Category: Financial Planning

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Q&A: Social Security Secrets, Widow’s Penalty Warnings, and Working in Retirement (Ep. 49)

Q&A: Social Security Secrets, Widow’s Penalty Warnings, and Working in Retirement (Ep. 49)

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What should you know before claiming Social Security benefits?

Do you know the ins and outs of applying for benefits or how working affects your payments? Are you confused about common-law marriage eligibility?

In this episode, I answer listener questions about Social Security benefits, from clarifying the differences between spousal and survivor benefits to explaining the impact of working while receiving benefits and the new identity verification requirements. I also address specific scenarios, including those involving teacher pensions and common-law marriages, to provide clear guidance and help listeners make informed decisions about their retirement.

Tune in as we discuss: 

  • Social Security identity verification changes and how to navigate them
  • Survivor and spousal benefits—understanding your options
  • How taxes impact surviving spouses and the widow’s penalty
  • Insights into working in retirement and making informed choices
  • And more!

Resources:

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How to Pay Taxes in Retirement: What You Need to Know (Ep. 48)

How to Pay Taxes in Retirement: What You Need to Know (Ep. 48)

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What happens when you retire and no longer receive a paycheck? How do you pay your taxes in retirement? 

This week on The Simply Retirement Podcast, I dive into this common concern among retirees. With the tax season freshly behind us, now’s a great time to address how you’ll handle taxes in your golden years.

Key topics:

  • Navigating IRS expectations for tax payments without a regular paycheck
  • Options for tax withholding from Social Security, pensions, and IRAs
  • Understanding marginal versus average tax rates in retirement
  • The advantages of estimated quarterly tax payments 
  • The rule of mandatory 20% tax withholding from company retirement plans
  • The importance of consulting a knowledgeable financial advisor or tax professional 
  • And more!

Resources:

Connect with Eric Blake: 

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Three Game-Changing Social Security Strategies (Ep. 47)

Three Game-Changing Social Security Strategies (Ep. 47)

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Your Social Security decisions can significantly impact your financial future. How can you make the most of these benefits while avoiding common pitfalls?

In this episode, I explore three lesser-known Social Security strategies that could transform your retirement income plan. From timing benefits to maximizing survivor payouts, I give practical advice to help you make informed decisions for a stronger financial future.

Episode Highlights:

  • Withdrawing Social Security applications to correct early filing decisions, including the repayment process and impact on benefits
  • Suspending benefits at full retirement age to increase future payouts or enhance survivor benefits for a spouse
  • Claiming six months of retroactive benefits for flexibility in tax and income planning
  • The tax implications of Social Security strategies, highlighting scenarios where planning minimizes lifetime tax liability
  • The importance of consulting financial advisors who specialize in retirement to tailor strategies to individual circumstances
  • And more!

Resources:

Connect with Eric Blake: 

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Solo Aging & Healthcare Decisions: How Patient Advocates Can Help with Nancy Ruffner (Ep. 46)

Solo Aging & Healthcare Decisions: How Patient Advocates Can Help with Nancy Ruffner (Ep. 46)

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Have you ever wondered how you would navigate the healthcare maze as you age, especially if you’re flying solo? 

Understanding the role of a Patient Advocate might just be the key to planning for your future with confidence and independence.

Join me on the Simply Retirement Podcast as I dive into the world of patient advocacy with Nancy Ruffner, an experienced Patient Advocate and Aging Strategist. Nancy shares insights into supporting individuals navigating complex healthcare decisions and sheds light on the “PIE framework,” an innovative approach to aligning the pieces of your retirement journey.

Nancy discusses:

  • What exactly Patient Advocate is and how they can support you
  • Why and when you should consider hiring a Patient Advocate
  • Navigating the costs and benefits of patient advocacy services
  • Building your retirement support team with the “PIE framework”
  • Exploring the unique challenges and opportunities of solo aging 
  • And more!

Resources:

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Connect with Nancy Ruffner: 

About Our Guest: 

Nancy Ruffner is a Patient Advocate, consultant, and accomplished speaker with a deep commitment to helping others navigate healthcare and aging-related challenges. Through the founding of a patient advocacy agency in 2013 she expanded her career by serving clients and mentoring peers, earning recognition for her expertise and approachable style. Today, Nancy consults online in healthcare navigation, aging matters, and Solo Aging, while inspiring audiences across the U.S. with engaging talks that consistently deliver transformative AHA moments.

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Listener Q&A: Social Security Fairness Act and Optimizing Social Security (Ep. 45)

Listener Q&A: Social Security Fairness Act and Optimizing Social Security (Ep. 45)

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Retirement planning can feel overwhelming, especially when navigating complex systems like Social Security.

