Tag: Retirement Planning

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Understanding The Widow’s Penalty and What You Can Do About It (Ep. 66)

Understanding The Widow’s Penalty and What You Can Do About It (Ep. 66)

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Losing a spouse is heartbreaking, but it can also trigger financial challenges that many women aren’t prepared for. 

The Widow’s Penalty is real, and it can have long-term consequences on income, taxes, and retirement.

In this episode, I walk through the Widow’s Penalty, what it is, why it disproportionately affects women, and what proactive steps can be taken to protect your financial future. We share real client stories, clear up tax myths, and offer strategies to navigate the road ahead with more confidence and clarity.

Key points:

  • How the Widow’s Penalty results in higher taxes and lower income due to filing status changes and reduced Social Security benefits
  • Why women are more impacted due to longer life expectancy, smaller Social Security/pension benefits, and caregiving interruptions
  • Real-life client examples, including challenging planning scenarios involving early widowhood and limited access to retirement assets
  • Important tax strategies, like using Roth conversions and capital gains harvesting during joint filing years
  • When couples should begin retirement planning conversations, emphasizing proactive communication before unexpected life events
  • And more!

Resources:

Connect with Eric Blake: 

Roth IRA earnings grow tax-free, and qualified withdrawals are also tax-free, provided certain conditions are met (e.g., the account has been open for at least 5 years and you are age 59½ or older, or meet another qualifying condition). Eligibility to contribute to a Roth IRA phases out at higher income levels. For 2025, contributions begin to phase out at a modified adjusted gross income (MAGI) of approximately $146,000 for single filers and $230,000 for married couples filing jointly. Non-qualified withdrawals of earnings may be subject to income taxes and a 10% early withdrawal penalty. Converting a traditional IRA or other tax-deferred account to a Roth IRA is a taxable event and may increase your current-year tax liability. Roth conversions cannot be undone

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How the New Tax Law Could Impact Your Retirement (Ep. 65)

How the New Tax Law Could Impact Your Retirement (Ep. 65)

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Tax law changes might not sound exciting, but these updates could have a powerful impact on your retirement plans.

In this episode, I unpack the top provisions from the new One Big Beautiful Bill Act and how they may affect retirees, especially women planning for long-term income.

I break down tax deductions, clarify what’s changing (and what’s not), and offer timely planning strategies you can apply before 2028.

Key points:

  • The new $6,000 bonus tax deduction for those age 65 and over, and how it stacks on top of standard or itemized deductions
  • The deduction’s income limits, expiration in 2028, and how to plan around it strategically
  • Changes to the SALT cap and how high-tax-state residents may benefit from a significant increase in deductible amounts
  • The importance of reevaluating Social Security filing decisions and leveraging Roth conversions
  • Charitable giving options, widow tax planning, and long-term income strategies to reduce lifetime tax liability
  • And more!

Resources:

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Converting a traditional IRA or other tax-deferred account to a Roth IRA is a taxable event and may increase your current-year tax liability. Roth conversions cannot be undone.

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Navigating Career Transitions for Women Over 55 with Kristi Cline (Ep. 64)

Navigating Career Transitions for Women Over 55 with Kristi Cline (Ep. 64)

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Changing careers or returning to the workforce after a long break can feel overwhelming. But what if the process could feel empowering instead?

In this episode, I sit down with Kristi Cline, Founder & CEO of We Write It Now Resumes & Career Resources, to discuss how women approaching or in retirement can pivot their careers with confidence and purpose. Kristi shares strategies for crafting impactful resumes, networking effectively, and regaining clarity on your career values.

Kristi discusses:

  • Why job seekers must be intentional and strategic rather than relying on mass applications
  • The value of identifying your career values and crafting a list of ideal companies
  • How to use resume customization and the “mirroring” strategy to stand out
  • The importance of networking and the role it plays in landing interviews
  • Using LinkedIn and AI-powered tools to upskill, gain clarity, and build a confident job search plan
  • And more!

Resources:

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Connect with Kristi Cline: 

About our Guest: 

Kristi Cline is a 3X certified résumé writer, interview prep coach, job search strategist, and LinkedIn expert who helps high-achieving professionals—from emerging leaders to C-suite executives—land roles they’re proud of. As the founder of We Write It Now, Kristi has helped over 1,000 clients secure interviews, negotiate offers, and command salary increases of up to $50K. After earning a Journalism degree from Texas A&M, Kristi built a career spanning corporate communications, training, and marketing with companies like Eastman Kodak, Zale Corporation, and JCPenney. But her most defining pivot came at 50, when she realized she would be more fulfilled leveraging her skills and expertise to help job seekers navigate the job search space. In 2019, We Write Now was founded, and she has never looked back.

