Tag: Women and Finances

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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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Prioritizing Health in Midlife with Elizabeth Sherman (Ep. 30)

Prioritizing Health in Midlife with Elizabeth Sherman (Ep. 30)

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Are you a midlife woman juggling caregiving, health, and finances?

Join us for this episode of the Simply Retirement Podcast, as host Eric Blake sits down with Elizabeth Sherman, a master-certified life and health coach with over 17 years of experience. Elizabeth offers a reliable health strategy that connects well-being and financial stability. She explores stress management, sleep, and nutrition, offering practical tips to improve overall well-being.

Key Highlights:

  • Comprehensive Health Strategy: Elizabeth goes beyond “eat less, move more,” integrating stress management, sleep, and hormonal changes
  • Caregiving Challenges: Addressing the unique stressors of caregiving and the importance of self-care
  • Health and Wealth Connection: How neglecting health impacts financial stability and vice versa
  • Nutrition and Sleep: Insights into how diet and sleep quality affect energy, emotions, and long-term health
  • Practical Tips: Elizabeth’s “Eight Basic Habits” for healthy living, including hydration, balanced meals, daily movement, and sleep hygiene
  • Empowering Women: Encouraging women to prioritize their needs and health for a better quality of life during retirement
  • And much more!

Listen in for actionable advice on balancing health and finances, and connect with Elizabeth Sherman to start living a healthier, happier life.

Resources:

Connect with Eric Blake: 

Connect with Elizabeth Sherman: 

About our Guest: 

Elizabeth is a Master Certified Life and Health Coach specializing in women’s wellness in midlife. Drawing from
over 17 years in the field and a personal journey that began with a desire to reduce her own health risks,
Elizabeth offers a deeply empathetic and knowledgeable approach. Her certifications from The Life Coach
School, American Council on Exercise, Precision Nutrition, Metabolic Effect, and Redesign Your Mind reflect
her comprehensive expertise. Elizabeth’s passion is helping women navigate the complexities of midlife
health, from hormonal changes to mental clarity, with a focus on sustainable, joyful living.

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Finding the Right Financial Advisor: Guidance for Your Unique Financial Journey (Ep. 29)

Finding the Right Financial Advisor: Guidance for Your Unique Financial Journey (Ep. 29)

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Is finding a financial advisor suitable for your unique financial circumstances leaving you overwhelmed?

Tune into this episode of The Simply Retirement Podcast with host Eric Blake and Wealth Manager Lyndsey Monahan as they discuss key considerations in hiring a financial advisor who has the skills and experience to provide effective advice based on your unique financial journey.  With decades of experience, Eric and Lyndsey weave in personal stories and professional guidance to assist you in sidestepping common pitfalls when searching for the right financial advisor. This episode focuses on a financial advisor and their firm having a structured, client-focused approach to assist women in feeling confident about their financial future.

Key Highlights:

  • Finding the Right Financial Advisor: Eric and Lyndsey discuss essential qualifications and why understanding specific client needs is crucial
  • Common Mistakes in Financial Planning: Discover frequent errors like improper account setups and lack of a will, and learn how to avoid them
  • Blended Family Dynamics: Lyndsey shares insights into the unique financial complexities of blended families and strategies to manage them effectively
  • Empowering Women: Understand the importance of approachable and inclusive advisors in engaging both partners in financial discussions
  • Industry Challenges: A discussion on the lack of diversity in the financial advisory industry and its impact on female clients
  • Important Questions to Ask: Key questions to ask potential advisors to ensure they are the right fit for your unique needs
  • Advisor Roles: The necessity for advisors to collaborate with CPAs and estate planning attorneys for comprehensive financial planning
  • And much more!

Tune in to this episode for actionable advice and connect with Eric and Lyndsey to start your journey toward financial freedom.

Resources:

Connect with Eric Blake: 

Connect with Lyndsey Monahan: 

About our Guest: 

Lyndsey Monahan is a wealth manager at Precision Wealth Strategies. Raised by a single mom, Lyndsey’s personal experiences with financial struggles led her to a career in financial advising. She specializes in helping clients navigate the complexities of blended families and is dedicated to empowering women in their financial journeys.

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Personalized Solutions for Quality Homecare for Seniors (Ep. 27)

Personalized Solutions for Quality Homecare for Seniors (Ep. 27)

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Struggling to find the right homecare? 

Join Eric Blake and Danielle Bonilla on The Simply Retirement Podcast as they discuss Hallmark Homecare’s unique model that connects independent caregivers directly with families. This episode highlights how Danielle’s personal journey from teacher to entrepreneur was inspired by her grandmother’s needs, leading to significant innovations in caregiving. They explore how bypassing traditional agencies not only saves costs but also empowers families to find the perfect caregiver match, addressing particularly the challenges women face in caregiving roles.

