Category: Financial Planning

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Social Security: Essential Rules for Women and Divorcees (Ep. 85)

Social Security: Essential Rules for Women and Divorcees (Ep. 85)

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Understanding Social Security can feel complicated, especially when life events like divorce or widowhood come into play. 

In this episode, I join Karen Covy on her podcast, Off The Fence, to walk through the rules that often matter most for women.

We discuss how full retirement age works, how spousal, ex-spousal, and survivor benefits are determined, and what to know about the 10-year marriage rule. Our conversation also covers the Social Security Fairness Act and how it affects certain workers with pensions.

Together, we outline key considerations that can help listeners better understand their options when planning for future income.

Key Topics:

  • How full retirement age determines your benefit amount and why this number is critical to every Social Security decision
  • The difference between spousal, ex-spousal, and survivor benefits, and how remarriage affects your eligibility
  • The 10-year marriage rule for divorced individuals, and what documentation you need to claim benefits
  • How the Social Security Fairness Act eliminated penalties that primarily affected women with pensions
  • Strategic timing considerations when you’re still working and approaching retirement age
  • And more!

Next week, Karen will be joining me on the Simply Retirement Podcast to discuss how women can move forward with strength and strategy after divorce. Make sure you’re subscribed so you don’t miss it.

Resources:

Connect with Eric Blake: 

Connect with Karen Covy: 

About our Guest: 

Karen Covy is a Divorce Coach, Lawyer, Mediator, Author, Speaker, and Podcaster. She coaches busy professionals and business owners all over the world to make clear, confident decisions about their most important relationships. She also helps them navigate through divorce with less conflict, unnecessary expense, and needless drama so that they can create the life they truly desire sooner rather than later. Karen is the author of When Happily Ever After Ends: How to Survive Your Divorce Emotionally, Financially, and Legally. She is also the creator of the online divorce programs, The Divorce Road Map 3.0 and How to Successfully Mediate Your Divorce, as well as the host of the podcast, Off the Fence: Mastering Decision-Making Divorce and More.

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REPLAY: Social Security Fairness Act (Ep. 84)

REPLAY: Social Security Fairness Act (Ep. 84)

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Many people nearing retirement are unsure how recent rule changes might affect what they can receive.

What happens when long-standing limits disappear, and families finally gain access to benefits they were denied for years?

In this special replay, we revisit one of our most crucial and widely discussed episodes of the year: the one focusing on the Social Security Fairness Act.

I walk through the details of the Social Security Fairness Act and highlight its significant impact, especially on survivor and spousal benefits for women across the country. I explain how removing the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) could open new income opportunities. Additionally, I discuss what these potential changes mean for teachers and public sector workers, and the immediate steps listeners should consider taking now.

Key takeaways:

  • How eliminating WEP and GPO shifts eligibility for many women previously reduced or blocked from benefits
  • Why survivor and spousal payments may now be available even if pensions once prevented them
  • How timing, age, and filing strategies still influence benefit amounts
  • Action steps for reviewing statements, applying promptly, and preparing for retroactive payments
  • Why staying informed is essential as Social Security adjusts to this major policy change
  • And more!

Resources:

Connect with Eric Blake: 

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Investing in Retirement – Part 4: Putting the Pieces Together for a Successful Retirement (Ep. 83)

Investing in Retirement – Part 4: Putting the Pieces Together for a Successful Retirement (Ep. 83)

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Retirement planning doesn’t end once you stop working; it evolves. 

In this episode, I wrap up my seven essential strategies for successful investing in retirement, focusing on two of the most pivotal: managing your tax burden and deciding whether to work with an advisor. 

I share how to plan ahead for taxes, the importance of timing withdrawals, and why every woman deserves a seat at the financial table.

Key Takeaways:

  • Why emotional decisions during market downturns often lead to poor outcomes
  • How to manage your lifetime tax liability, not just your yearly one
  • Why your retirement income plan should start 2–5 years before retiring
  • The key questions to ask before hiring a financial advisor
  • The importance of involving both spouses, especially women, in financial conversations
  • And more!

Resources:

Connect with Eric Blake: 

YouTube

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Investing in Retirement – Part 3: The Building Blocks of Your Retirement Portfolio (Ep. 82)

Investing in Retirement – Part 3: The Building Blocks of Your Retirement Portfolio (Ep. 82)

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Investing in retirement requires a completely different mindset, one focused on income, not just preservation.

In this episode, I continue our Seven Strategies for Successful Investing in Retirement series by explaining Strategy #4: Understanding the Role of Stocks in Retirement, and Strategy #5: The Value of Dividend Growth Investing. 

