Social Security survivor benefits are a vital source of financial stability for many women, but how can you ensure you maximize these benefits when planning for retirement?
In this episode of The Simply Retirement Podcast, Eric Blake dives into the intricacies of Social Security survivor benefits and how they impact retirement planning.
Eric focuses on the top questions from clients and more about eligibility, the application process, and strategic considerations around survivor benefits. Tune in to discover how to maximize your benefits and make informed decisions that align with your retirement plans.
Eric discusses:
Eligibility criteria and crucial timelines for Social Security survivor benefits
Impact of remarriage on survivor benefits and critical ages to consider
The importance of timing for filing and how it affects benefit amounts
Integration of Social Security benefits with other income sources for a balanced financial strategy
Are you leaving Social Security benefits on the table? Let’s take a moment and talk about spousal and ex-spousal benefits.
Today on the Simply Retirement Podcast, Eric Blake delves into what women need to know about maximizing their Social Security benefits, specifically spousal and ex-spousal benefits. He clarifies the eligibility criteria, benefit calculation, timing strategies, and the impact of working on social security benefits. Eric emphasizes the importance of understanding the rules around social security benefits to maximize your financial security during retirement.
Here’s what you can expect to learn about:
How spousal and ex-spousal benefits are calculated
The eligibility criteria for spousal and ex-spousal benefits based on marriage duration
What the earnings test is and the implications of working while receiving benefits
How provisional income affects the taxable portion of your social security benefits
Deciding between taking Social Security benefits before and after full retirement age
Tax implications associated with Social Security benefits and the importance of accurate planning
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
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.
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.
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
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.
Ever wondered if it’s too late to dive into long-term care insurance?
Slide your headphones on and plunge into an enlightening chat as Eric Blake and Dina Mabry peel back the layers of this dilemma, placing a special spotlight on challenges specific to women. Drawing from their combined experience, they provide an in-depth look at the journey to financial security, even if you’re late to the game.
Tune in and discover:
Why the saying, “The best time to plant a tree was 20 years ago. The second best time is now,” could reshape your financial thinking
Reimagine long-term care: Beyond just nursing homes
The evolution in modern insurance policies: What unexpected benefits might your beneficiaries reap
The showdown: Traditional long-term care insurance vs. asset-based policies. Which side will you pick
Age concerns? From 40s to 80s, there’s a strategy tailored just for you
A sneak peek into Dina’s offerings: Why one size doesn’t fit all in insurance
Hear firsthand accounts of how Dina’s knowledge has made a real difference
Dina is a trusted resource for life, long-term care, and disability insurance. Being in the industry for over 15 years, Dina has become a respected consultant to financial advisors and individuals by creatively finding solutions for estate planning, income replacement and long term care protection solutions.
Working with over 30+ carriers, Dina taps into her knowledge from her long career in the pharmaceutical industry to properly underwrite clients to find the best match for most medical impairments.
Dina strives to be a reliable professional in her field so clients can make informed decisions and feel more confident that they and their families are protected.
Dina has deep roots in the Conejo Valley and is active in W Source, The Exchange, Women 2 Women, and spends her time on the Executive Committee for Go Red for Women, The American Heart Association and The Alzheimer’s Association Central Coast.