Key Highlights:

  • Personal Journey to Caregiving: Danielle shares her personal motivation for founding Hallmark Home Care, driven by her own family’s caregiving challenges
  • Unique Business Model: An in-depth look at Hallmark’s model of connecting families directly with independent caregivers
  • Customized Care Plans: The importance of creating personalized care plans that cater to the specific needs of families and their loved ones
  • Specialized Care Capabilities: Hallmark’s ability to handle complex care scenarios, including skilled nursing tasks typically not offered by other agencies
  • Empowering Independence: Benefits of Hallmark’s approach for caregivers and families, allowing for flexible schedules and tailored care options
  • Client-Centered Recruitment Process: Insight into Hallmark’s thorough caregiver matching process, ensuring families receive the most suitable care
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Danielle Bonilla: 

About Danielle Bonilla: 

Danielle Bonilla is the co-founder of Hallmark Home Care. With a background in education, Danielle pivoted to home care after recognizing the gap in personalized care solutions for seniors. Her passion for enhancing the caregiving process and empowering caregivers has been central to Hallmark Home Care’s success.

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Navigating the Solo Aging Journey (Ep. 26)

Navigating the Solo Aging Journey (Ep. 26)

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Are you expecting to face the retirement journey on your own?

Join host Eric Blake and your solo aging guide, Carol Marak, as they tackle the unique challenges of aging without a support network. Discover practical strategies for maintaining independence and confidently navigating solo aging.

Carol shares her journey as a caregiver for her parents, which led her to create a comprehensive roadmap for solo aging. She covers ten key domains: health, housing, legal matters, finances, transportation, social connections, fun and engagement, life purpose, and faith/spirituality. Emphasizing self-assessment and early planning, Carol offers actionable advice for those aged 45 and above.

Key Highlights:

  • Understanding Solo Aging: Defining solo aging and its implications for different individuals
  • The Importance of Self-Assessment: Identifying current status and goals for effective retirement planning
  • Ten Key Domains: A detailed look at the areas crucial for aging independently and healthily
  • Proactive Planning: The benefits of early awareness and preparation for maintaining independence
  • Real-Life Example: How one couple overcame their fears and took actionable steps toward better health and social connections
  • Expert Guidance: Resources and tools available to help navigate the complexities of solo aging
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Carol Marak: 

About Carol Marak: 

Carol Marak is an authority on solo aging, offering valuable insights and tools through her website and book, “Solo and Smart.” Her personal caregiving experience and subsequent research provide a robust framework for individuals preparing to age independently.

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Navigating Healthcare in Your Golden Years (Ep. 25)

Navigating Healthcare in Your Golden Years (Ep. 25)

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How does care management transform the retirement experience?

Discover the intersection of healthcare and retirement planning in the latest episode of The Simply Retirement Podcast. Host Eric Blake welcomes Pamela Farris, founder of Harmony Care Management. They explore the vital role of care management in retirement, offering invaluable insights for retirees, particularly women facing solo aging, healthcare challenges, or those in need of holistic care solutions.

With her extensive background in hospital medicine and entrepreneurship, Pamela Farris discusses transitioning to care management in response to the evolving healthcare landscape. She emphasizes the importance of a comprehensive approach to managing healthcare and financial needs, ensuring tailored care plans that respect each client’s unique situation and preferences.

Key Highlights:

  • Understanding Care Management: Explore the essential role of care management in retirement healthcare
  • Transitioning to Care Management: Pamela Farris recounts her shift from hospital medicine to the world of care management
  • Holistic Approach in Healthcare: A look at the critical integration of legal, financial, and healthcare planning
  • Patient Advocacy and Representation: The crucial need for advocacy in healthcare, especially for those aging alone
  • Navigating Healthcare Complexity: Insights into managing insurance, medical coding, and cost-reduction strategies
  • Personal Impact Stories: Engaging tales illustrating the transformative effects of care management on clients’ lives
  • Engaging with Harmony Care Management: Learn how to access their services and understand their extensive reach
  • And much more!

Resources:

Connect with Eric Blake: 

Connect with Pamela Farris: 

About Pamela Farris: 

Founder and Chief Care Manager of Harmony Care Management, Pamela Farris, has been practicing as a nurse since 1980, caring for patients and leading healthcare teams in various capacities. Pam has seen firsthand the need for plans of care based on individualized needs and preferences. Pam graduated from UT Southwestern and holds a Master of Business Administration from the University of Dallas.

In Pam’s downtime, she is involved in a local non-profit to promote awareness for the needs of Seniors and enjoys spending time with her family.

Harmony Care Managers are experts in orchestrating harmony within healthcare. We have a dedicated team of leaders within the field, comprising nurses, licensed nursing home administrators, experts in medical billing, and more, to provide support in every way. From being a liaison and coordinating care to addressing individualized care, Harmony Care Management provides expert advocacy and support throughout the healthcare journey.

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