his client’s needs first.
Robert acts as your lead advisor – coordinating the different professionals to meet your ever-changing needs. The foundation of his work is built around the transition from work to retirement and protecting your lifestyle for the rest of your life.
