Tag: Retirement Planning

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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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Empowering Women through New Beginnings with Shalonda Waggoner (Ep. 39)

Empowering Women through New Beginnings with Shalonda Waggoner (Ep. 39)

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What makes a home truly special? We dive into this crucial question in our latest episode with Eric Blake and special guest Shalonda Waggoner. 

Shalonda, the founder and president of LatterHouse Decor, shares her inspiring journey from overcoming domestic violence to helping others create dignified homes. Tune in to learn how Shalonda’s no-cost design ministry is transforming lives by offering decorated spaces for women and families affected by domestic abuse.

Join us as we unravel the story behind LatterHouse Decor, explore the challenges faced by survivors, and discuss the significance of a supportive home environment in rebuilding lives.

Shalonda discusses:

  • The origin and mission of LatterHouse Decor
  • Challenges encountered when starting the organization
  • The process of helping women transition from shelters to homes 
  • Essential resources for domestic violence survivors
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Shalonda Waggoner:

About our Guest: 

Shalonda Waggoner is the Founding President of LatterHouse Decor that is located in the metropolitan area of Dallas, TX. LatterHouse Decor is a design ministry that offers no-cost interior decorating services to women and families that have been relocated due to domestic violence. Domestic violence is not a glamorous subject matter. It is a hard conversation to have. It’s often the silence of those that have lived through domestic violence or those who are currently living through it, that feel embarrassed and ashamed. 

Shalonda began counseling and learned that the women in her group also had similar stories of not being able to take anything but a few clothing items when they fled from their abuser. She sought the Lord for instruction on what she could do to be an agent of change in the domestic violence community. While in her study time, she came across the Scripture Haggai 2:9 and felt an immediate connection. The “latter house” shall be greater than the former,’ says the Lord of Hosts.’ And in this place I will give peace,’ says the Lord of Hosts. From that Scripture, LatterHouse Decor was born. 

Shalonda realized the importance of women not only having a safe place to call home for them and their children, but having a beautiful home filled with light and color. With almost 100 home decor and home furnishings installations completed, it is no wonder that service to survivors of domestic violence has become her purple ribbon mission.

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The Good, the Bad, and the Truth About Paying for Long-Term Care: Part 2 (Ep. 35)

The Good, the Bad, and the Truth About Paying for Long-Term Care: Part 2 (Ep. 35)

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When it comes to planning for retirement, many overlook one of the biggest financial threats—long-term care costs. Most women assume that Medicare or health insurance will cover their needs, but the reality can be a costly surprise.

In this episode of the Simply Retirement Podcast, host Eric Blake teams up once again with long-term care professional Nancy Dykeman for Part 2 of our series on paying for Long-Term Care and shedding light on these often-misunderstood expenses. With over 45 years of experience in the senior care industry, Nancy shares eye-opening insights on the financial realities of extended care, offering practical strategies to help women protect their assets and secure their financial future. From debunking common Medicare myths to offering actionable solutions, this conversation is a must-listen for anyone looking to safeguard their retirement.

Key Highlights:

  • Debunking Medicare Myths: Learn why Medicare doesn’t cover essential non-medical care, like help with bathing or feeding, and how these misunderstandings can lead to financial challenges
  • The Rising Challenges of Long-Term Care: With longer life expectancies, more people need care due to illness or cognitive decline. Nancy outlines why planning is essential to handle these unexpected costs
  • Smart Care Planning: Discover how a hybrid approach of self-funding and long-term care insurance can protect your assets without over-insuring
  • Managing Costs: The cost of long-term care can seem overwhelming, but Nancy offers practical tips for choosing policies that cover 3-4 years of care with inflation protection to keep up with rising costs
  • Flexibility in Insurance: Explore insurance options that allow flexible payment methods, including upfront payments and annuities, to suit your unique financial situation
  • And much more!

Actionable Takeaways:

  • Develop a Long-Term Care Plan: Having a plan—whether through self-funding, insurance, or a combination—reduces family stress and ensures you receive the care you need
  • Explore Flexible Insurance Policies: Look into policies with inflation protection and customizable payment options that align with your financial situation
  • Start Planning Early: The earlier you begin, the better your rates and coverage options. Aim to start by age 40 to ensure your retirement remains secure

This episode provides vital insights for women approaching retirement, empowering them to take control of their future and avoid the financial pitfalls of long-term care.

