Category: Financial Services

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Caring for a Spouse: Navigating the Financial, Legal, and Emotional Journey with Sandy Moss Moder (Ep. 58)

Caring for a Spouse: Navigating the Financial, Legal, and Emotional Journey with Sandy Moss Moder (Ep. 58)

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What happens when love meets life-altering diagnosis and financial pressure? 

For Sandy Moss Moder, it meant stepping into the unknown and documenting every step of the way.

In this episode, I talk with Sandy about her raw and revealing story as a caregiver for her husband battling frontotemporal degeneration. She opens up about the emotional, medical, and financial hurdles she faced—and how her journaling eventually became a published memoir. This conversation shines a light on caregiving, planning ahead, and the power of art and community.

Key takeaways:

  • The early behavioral changes that led to her husband’s FTD diagnosis and the lack of awareness among medical professionals
  • The emotional toll and day-to-day unpredictability of caregiving for a spouse with cognitive decline
  • The financial planning steps she took—including setting up a trust, adjusting Social Security, and building a support team
  • Her process of documenting the disease through journaling, which turned into her memoir
  • The importance of finding the right care facility, asking the right questions, and leaning on senior living advisors
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Sandy Moss Moder: 

About our Guest: 

Sandy Moss Moder, artist, art instructor at Calumet Art Studio, and now author. I found my creative side at a young age, drawing and painting on found paper and book reports, which led to art classes and writing a drawing curriculum I continue to teach. I have a love for interior design, an extension of color and placement. I began writing in junior high through poetry, journals, essays and stories, which led me to write a memoir, “If I Have One More Brain Thing…” I live in McKinney, Texas, with my two spaniels, “the girls”.

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7 Ways to Access Retirement Funds Early Without a Penalty (Ep. 57)

7 Ways to Access Retirement Funds Early Without a Penalty (Ep. 57)

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Accessing your retirement funds early doesn’t have to be a costly mistake.

In this episode, I break down seven ways you may be able to withdraw from your retirement savings before age 59½ without facing that dreaded 10% early withdrawal penalty. 

Whether you’re helping a family member, navigating a crisis, or just need more options, these strategies could offer critical flexibility.

Key points: 

  • The “Rule of 55” and when it applies to 401(k) withdrawals after job separation
  • How SEPP (Substantially Equal Periodic Payments) can be used to create penalty-free income streams before 59½
  • Why Roth IRA contributions are a valuable option for young savers needing access to funds
  • Little-known exceptions like domestic abuse withdrawals and how self-certification simplifies access
  • Using inherited IRAs, education expenses, first-time home purchases, and unreimbursed medical costs as legitimate ways to avoid penalties
  • And more!

Resources:

Connect with Eric Blake: 

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What Will You Do with Your 1,000 Hours a Year in Retirement? (Ep. 56)

What Will You Do with Your 1,000 Hours a Year in Retirement? (Ep. 56)

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Retirement is about more than finances. How will you spend your time?

How do you transition from a life dictated by schedules to one filled with purpose and joy? What steps can you take now to prepare for a fulfilling retirement lifestyle?

In this episode, I explore “The Rule of 1000 Hours” in retirement, explaining how to balance freedom with intention. I offer strategies to avoid aimlessness and craft a life filled with meaningful activities.

Points discussed:

  • “The Rule of a Thousand Hours” and how it can shape your retirement schedule
  • Common problems, like excessive TV watching, and how to avoid them
  • Strategies for identifying energizing activities that align with your passions
  • The value of experimenting with hobbies and creating a flexible retirement plan
  • The importance of practicing retirement to test your financial and time management strategies before the big transition
  • And more!

Resources:

Connect with Eric Blake: 

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Empowering Financial Confidence for Women with Savvy Ladies (Ep. 55)

Empowering Financial Confidence for Women with Savvy Ladies (Ep. 55)

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Financial empowerment transforms lives, especially when women have access to tailored resources and support.