Together, these two approaches show how stocks can generate sustainable income and growth throughout your retirement years.

Key Takeaways:

  • Why stocks shouldn’t be viewed like gambling, and what their long-term record actually shows
  • How a balanced stock and bond mix can fuel income growth over decades
  • The real-world power of dividends to combat inflation and support retirement income
  • Why reacting emotionally during market downturns often hurts long-term outcomes
  • How dividend growth investing can provide ongoing income, compounding, and stability
  • And more!

Resources:

Connect with Eric Blake: 

The S&P 500 Index is an unmanaged index of 500 large U.S. companies. It is not possible to invest directly in an index. Index returns do not include fees or expenses.

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Investing in Retirement – Part 2: Changing the Way You Think About Retirement (Ep. 81)

Investing in Retirement – Part 2: Changing the Way You Think About Retirement (Ep. 81)

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What if the way you’ve been told to protect your money in retirement is actually putting your future at risk?

In this episode, I continue our series on the seven essential strategies for successful investing in retirement. We tackle one of the most misunderstood aspects of retirement planning, defining the real purpose of your portfolio and reframing how you think about risk. This conversation is designed to shift your perspective from fear and preservation to growth and resilience.

Key takeaways include:

  • Why “not running out of money” and “preserving principal” are often conflicting goals
  • The impact of inflation and longevity on retirement income needs
  • A real-life story about my grandmother’s retirement and long-term care costs
  • How the financial crisis illustrates the value of having a retirement “war chest”
  • Risk in retirement as “years of income” rather than portfolio percentages
  • And more!

Resources:

Data References:

  • Average Life Expectancy at Birth (U.S.)

Connect with Eric Blake: 

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Investing in Retirement – Part 1: It Starts with Having a Plan (Ep. 80)

Investing in Retirement – Part 1: It Starts with Having a Plan (Ep. 80)

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Retirement is shifting in ways that require new thinking, new planning, and new strategies.

In this episode, I launch a new series on the seven essential strategies for successful investing in retirement. I explain how today’s retirement looks different than past generations, why the Great Wealth Transfer is so impactful for women, and why starting with a clear financial plan is more important than ever.

In this conversation, we cover:

  • How the retirement landscape has changed
  • Why investing in retirement is different than investing for retirement
  • The Great Wealth Transfer and its impact on women managing wealth for the first time
  • How values and goals form the foundation of your financial roadmap
  • Why a financial plan is the cornerstone of all retirement strategies
  • And more!

Resources:

Connect with Eric Blake: 

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Creating Your Encore Chapter with Joy Levin (Ep. 79)

Creating Your Encore Chapter with Joy Levin (Ep. 79)

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Retirement isn’t just about slowing down. It’s about stepping into a chapter that feels alive with meaning and joy.

In this episode, I speak with Joy Levin, President of Gen X Exec Encore and Certified Professional Retirement Coach, about how Gen X women can reimagine retirement as an encore to life. Together, we explore how to shift from career identity to personal fulfillment, build meaningful relationships, and create a future that truly lights you up.

Joy discusses:

  • The challenges Gen X professionals face when leaving long careers and redefining purpose
  • Her “Mix Tapes to Meaning” framework, built around the five Rs: rewind, remix, reset, reconnect, and revive
  • The role of consulting, volunteering, and passion projects in crafting an encore life
  • How small actions and social connections can transform fulfillment in retirement
  • Practical ways couples can align different visions of their retirement years
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Joy Levin: 

About our Guest: 

Joy Levin is the Founder and President of Gen X Exec Encore. In working with Gen X high-achieving professionals, she recognizes that for many, this next phase isn’t about traditional retirement—it’s about creating an encore that blends passion, purpose, and new opportunities. 

As a market research consultant and entrepreneur for nearly three decades, Joy has guided executives and business owners across industries in making strategic, well-informed decisions. Like many Gen Xers, she wants a future in which she can remain productive, explore meaningful pursuits, and build new connections. With an honest, warm, friendly and highly professional approach, she guides accomplished professionals to discover their next purpose-driven chapter, empowering them to create an encore life with confidence and clarity. 

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7 Smart Giving Strategies for Family and Charities Before Year-End (Ep. 78)

7 Smart Giving Strategies for Family and Charities Before Year-End (Ep. 78)

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The holiday season often inspires generosity, but how you give can make a big difference for both your loved ones and your finances.

In this episode, I explore seven actionable gifting strategies you can use before the year ends to support your children, grandchildren, and favorite charities while also being mindful of tax planning opportunities. I walk through practical examples to help you give with purpose and joy.