Resources:

Connect with Eric Blake: 

Connect with Nancy Dykeman: 

About our Guest: 

As a professional in the seniors industry for almost 45 years, Nancy Dykeman brings her experience to the planning table as a former funeral director/co-owner of a large funeral services company where she was responsible for all of the pre-need sales and management of development. She was a Licensed Nursing Home Administrator for over 15 years, opening and operating a number of luxury retirement communities as Executive Director. Nancy joined the funding-planning insurance and consulting business as owner of Long-term Care Planning Consultants, LLC, started in 2000, and operating as its President today. She has been a Senior Client Services Associate with LTCI Partners, LLC, for the last 11 years, training and supporting a nationwide network of specialists in long-term care planning. 

Nancy is a core instructor for the CLTC designation, challenging insurance and financial professionals to grow their businesses through planning, not product push. She is known as a national specialist and educator in this industry and a former instructor of the CSA designation as a Certified Senior Advisor. 

She brings her personal caregiving experiences for her parents, daughter, stepdaughter, and now her husband through education and planning, providing consumers and professionals with stories and interactive techniques to make her a very successful expert in planning for future health events.

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The Good, the Bad, and the Truth About Paying for Long-Term Care: Part 1 (Ep. 34)

The Good, the Bad, and the Truth About Paying for Long-Term Care: Part 1 (Ep. 34)

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Do you have a plan for the rising costs of extended healthcare as you approach retirement? 

Many women are caught off guard by the financial impact of caregiving, both for themselves and their aging loved ones.

In this episode of Simply Retirement, host Eric Blake sits down with long-term care professional Nancy Dykeman, who brings over 45 years of experience in caregiving, nursing home administration, and long-term care insurance advocacy. They discuss why it’s critical for women nearing retirement to think beyond traditional savings and begin planning for extended care. Nancy shares her personal journey and dispels common myths surrounding long-term care, offering practical strategies to safeguard your financial future.

Key Highlights:

  • Understanding Long-Term Care: Nancy dispels the myth that long-term care is just for the elderly. She explains the true scope of extended care, which includes in-home care, assisted living, and more
  • Women and Caregiving: Women over 55 face unique risks, often juggling caregiving for aging parents while managing their own retirement plans. Learn how to mitigate these risks with proper planning
  • Nancy’s Journey: Discover how Nancy’s personal and professional experiences led her to advocate for long-term care insurance, helping families stay financially secure while aging at home
  • The Financial Toll of Caregiving: With costs ranging from $5,000 to $10,000 per month, long-term care can cause significant financial strain. Nancy explains how to prepare financially to avoid these burdens
  • Cognitive Decline and Care: Memory loss and cognitive decline require extended care. Nancy shows how to protect your financial future through early planning
  • Fiduciary Responsibility: Financial advisors need to address long-term care with their clients—failure to do so could put retirement plans at risk. Nancy stresses the importance of including care planning in retirement strategies
  • And much more!

Actionable Takeaways:

  • Begin planning early to safeguard your financial future
  • Start open conversations with family about caregiving roles and financial resources
  • Consider long-term care insurance or alternative financial plans to cover care costs and protect your assets

This episode offers vital insights for women approaching retirement, helping them navigate long-term care planning with confidence.

Resources:

Connect with Eric Blake: 

Connect with Nancy Dykeman: 

 

About our Guest: 

As a professional in the seniors industry for almost 45 years, Nancy Dykeman brings her experience to the planning table as a former funeral director/co-owner of a large funeral services company where she was responsible for all of the pre-need sales and management of development. She was a Licensed Nursing Home Administrator for over 15 years, opening and operating a number of luxury retirement communities as Executive Director. Nancy joined the funding-planning insurance and consulting business as owner of Long-term Care Planning Consultants, LLC, started in 2000, and operating as its President today. She has been a Senior Client Services Associate with LTCI Partners, LLC, for the last 11 years, training and supporting a nationwide network of specialists in long-term care planning. 

Nancy is a core instructor for the CLTC designation, challenging insurance and financial professionals to grow their businesses through planning, not product push. She is known as a national specialist and educator in this industry and a former instructor of the CSA designation as a Certified Senior Advisor. 

She brings her personal caregiving experiences for her parents, daughter, stepdaughter, and now her husband through education and planning, providing consumers and professionals with stories and interactive techniques to make her a very successful expert in planning for future health events.

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Prioritizing Self-Care with Professional Tips from Taylor Morrison (Ep. 33)

Prioritizing Self-Care with Professional Tips from Taylor Morrison (Ep. 33)

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Retirement planning can be daunting, especially for women who often prioritize others over themselves.

How can women balance self-care with financial planning? What strategies can help them thrive in retirement?