In this episode, I explore the incredible work of Savvy Ladies, a nonprofit dedicated to equipping women with financial knowledge and confidence. Alongside Judy Herbst, Executive Director, and Lisa Zeiderman, Board Chair, we discuss their mission, their groundbreaking helpline, and how their resources are helping women make informed financial decisions.

Lisa and Judy discuss:

  • The inspiring story behind Savvy Ladies’ creation and its mission to aid women
  • How Savvy Ladies utilizes technology to provide free financial guidance
  • The unique, free helpline connecting women with financial experts
  • Overcoming challenges in retirement and gaining financial independence
  • The role of Savvy Ladies in forthcoming wealth transfers and women’s financial empowerment
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Lisa Zeiderman: 

Connect with Judy Herbst: 

About Lisa Zeiderman: 

Lisa Zeiderman is a Managing Partner of the law firm Miller Zeiderman LLP., who focuses her law practice solely in matrimonial and family law. As both an attorney and a Certified Divorce Financial Analyst, she has a wealth of experience, understanding, negotiating and litigating high net worth and/or complex financial matters. She has been lead trial counsel in matters of custody, modification of custody, equitable distribution of assets, child support, alimony, contempt hearings and relocation matters. Lisa obtained her law degree at Fordham University School of Law and then went on to become a Certified Divorce Financial Analyst. She now sits on the Advisory Board of the American Academy of Certified Financial Litigators, and is a member of the Legislative Committee of the Family Law Section for the New York State Bar Association and on the executive board of the Justice Brandeis Law Society. She is also a member of the New York State Bar Association, the New York Women’s Bar Association and the Westchester Women’s Bar Association.

About Judy Herbst: 

Judy Herbst is the Executive Director of Savvy Ladies. She comes to Savvy Ladies with vast knowledge & experience working with women throughout her career. With over 20+ years of relationship-building experience working for the iconic brands’ Tiffany & Co, American Girl, and Worthy.com, Judy creates programs and campaigns that educate and speak to critical issues targeting women, parents, and families.

In March 2021, Savvy Ladies welcomed Judy to spearhead initiates designed to expand Savvy Ladies reach focusing on technology & scalability to serve more women, championing women’s empowerment through financial knowledge.

Judy brings her business acumen and creative, marketing & client relationship savviness along with her proven success record in developing, driving and executing scalable business growth initiatives. She is innovative and a passionate thought leader with success in sales, project and event management, managing teams, hiring, start-ups, coaching, writing, and community building.

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How Social Security Gets Taxed: What You Need to Know (Ep. 54)

How Social Security Gets Taxed: What You Need to Know (Ep. 54)

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Most people think Social Security is straightforward—until taxes show up.

The truth is, what you don’t know about how your benefits are taxed can cost you more than you expect.

In this episode, I explain how Social Security gets taxed and why it hits harder for women filing single later in life. I break down the tax torpedo, walk through real examples, and share strategies to help you keep more of your income in retirement.

Key points:

  • What provisional income is and how it determines whether Social Security benefits are taxable
  • How even tax-free income sources like municipal bonds can increase Social Security taxation
  • The “Social Security tax torpedo” and how small withdrawals can trigger significantly higher taxes
  • Why Roth IRAs and strategic withdrawal planning can reduce the overall tax impact
  • The importance of early preparation, especially for women who may file as single in later retirement
  • And more!

Resources:

Connect with Eric Blake: 

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Q&A: Living Trusts, Social Security, and Protecting Your Retirement (Ep. 53)

Q&A: Living Trusts, Social Security, and Protecting Your Retirement (Ep. 53)

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Retirement planning can feel overwhelming, especially when faced with difficult questions about protecting your assets,  Social Security benefits, and market uncertainties. 

In this episode, I answer listener questions about whether to choose a living trust or a will, explain how Social Security benefits work for widows and divorced women, and discuss how to prepare your retirement income for market ups and downs. I also share practical tips on building a financial safety net and touch on the importance of tax planning through retirement stages.

