Tag: Retirement Planning

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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:

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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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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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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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Eric Blake on Senior to Seniors: Simplifying Retirement for Women in Transition (Ep. 44)

Eric Blake on Senior to Seniors: Simplifying Retirement for Women in Transition (Ep. 44)

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Retirement planning can feel overwhelming, especially for women newly managing finances on their own.

How can you build financial confidence, make informed Social Security decisions, and reduce taxes? What steps can help you create a stable future and enjoy retirement without financial stress?

I was a guest on Senior to Seniors with Jim Mazziotti. In this episode, I share insights on retirement income strategies, tax-efficient planning, and the Simply Retirement Roadmap process.

In this conversation with Jim, I talk about:

  • My personal journey into financial planning and why I focus on helping women—especially those who are single, divorced, or widowed—prepare for retirement
  • The key components of his Simply Retirement Roadmap and how it simplifies financial decision-making
  • The importance of Social Security strategies, tax-efficient withdrawals, and retirement income planning
  • How the recently passed Social Security Fairness Act benefits women, particularly widows and teachers
  • Why many people delay financial planning due to fear, and how education and guidance can make retirement decisions easier
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Jim Mazziotti: 

About Jim Mazziotti: 

Jim Mazziotti is a Realtor focusing in SENIOR REAL ESTATE with EXIT Realty Elite, located in Grapevine, Texas He is the former franchise owner/Realtor & principal managing broker, of Exit Realty located in Bend, Oregon. In his thirty-two years in the real estate business he and his team have closed more than 2000 residential and commercial real estate transactions, including residential, resort, senior and luxury properties. Jim has been recognized in the Top 1% in sales and listings and is the recipient of the ‘Esprit de Corps,’ one of EXIT Realty Corp Internationals most prestigious awards. Steve Morris, the founder and chairman of the board for EXIT Realty Corp International characterizes recipients of this award as “shining examples of what EXIT is all about and characterized by their community presence, professionalism and undaunted perseverance.”

Jim holds a number of certifications and designations including the ABR (Accredited Buyers Representative), SFR (Short Sales and Foreclosure Representative), MRP (Military Relocation Professional), SRES, (Senior Real Estate Specialist), REO Default Certified Professional, and is a Coach, Trainer & Speaker with the John C. Maxwell Organization, recognized as the top leadership organization in the world. Jim speaks and trains regularly across the United States and coaches real estate agents with his ‘Mazziotti Real Estate Accountability Coaching’ company.

Jim Mazziotti is a published author of the book titled The Challenge: How 144 Letters Changed My Life, The Life Of My Son And Will Change Your Life Too,” and sits on the Board of Directors for the National Guard Youth Foundation (NGYF) in Washington, D.C..

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Glowing Older: Embracing Aging, Wellness, and Purposeful Living with Nancy Griffin (Ep. 43)

Glowing Older: Embracing Aging, Wellness, and Purposeful Living with Nancy Griffin (Ep. 43)

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Living a fulfilling life as you age requires more than just financial preparation—it’s about embracing your values, fostering intergenerational connections, and planning with intention.

In this eye-opening episode of The Simply Retirement Podcast, host Eric Blake sits down with Nancy Griffin, CEO of Glowing Older and host of the Glowing Older podcast, to challenge outdated ideas about aging and retirement. Together, they dive into the misconceptions surrounding aging, the importance of life planning beyond just finances, and how to break free from ageism. Nancy shares her insights on how to live a fulfilling, purpose-driven life at any stage, emphasizing movement, social connection, and mindfulness as key factors for aging well. Whether you’re preparing for retirement or looking for ways to enrich your later years, this episode is packed with valuable advice to help you take control of your future.

Nancy discusses: 

  • Why the term “anti-aging” is misleading and how to shift your perspective
  • The benefits of intergenerational connections in combating stereotypes and fostering understanding
  • Why life planning—not just financial planning—is the key to a fulfilling retirement
  • The impact of ageism on society and actionable strategies to address it
  • Actionable steps for healthy aging, including physical activity, better sleep, and enriching social interactions
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Nancy Griffin: 

About our Guest: 

Nancy Griffin is on a mission to help older adults live happier, healthier lives. Nancy showcases new paradigms of aging well on the Glowing Older podcast in housing, health, technology, intergenerational connections, purpose, and lifelong learning.

She is also the founder of SeniorTrade, a virtual village for senior living and aging services professionals, and ExposeAgeism, a movement to combat ageism in the spa, beauty, and wellness industries.

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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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