Keypoints:

  • The $19,000 annual gift exclusion and how it works with lifetime estate tax limits
  • Gifting appreciated assets like stocks to family or charities to reduce taxes
  • Paying tuition and medical bills directly to providers without gift tax concerns
  • Leveraging 529 accounts, custodial accounts, and new temporary Trump accounts
  • Charitable giving strategies, including qualified charitable distributions and donor-advised funds
  • And more!

Resources:

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Preserving Family Stories and Legacies with Zoe Martin (Ep. 77)

Preserving Family Stories and Legacies with Zoe Martin (Ep. 77)

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Our financial legacy is important, but our stories and memories are priceless. 

This time, we go beyond numbers to focus on preserving the voices, photos, and experiences that define a family’s history.

In this episode, I sit down with Zoe Martin, founder of The Zoe Martin, to talk about the importance of capturing family stories and portraits before it’s too late. She shares her deeply personal journey that inspired her work and offers practical ways anyone can start preserving their legacy today.

Zoe discusses:

  • The personal story of her sister’s passing and how it inspired her mission to record life stories
  • Why families shouldn’t wait to capture stories and memories before they fade
  • The role of legacy in retirement and estate planning beyond finances
  • Practical advice on how to start recording family stories, even with simple tools like a phone
  • The unique process she offers families, from multi-generational portraits to legacy video interviews
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Zoe Martin: 

About our Guest: 

Zoe Martin is a personal historian who’s passionate about helping people and organizations preserve their most important stories. With a heart for visual and narrative storytelling, she creates portraits and videos that document people’s lives into lasting treasures, including heirloom albums, custom wall art, coffee table books, and life story videos.

As a guest on various podcasts and community stages, Zoe shares her insights on why it’s so important to capture and preserve legacies while we still can. Her passion for storytelling is deeply personal, inspired by the memory of her late sister, Kristina. A portion of every project supports The Bridge Breast Network, which provides breast cancer resources to underserved communities in the DFW area.

Zoe’s work helps clients reflect on their lives, strengthen relationships, and leave a meaningful legacy for future generations by encouraging people to make every moment matter. Because Moments Become Memories™

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Rebuilding After Abuse: Finding Strength with Dr. Brooke Jones (Ep. 76)

Rebuilding After Abuse: Finding Strength with Dr. Brooke Jones (Ep. 76)

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What if your most painful experiences could become the foundation for new strength and hope?

In this episode, I sit down with Dr. Brooke Jones, Founder of Stronger Women, to talk about her journey of survival, recovery, and empowerment. She shares her story of leaving abuse, the challenges women face when trying to rebuild their lives, and the importance of financial independence. Together, we uncover how resilience, faith, and hope can transform even the darkest moments into a brighter future.

Dr. Brooke Jones discusses:

  • Her personal journey from surviving abuse to founding Stronger Women
  • How isolation and dependency often mark the beginning of abusive relationships
  • Why leaving abuse often means giving up nearly everything, including financial stability
  • How the science of hope helps women move from surviving to thriving
  • The ripple effects of domestic violence on families, children, and communities
  • And more!

Resources:

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Connect with Dr. Brooke Jones: 

About Stronger Women

Survivors often move on, but are left overwhelmed by shame, fear, low self-esteem and powerlessness. Because LOVE has always come with a promise – and then pain – survivors; feel disconnected and even pain when they hear the word Love, especially the notion, “God loves you.”

Every Stronger session is written for survivors by survivors. This insight an integral piece to understanding the survivors’ journey from hurt to healing through restorative and prevention programs.

The Stronger healing model combines proven curriculum, the power of small groups, and ongoing development of practical tools to restore survivors.

Stronger focuses on exponential growth by equipping certified facilitators to launch restorative healing groups in their local community, church and organization.

As survivors tell their stories, they begin to heal from trauma in a safe and supportive setting. Participants gain: Increased self-awareness, renewed thought patterns, develop healthier coping mechanisms, build resilience, improved self-esteem, establish healthy boundaries, improve family and parenting skills, improved communication skills, and healthier relationships.

We believe it is critical to provide practical tools so everyone can walk alongside these survivors in their healing journey with respect and dignity.

About Dr. Brooke Jones:

Dr. Brooke Jones is a national and international speaker on topics of global oppression of women, domestic & gender based violence and human trafficking. Brooke is wife to Rick, mom of two young kids, and is a two-decade survivor of domestic violence and aggravated stalking.

Brooke earned her Bachelor’s degree in Entrepreneurship, her Master’s degree in Education and in 2016 received an Honorary Doctorate degree in Theology to recognize her contribution and impact through the Stronger Women programs.

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