Tag: Financial Independence

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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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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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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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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:

Connect with Eric Blake: 

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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Financial Tips and Support for Widows with Chris Bentley, MBA, CFP®, CLU®, BFA®, CRPC® (Ep. R36)

Financial Tips and Support for Widows with Chris Bentley, MBA, CFP®, CLU®, BFA®, CRPC® (Ep. R36)

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Widowhood often brings emotional and financial turmoil, leaving many unsure of where to turn. 

Wings for Widows offers a lifeline to widows through personalized coaching and financial guidance.

In this episode, Eric Blake, along with guest Chris Bentley, MBA, CFP®, CLU®, BFA®, CRPC®, Founder and CEO of Wings for Widows, dive into the importance of financial preparedness and support for widows and widowers navigating the complexities of financial decisions post-loss. 

You’ll gain valuable insights into the mission of Wings for Widows, learn about the coaching services they offer, and discover practical financial strategies to ensure stability during an emotionally challenging time. 

Eric and Chris discuss: 

  • The emotional and financial challenges faced by newly widowed individuals
  • The concept and impact of the “widow’s crisis”
  • Essential financial steps and resources for widows
  • Detailed coaching services provided by Wings for Widows
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Chris Bentley: 

About our Guest: 

At the heart of Wings for Widows lies the vision and dedication of Chris Bentley. Chris’s journey to establish this organization was sparked by a profound realization during his tenure as a financial advisor. He recognized a widespread and critical gap in support for individuals in the throes of early widowhood—a time when the need for compassionate, professional financial guidance is most acute, yet startlingly underserved.

Chris Bentley, whose career spans roles as a veteran, entrepreneur, retired financial advisor, author, educator, speaker, and unwavering advocate for the widowed, was moved by the struggles faced by those who had lost a spouse. He observed firsthand the detrimental impact of navigating financial decisions without expert advice during such a vulnerable time. The mistakes made in the wake of loss, often under the cloud of grief and confusion, can have long-lasting repercussions.

Driven by a deep sense of purpose and armed with expertise and empathy, Chris embarked on a mission to change this narrative. In 2017, his vision took flight with the creation of Wings for Widows, a pioneering nonprofit organization dedicated to offering widowed men and women the critical financial coaching and education they sorely need. Chris has since devoted his life to this cause, transforming his insight into action, and in doing so, has built a beacon of hope and empowerment for countless individuals navigating the path of widowhood.

Through Chris Bentley’s leadership, Wings for Widows stands as a testament to what visionary dedication can achieve. His commitment not only addresses the immediate needs of the widowed community but also fosters a broader understanding and appreciation for the unique challenges they face. Chris’s legacy is one of compassion, advocacy, and unwavering support, ensuring that no one has to face the financial aftermath of losing a spouse alone.

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Why You Need an Estate Plan With Chris Downs (Ep. 18)

Why You Need an Estate Plan With Chris Downs (Ep. 18)

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Are you prepared for the unexpected?

Confronting fears isn’t just a personal journey; it’s a critical aspect of financial and estate planning. This is the central theme of today’s discussion, where host Eric Blake, joined by esteemed estate planning attorney Christene “Chris” Downs, dive deep into the unique challenges and essential strategies needed for successful retirement and estate planning.

Key Highlights:

  • Untangling Estate Planning: Chris Downs simplifies complex estate planning concepts and emphasizes their importance
  • Estate Planning for All: Whether widowed, divorced, or single by choice, learn the critical role of estate planning in securing financial futures
  • Beyond the Will: Explore key aspects often overlooked in estate planning, such as incapacity planning and the power of decision-making delegation
  • Avoiding Unintended Consequences: Understand how an effective estate plan prevents scenarios like ex-spouses unintentionally remaining beneficiaries
  • Intentional Asset Distribution: Insights into the pitfalls of dying intestate and the value of deliberate asset allocation in accordance with one’s wishes
  • Powers of Attorney Explained: A deep dive into the significance of Statutory Durable and Medical Powers of Attorney in managing personal and health affairs
  • Living Wills and Beneficiary Designations: Clarifying the role of living wills and how to align beneficiary designations with your broader estate plan
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Chris (Christene) Downs: 

About Chris:

Chris’s motto is “Be Kind” & her motto defines how she practices law. 

Attorney Christene “Chris” Krupa Downs is an attorney at Krupa Downs Law, PLLC in Plano, Texas. Chris focuses her practice on wills, trusts, advance directives, estate planning, guardianships, and probate. She has 13 years of legal experience handling estate planning, probate & guardianship legal matters for clients in Allen, Frisco, McKinney, Plano and throughout Collin, Dallas, and Denton counties. 

In addition to her practice, Chris writes and lectures for local and state bar associations, and at legal seminars. She is a member of various professional organizations, including the Collin County Bar Association, the Dallas Bar Association, and the Texas Bar College. She is also active in the State Bar of Texas and served on the Computer and Technology Section Council.

As part of giving back to the Texas community, Chris serves on the board of the Wellness Center for Older Adults, an organization addressing the needs and concerns of Collin County’s older adult population and is treasurer of the Women’s Auxiliary to Plano Children’s Medical Center. She also serves on the board of the Junior League of Collin County as Community Strategic Director and is a former Treasurer and Executive Vice President of the organization. In 2022, Chris was recognized with the Athena Award by the Plano Chamber of Commerce and the Community Service by a Woman Lawyer award by the Collin County Women Lawyers Association.

Chris lives in Plano with her husband, David Downs.

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