Join me as I unravel the pressing questions around Social Security reform, empowering women to take charge of their financial future. From the Social Security Fairness Act updates to the Widow’s Penalty, this episode is packed with actionable strategies to help listeners achieve financial clarity and confidence in retirement.

Tune in to learn about:

  • The Social Security Fairness Act updates, including retroactive payments and accelerated timelines for increased benefits
  • The impact of government pension offsets and spousal benefits, clarifying eligibility for survivor benefits
  • Strategies to address challenges such as the Widow’s Penalty and potential tax implications for single filers
  • The importance of timely applications for Social Security benefits to avoid missing retroactive payments
  • Upcoming initiatives, including the Women’s Retirement Success webinar series, aimed at educating women on financial planning topics
  • And more!

Resources:

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Eric Blake on Senior to Seniors: Simplifying Retirement for Women in Transition (Ep. 44)

Eric Blake on Senior to Seniors: Simplifying Retirement for Women in Transition (Ep. 44)

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Retirement planning can feel overwhelming, especially for women newly managing finances on their own.

How can you build financial confidence, make informed Social Security decisions, and reduce taxes? What steps can help you create a stable future and enjoy retirement without financial stress?

I was a guest on Senior to Seniors with Jim Mazziotti. In this episode, I share insights on retirement income strategies, tax-efficient planning, and the Simply Retirement Roadmap process.

In this conversation with Jim, I talk about:

  • My personal journey into financial planning and why I focus on helping women—especially those who are single, divorced, or widowed—prepare for retirement
  • The key components of his Simply Retirement Roadmap and how it simplifies financial decision-making
  • The importance of Social Security strategies, tax-efficient withdrawals, and retirement income planning
  • How the recently passed Social Security Fairness Act benefits women, particularly widows and teachers
  • Why many people delay financial planning due to fear, and how education and guidance can make retirement decisions easier
  • And more!

Resources:

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Connect with Jim Mazziotti: 

About Jim Mazziotti: 

Jim Mazziotti is a Realtor focusing in SENIOR REAL ESTATE with EXIT Realty Elite, located in Grapevine, Texas He is the former franchise owner/Realtor & principal managing broker, of Exit Realty located in Bend, Oregon. In his thirty-two years in the real estate business he and his team have closed more than 2000 residential and commercial real estate transactions, including residential, resort, senior and luxury properties. Jim has been recognized in the Top 1% in sales and listings and is the recipient of the ‘Esprit de Corps,’ one of EXIT Realty Corp Internationals most prestigious awards. Steve Morris, the founder and chairman of the board for EXIT Realty Corp International characterizes recipients of this award as “shining examples of what EXIT is all about and characterized by their community presence, professionalism and undaunted perseverance.”

Jim holds a number of certifications and designations including the ABR (Accredited Buyers Representative), SFR (Short Sales and Foreclosure Representative), MRP (Military Relocation Professional), SRES, (Senior Real Estate Specialist), REO Default Certified Professional, and is a Coach, Trainer & Speaker with the John C. Maxwell Organization, recognized as the top leadership organization in the world. Jim speaks and trains regularly across the United States and coaches real estate agents with his ‘Mazziotti Real Estate Accountability Coaching’ company.

Jim Mazziotti is a published author of the book titled The Challenge: How 144 Letters Changed My Life, The Life Of My Son And Will Change Your Life Too,” and sits on the Board of Directors for the National Guard Youth Foundation (NGYF) in Washington, D.C..

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Glowing Older: Embracing Aging, Wellness, and Purposeful Living with Nancy Griffin (Ep. 43)

Glowing Older: Embracing Aging, Wellness, and Purposeful Living with Nancy Griffin (Ep. 43)

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Living a fulfilling life as you age requires more than just financial preparation—it’s about embracing your values, fostering intergenerational connections, and planning with intention.

In this eye-opening episode of The Simply Retirement Podcast, host Eric Blake sits down with Nancy Griffin, CEO of Glowing Older and host of the Glowing Older podcast, to challenge outdated ideas about aging and retirement. Together, they dive into the misconceptions surrounding aging, the importance of life planning beyond just finances, and how to break free from ageism. Nancy shares her insights on how to live a fulfilling, purpose-driven life at any stage, emphasizing movement, social connection, and mindfulness as key factors for aging well. Whether you’re preparing for retirement or looking for ways to enrich your later years, this episode is packed with valuable advice to help you take control of your future.

Nancy discusses: 

  • Why the term “anti-aging” is misleading and how to shift your perspective
  • The benefits of intergenerational connections in combating stereotypes and fostering understanding
  • Why life planning—not just financial planning—is the key to a fulfilling retirement
  • The impact of ageism on society and actionable strategies to address it
  • Actionable steps for healthy aging, including physical activity, better sleep, and enriching social interactions
  • And more!