On today’s episode of Simply Retirement, Eric Blake welcomes Taylor Elise Morrison, founder of Inner Workout, to discuss the importance of self-care, particularly for women navigating the complexities of retirement planning and caregiving. 

Drawing from Taylor’s experience, listeners will learn about creating personalized self-care routines and actionable steps to ensure well-being doesn’t fall by the wayside.

Eric and Taylor discuss: 

  • The importance of incorporating self-care into your busy life without feeling like a failure
  • Strategies for overcoming common myths and roadblocks to effective self-care
  • How to utilize technology as a tool for maintaining and managing self-care practices
  • Tips for crafting a self-care toolkit tailored to various lifestyle needs, whether you’re in your peak earning years or already retired
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Taylor Morrison: 

About our Guest: 

Taylor Elyse Morrison turned being bad at self-care—and being firmly convinced of every human’s potential—into a career. She’s the founder of Inner Workout, and the award-winning author of a book by the same name. Named one of Fortune’s 10 Innovators Shaping the Future of Health,  Taylor is tired of aspirational ‘wellness as usual.’ Instead, it makes well-being and personal development more accessible. You’re just as likely to see Taylor facilitating a workshop at a Fortune 100 as you are to see her talking about TikTok and body image with a high school class. Wherever she goes, Taylor’s sure to use her coaching, mindfulness, and movement training to meet people where they’re at and offer actionable steps towards creating a world without burnout.

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The Essentials of Social Security: An Insider’s Insights to Help You Plan with Confidence (Ep. 32)

The Essentials of Social Security: An Insider’s Insights to Help You Plan with Confidence (Ep. 32)

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Are you leaving money on the table with your Social Security benefits?

Join host Eric Blake as he engages with Nolan Russell, a former Social Security Administration employee and author of “The Essentials of Social Security: Insider Insights to Help You Plan with Confidence.” Nolan shares his 25 years of experience, shedding light on the complexities of Social Security and offering practical advice to help you make informed decisions.

Key Highlights:

  • Understanding Social Security: Discover why Social Security is a crucial yet often undervalued source of retirement income that adjusts for inflation
  • Challenges in Information Accuracy: Learn about the difficulties in obtaining accurate information from the Social Security Administration and strategies to overcome them
  • Nolan’s Background: Gain insight into Nolan’s extensive experience with the SSA and his motivation for writing his book to help people better understand their benefits
  • SSA Staffing Challenges: Understand the impact of staffing issues at the SSA on the availability and accuracy of information
  • Effective Preparation: Get tips on how to prepare for interactions with Social Security representatives by having a clear vision of your retirement goals and neccessary information ready
  • Missed Entitlements: Learn about the common issue of missed entitlements and how to ensure you receive all the benefits you’re eligible for
  • And much more!

Listen in for actionable advice on optimizing your Social Security benefits and navigating the complexities of retirement planning with confidence.

Resources:

Connect with Eric Blake: 

Connect with Nolan Russell: 

About our Guest: 

Nolan Russell is a former Social Security employee with more than 25 years of experience. He began his career in a Field Office as a Claims Representative and, later, as a Technical Expert. Then, he worked in a Regional Office as a Regional Program Analyst and Medicare Coordinator, providing program expertise on a regional and national level in the agency. Thereafter, he served as a Teleservice Center Manager, overseeing service on Social Security’s 800 number phone network. His last assignment was managing a small, rural Field Office in Colorado where he was responsible for maintaining service to several mountain communities. Regardless of his position, Nolan has a passion for using his knowledge and experience to help people be successful when working with Social Security.

Nolan has been married to his wonderful bride over 32 years, has four grown children and no grandchildren (yet). He is an avid DIYer, always looking for ways to fix just about anything.

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Retiring, Unretiring, and Rediscovering Purpose with Kim Lee (Ep. 23)

Retiring, Unretiring, and Rediscovering Purpose with Kim Lee (Ep. 23)

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When we think of retirement, images of tranquil beach walks, leisurely lunches, and newfound hobbies often fill our daydreams. But what if the reality of retirement doesn’t align with the fantasy?

Eric Blake welcomes back Kim Lee, a former personal trainer, a retiree and now a personal trainer once more. Kim shares her transformative journey, offering a candid look at her decision to retire, relocate to Mexico, and then, quite unexpectedly, unretire back to her roots in personal training. Kim’s story isn’t just about retirement; it’s about purpose, passion, and the courage to pivot when life’s plans don’t bring the fulfillment expected.