Today, Kristi blends deep industry knowledge with a sharp writing instinct to deliver bold, modern, and highly personalized career documents that open doors. She’s especially passionate about helping senior professionals clarify their brand, show up with confidence, and navigate their next career transition with intention, strategy, and ease. And whether speaking on a virtual stage or working 1:1, her message is clear: job seekers deserve more than templates—they deserve strategy, clarity, and results. Her involvement with associations, including PARWCC, SERWC, the Dames, and the Thought Leadership Branding Club, has helped her skills remain sharp, keeping her at the top of her game.

Kristi is a proud Texas native, mother of two recent grads, lifelong music lover, and enjoys living life on the Texas Gulf Coast.

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Gray Divorce and Retirement: How Collaborative Divorce May Protect Your Financial Future with Jill Lowe (Ep. 62)

Gray Divorce and Retirement: How Collaborative Divorce May Protect Your Financial Future with Jill Lowe (Ep. 62)

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Gray divorce can significantly impact your retirement plans and emotional well-being.

How do you protect your financial future when love fades later in life? What pitfalls should you avoid to stay financially sound?

In this episode, I sit down with Jill Lowe, Collaborative Divorce Attorney at J Lowe Law, LLC, to discuss the financial and emotional layers of gray divorce. Together, we explore why more women are choosing divorce later in life and how preparation and informed decisions can lead to financial confidence.

Jill discusses:

  • How education becomes a crucial tool for women considering or going through divorce
  • The growing trend of gray divorce and why more women are initiating the split
  • The danger of letting emotions drive decisions around keeping the marital home
  • How collaborative divorce offers a less combative, more goal-focused approach
  • The essential role financial planners play in mapping out a stable future post-divorce
  • And more!

Resources:

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Connect with Jill Lowe: 

About our Guest:

Jill Lowe is a Collaborative Divorce Attorney and founder of J Lowe Law, LLC. With over 20 years of legal experience—18 of those focused exclusively on family law—Jill brings a unique combination of legal expertise and personal insight to her work.

She is licensed to practice law in both Texas and Florida and has been representing clients in collaborative divorces for more than 15 years. She’s also a trained collaborative professional in both states and has spent the past three years speaking publicly on the collaborative process.

Jill’s commitment to peaceful resolution stems from her own experience as a child of divorced parents and her decision—after facing serious health challenges—to step away from litigation in favor of helping families resolve conflict with compassion. She believes divorce doesn’t have to be a battle, and her work focuses on healing and collaboration instead of confrontation.

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Navigating Retirement with Confidence and Clarity with Kathleen Burns Kingsbury (Ep. 59)

Navigating Retirement with Confidence and Clarity with Kathleen Burns Kingsbury (Ep. 59)

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Money can feel like the last taboo, especially when it comes to retirement. But what if opening up could completely transform your future?

In this episode, I sit down with Kathleen Burns Kingsbury, Founder of KBK Wealth Connection and author of Breaking Money Silence®, to explore how our early beliefs about money affect our entire financial life. We unpack the emotional side of retirement planning and how having the right conversations, even the uncomfortable ones, can lead to more confident and joyful retirements.

Key points: 

  • Kathleen’s journey from finance to counseling psychology and founding KBK Wealth Connection
  • How unconscious beliefs form our money mindset from childhood
  • Why many women feel excluded from financial decisions and how to reclaim their voice
  • The emotional side of retirement and how it differs dramatically from previous generations
  • Conversation starters and mindset shifts for clients and advisors to address financial silence
  • And more!

Resources:

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Connect with Kathleen Burns Kingsbury: 

About our Guest: 

Kathleen Burns Kingsbury isn’t your average money mindset and advisor coach; she’s a pioneering force in the realm of women and money, setting her apart from conventional counterparts. With over 18 years of specialized experience, she’s dedicated herself to empowering women across finance, business, and entrepreneurship. As a mentor to female entrepreneurs, Kathleen offers invaluable guidance, drawing from her extensive background in wealth psychology and client communication. Her expertise extends to working with financial advisors, helping them navigate the complexities of wealth management while fostering stronger client relationships.

Her signature program, “Unleash Your True Value™: How to Shift Your Mindset, Boost Your Confidence, and Close More Sales,” is the culmination of her expertise, honed through years of helping women executives, financial advisors, and entrepreneurs break free from money silence.

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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:

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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:

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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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