Resources:

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Connect with Nancy Griffin: 

About our Guest: 

Nancy Griffin is on a mission to help older adults live happier, healthier lives. Nancy showcases new paradigms of aging well on the Glowing Older podcast in housing, health, technology, intergenerational connections, purpose, and lifelong learning.

She is also the founder of SeniorTrade, a virtual village for senior living and aging services professionals, and ExposeAgeism, a movement to combat ageism in the spa, beauty, and wellness industries.

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Navigating Estate Planning for Remarriage in Retirement with Amy June (Ep. 42)

Navigating Estate Planning for Remarriage in Retirement with Amy June (Ep. 42)

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Estate planning is crucial, especially for those remarrying later in life.

What happens when life changes and your estate plan doesn’t? 

Amy June, an estate planning attorney focused on helping clients navigate life events, joins Eric Blake to share advice on navigating remarriage, blended families, and protecting your legacy. Learn strategies to ensure your loved ones are cared for while avoiding legal pitfalls.

Amy discusses:

  • The importance of creating or updating your estate plan before or shortly after remarriage
  • Key estate planning documents every individual or couple should have
  • Common challenges with blended families and strategies to address them
  • How to align beneficiary designations with your overall estate plan
  • The role of prenuptial agreements in safeguarding assets and clarifying intentions
  • And more!

Resources:

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Connect with Amy June: 

About Our Guest: 

Amy June is licensed in and serves clients throughout Texas and California, specializing in estate planning and asset protection. She has a wide range of experience in-house with large companies and entrepreneurial startups and as a litigator with an Am-Law 100 law firm. She has seen what the lack of a firm business foundation and effective estate planning can do and has the experience and knowledge so that her clients avoid those expensive, time-consuming, and heartbreaking consequences.

She also has a demonstrated history of working in the community and is highly respected by her peers and clients. She takes a human, empathetic approach, eliminating the fear and intimidation of speaking with a lawyer. She invests time and energy in understanding her clients’ history, goals, and values, and is dedicated to using that knowledge to help people navigate their needs and those of their loved ones, now and in the future.

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Making Divorce Manageable: Financial and Emotional Insights with Neil Palache (Ep. 41)

Making Divorce Manageable: Financial and Emotional Insights with Neil Palache (Ep. 41)

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Going through a divorce is challenging, but the right guidance can transform chaos into clarity.

In this episode, Eric Blake sits down with Neil Palache, founder of The Divorce Transition Professionals and The Wealth Creator Company for Women.

Neil shares his wisdom in helping women navigate pre- and post-divorce financial complexities. From building a professional support network to empowering clients through education, this episode uncovers practical solutions for a smoother transition.

Neil discusses:

  • Supporting women in pre- and post-divorce stages with financial coaching tailored to individual needs
  • Differentiating roles between financial advisors, planners, and coaches to create a comprehensive support system
  • Creating The Divorce Transition Professionals to connect individuals with specialized experts in law, finance, and more
  • The importance of being an advocate for women during divorce to ensure informed and equitable outcomes
  • Providing resources like educational materials, professional networks, and personalized coaching to empower clients during transitions
  • And more!

Resources:

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Connect with Neil Palache: 

About our Guest: 

In 1983 Neil Palache entered the financial services industry as a life and disability insurance consultant. For twelve years he helped hundreds of families and businesses to understand what kind of insurance protection they needed. During this time, Neil saw a need that began to change his focus. Many of his clients were women in need of impartial help to restructure their financial lives so they felt in control and could accomplish more. Neil took his years of experience and designed a practical system that would help women to learn about money issues and to ultimately create their own financial independence. This process is the The Wealth Creator System™ that Neil calls a ‘Get Rich Slowly’ process. Neil is now Founder and CEO of The Wealth Creator Company for Women, Inc. and is dedicated to his new mission.

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Social Security Fairness Act (Ep. 40)

Social Security Fairness Act (Ep. 40)

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The Social Security Fairness Act is a transformative law that eliminates the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), paving the way for millions—especially women in public-sector roles—to access long-overdue Social Security benefits.

In this episode, Eric Blake explores the impact of these changes on retirement planning, addressing listener questions about eligibility, retroactive benefits, and practical steps to maximize financial security under the new law.

Eric discusses: 

  • How the Social Security Fairness Act eliminates WEP and GPO, positively impacting public-sector workers like teachers and firefighters
  • The disproportionate effect of GPO on women, especially widows and divorced individuals, and how the new legislation offers significant financial relief
  • The retroactive nature of the Act, which applies benefits back to January 2024, potentially leading to lump-sum payments for eligible individuals
  • Strategies to maximize benefits under the new rules, including understanding survivor and spousal benefit eligibility
  • Steps to take now, such as applying for benefits, checking eligibility, and consulting financial advisors to adapt retirement plans accordingly
  • And more!

Resources:

Connect with Eric Blake: 

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