Key points:

  • The considerations involved in deciding between a will and a living trust, emphasizing the importance of privacy
  • How divorce can affect Social Security benefits, and whether it’s possible to receive higher benefits based on a former spouse’s record
  • The Social Security Fairness Act and how it impacts individuals, specifically teachers, receiving both a pension and Social Security
  • Strategies to preserve your retirement income
  • The conditions under which children can receive Social Security retirement benefits, a topic that is not frequently discussed
  • And more!

Resources:

Connect with Eric Blake: 

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I Have Inherited an IRA—Now What? 5 Steps to Avoid Costly Mistakes (Ep. 52)

I Have Inherited an IRA—Now What? 5 Steps to Avoid Costly Mistakes (Ep. 52)

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Inheriting an IRA can feel like stepping into a financial minefield — but with the right guidance, you can avoid costly mistakes and make the most of your legacy.

How do you know which rules apply? What if you miss a critical tax deadline? What should you do first?

In this episode, I break down the five essential steps every woman should take after inheriting an IRA. I explain how the Secure Act changed the rules, when required distributions apply, and how to think about taxes and investment strategy.

Topics covered:

  • How to determine if you’re a spousal or non-spousal beneficiary
  • The importance of knowing your IRA type: Traditional vs. Roth
  • Required distributions and understanding the fine print of the 10-year rule
  • Tailoring investment strategies to your individual needs post-inheritance
  • Tips for tax-efficient distribution strategies, including qualified charitable distributions
  • And more!

Resources:

Connect with Eric Blake: 

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Medicare Tips and Tricks with Traci Grover (Ep. 51)

Medicare Tips and Tricks with Traci Grover (Ep. 51)

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Choosing a Medicare plan is just the beginning. What comes next can have a big impact on your healthcare and wallet.

In this episode, I sit down with Traci Grover, a seasoned insurance broker with Vital Health Coverage, to help you understand how to get the most from your Medicare benefits. We explore the dos and don’ts of enrollment, bust myths from TV ads, and cover key deadlines and decisions that could affect your long-term costs. 

Traci explores:

  • Essential Medicare enrollment tips
  • The importance of working with an experienced broker
  • The truth behind those flashy TV ads
  • What never to say when asked about your insurance at the doctor’s office
  • Navigating plan changes during annual election periods
  • The impact of prescription plans and how to manage them
  • Key deadlines to mark on your Medicare calendar
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Traci Grover: 

About our Guest: 

Traci Grover is a dedicated health insurance agent and advisor who provides coverage for individuals of all ages. Her primary focus is the Medicare market. Traci has been an agent since 2018 and has worked in the healthcare industry for the last two decades. She helps consumers make smart decisions for a secure future when determining their healthcare insurance options.

Every client has unique individual needs. Traci bundles their priorities and needs into one protection package tailored specifically for them. It’s important to have an agent like Traci to help navigate the process and find the best fit. As people age and their needs change, they can rely on Traci to be available and ensure their health insurance needs are covered. Her clients range from those of Medicare age to young families, entrepreneurs, contract workers, individuals bridging to Medicare age, and those in between jobs. Her resources come at no cost to her clients.

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Women Will Soon Control the Financial Landscape – But Is the Financial Services Industry Ready? (Ep. 50)

Women Will Soon Control the Financial Landscape – But Is the Financial Services Industry Ready? (Ep. 50)

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The financial services industry is facing a significant shift as women are positioned to control an increasing share of wealth. This shift requires financial advisors to adapt their strategies to better serve women’s specific needs and priorities. 

Are firms ready to change their long-held practices to meet the needs of this growing client base?

In this milestone 50th episode, I explore the increasing control of wealth by women and the financial industry’s reaction to this change. I emphasize the necessity for advisors to change their methods to effectively serve women. Additionally, we share client stories that illustrate the specific concerns and needs of women in financial planning.

Key points:

  • The reasons behind financial advisors’ current concerns
  • Why women are poised to control a significant portion of U.S. wealth
  • The transition of financial responsibility that women experience post-divorce or widowhood
  • How understanding emotional connections to money impacts financial decisions
  • And more!

Resources:

Connect with Eric Blake: 

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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:

Connect with Eric Blake: 

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