Kim touches on: 

  • Why did Kim decide to “unretire” and return to personal training
  • How did cultural changes in Mexico affect Kim’s daily life and happiness
  • What emotional challenges did Kim encounter being away from loved ones and her fitness community
  • What advice does Kim give for those considering retirement, focusing on setting clear goals
  • And more

Resources:

Connect with Eric Blake: 

Connect with our Guest: 

About our Guest: 

Kim Lee, a dedicated Certified Personal Trainer for the past 8 years, is currently operating as an Independent Contractor at the Hidden Gym nestled in Allen, Texas. Alongside her professional pursuits, she cherishes her role as a loving wife and mother to two wonderful grown children. Her fervor for promoting both physical and mental health is unmistakable and deeply embedded in her work. She firmly believes in the power of small, consistent steps, emphasizing that they collectively pave the way for monumental change.

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How to Secure Your Legacy (Ep. 22)

How to Secure Your Legacy (Ep. 22)

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Do you know the difference between a will and a living trust?

Worried about protecting your assets after you’re gone?

Dive into estate planning essentials on The Simply Retirement Podcast with host Eric Blake. He brings on Susan Barnett from Haiman Hogue, offering valuable advice especially for single women, widows, and divorcees aiming to protect their financial future.

With over twenty years in law, Susan Barnett clarifies the choice between wills and living trusts, emphasizing the need for estate planning for life’s unforeseen events, and underscoring the crucial role of a financial power of attorney.

Key Highlights:

  • Estate Planning Explored: Unpack the necessity of comprehensive estate planning
  • Living Trusts Made Clear: Susan Barnett sheds light on living trusts as adaptable and secure asset management tools
  • Roles Defined in Living Trusts: Understand the critical roles and their impact on maintaining control over your assets
  • Benefits of Dodging Probate: Discover how living trusts can protect your privacy and avoid the complications of the probate process
  • Limitations of Simple Wills: Learn about the potential risks associated with basic wills and how they may expose you to fraud
  • Importance of Document Updates: A compelling example emphasizing the need to keep your estate documents up-to-date
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Susan Barnett: 

About Haiman Hogue:

Haiman Hogue is a Faith-Based Estate and Family Protection Planning and Elder Law Firm. Our law firm is designed on the foundational belief that we are “FAITHFULLY SERVING GOD, OUR CLIENTS, AND OUR COMMUNITY” in everything we do. The Lord gives us the clients He wants us to help and the income He wants us to make, so our focus is to use our unique God-given talents and abilities to help and serve others. Our attorneys and staff are actively involved in community outreach. In addition, we offer the public free educational events each year and are always willing to provide a guest speaker for professional organizations and civic groups.

About Susan Barnett: 

Susan has been an attorney since 1989. She graduated from Baylor Law School and immediately joined the Collin County DA’s office.

Her career as a prosecutor spanned almost 10 years until her twin girls were born in 1998. At that time, she and her husband, Scott, determined that it was important that Susan stay home with her daughters. For sixteen years, she kept a small practice out of her home and enjoyed being a wife to Scott and mom to her three girls. During that time, she also spent a year working for President George W. Bush in the White House and serving for five years as Director of Kids Ministry at Willow Bend Church in Plano. Her children are now grown, and two sons-in-love have been added to the family. Her newest role is ‘Mimi’, and she is thrilled!

Since June 2014, Susan has focused her practice on estate planning and elder law. She currently leads Haiman Hogue’s Estate Administration Team and guides her clients through the difficult days and months after a loved one has passed. She also listens with compassion and understanding as she assists her clients in their own estate planning. She desires to honor Christ in the way she serves her clients.

Being part of the Haiman Hogue family is a good fit for Susan. She believes that God has brought her to a Firm that values her, not only as an attorney but as a follower of Christ. Haiman Hogue is a place that allows her to continue to serve God and her family while she devotedly takes care of the firm’s clients.

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Financially Fearless Women with Barb Provost and Maggie Nielsen (Ep. 17)

Financially Fearless Women with Barb Provost and Maggie Nielsen (Ep. 17)

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Ladies, have you ever considered the unique aspects of your finances?

Today’s dialogue sheds new light on the critical topic of women’s financial empowerment. Eric Blake welcomes Dr. Barb Provost and Maggie Nielsen, founders of Purse Strings, to explore the critical topic of women’s financial empowerment. Together, they uncover the unique financial challenges faced by women and emphasize the importance of adopting a “financially fearless” approach.

Key Discussion Points:

  • Systemic Challenges: Addressing the pink tax, wage gaps, and the additional caregiving responsibilities that disproportionately affect women
  • Becoming Financially Fearless: The need for women to engage in proactive financial planning and decision-making
  • Industry Critique: A look at how the financial services industry’s male-centric models fail women, and the urgent need for female-focused financial education and services
  • Proactive Financial Planning: The importance of women taking charge of their financial planning, especially as they approach retirement
  • Purse Strings – A Vital Resource: The discussion showcases Purse Strings as an essential tool for financial literacy, connecting women with vetted financial professionals
  • Diverse Financial Professionals: The wide range of professionals available through Purse Strings, catering to the varied financial needs of women
  • Overcoming Financial Barriers: Strategies for overcoming financial shame and insecurity, empowering women to use money as a tool for achieving dreams and impacting the community
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Barb Provost: 

About Barb Provost:

Barb Provost, founder of Purse Strings, has over 20 years of experience as a financial industry consultant. Recognizing the industry’s neglect of women’s financial needs, especially after her own divorce and observations of older women in the workforce, she established Purse Strings. Barb’s mission is to empower women financially, drawing on her extensive research and her Doctorate in Adult Learning and Higher Education. With international experience in countries like Nigeria and India, she aims to equip women with the resources and knowledge for financial independence and security.

Connect with Maggie Nielsen: 

About Maggie Nielsen: 

Maggie Nielsen, with an MBA and experience working alongside Barb Provost, recognized the financial industry’s tendency to overlook and underserve women. Determined to challenge this status quo, she became a driving force behind Purse Strings. Maggie has facilitated over 300 live sessions with financial professionals, focusing on foundational knowledge, real-life stories, and practical tips. Her mission is to empower women with the financial savvy needed to make informed decisions for themselves, their families, and their businesses. Maggie’s efforts aim to ensure women confidently engage with finance, making choices that enrich their lives. She takes pride in Purse Strings’ role in shaping the financial futures of generations of women, advocating for financial independence and self-determined living.

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Unveiling the Secrets to a Truly Successful Retirement for Women (Ep. 15)

Unveiling the Secrets to a Truly Successful Retirement for Women (Ep. 15)

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What if there’s much more to women’s retirement planning than you ever imagined? 

We’ve got some surprises in store for you.

Join us for a captivating episode of the Simply Retirement podcast with host Eric Blake, as he dives into the nuances of retirement planning specifically for women. Joined by Dr. Karen Midyet, a renowned clinical psychologist specializing in retirement and aging, they dissect the intricate blend of financial and emotional elements crucial to a woman’s retirement journey.

Episode Highlights:

  • Uncover the art of building vibrant social networks post-retirement
  • Learn how activities like pickleball and community engagement can transform socializing in retirement
  • Explore how educational pursuits, from online to university-level, can reinvent your retirement experience
  • Dive into Dr. Midyet’s innovative approach to mental, physical, and nutritional wellness for retirees
  • Understand why planning in your 50s is pivotal for a fulfilling retirement
  • Realize your retirement dreams with the power of personalized coaching
  • Plus, much more insightful content!

Resources:

Connect with Eric Blake: 

Connect with Karen Midyet: 

About our Guest: 

Dr. Karen L. Midyet, Psy.D., is a Clinical Psychologist and Retirement and Aging Coach with a career spanning over 45 years. Specializing in life, career, retirement, and aging, she operates from the Denver metro area but extends her services remotely to clients across the US and Canada.

Karen is the visionary behind Coaching Aging Adults, LLC, a practice dedicated to assisting aging clients in developing life purpose and addressing issues related to isolation and loss. She also conducts workshops, online courses, and retreats to assist older adults as they prepare for retirement, facilitating emotional adjustment and planning for their Next Act, be it an Encore Career, volunteering, or grandparenting.

Dr. Midyet’s mental health practice aids adults coping with life transitions, emotional problems, acute or chronic medical illnesses, and personal issues related to traumatic events or family history. She also consults with mental health professionals and facilities on best practices for aging adults. She contributed significantly in her roles as President of Colorado Professional Psychological Group and Chief Psychologist at the Institute of Motivational Development, providing invaluable consultation, supervision, and clinical training in diverse areas such as underachievement, stress management, ADHD, anxiety, and depression. She also was past President of the Psychology Group and on the Board for Bethesda Psychiatric Hospital during its transition to Health One. 

As a forerunner in her field, Karen’s multifaceted approach and innovative techniques have enabled profound personal growth and enhanced well-being among her clients, Her methodologies and client-centered approach position her as a thought leader, with her insights being highly sought after for consultation and podcasts.

Beyond her extensive professional pursuits, Karen is deeply passionate about fostering a balanced and enriching lifestyle and continues to be a beacon of inspiration and support to many aspiring to navigate the complexities of aging and retirement effectively.

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