He's Gone But The Money's Not

In this episode, Christine shares her poignant journey through infertility, adoption, and the sudden loss of her husband, Brian, while their children were still young. Despite the tragedy, Christine reflects on the comfort they found in being prepared with life insurance, burial plots, and plans for their house. She delves into the myriad decisions that had to be made immediately following Brian's...

This episode features JoAnn, a music therapist who shares her experience of losing her husband after a six-year battle with cancer. JoAnn reflects on the value of the extra time chemotherapy provided despite the health challenges it caused. It allowed her husband to witness and participate in their daughter's important milestones. As a music therapist, she made the tough decision to close her busi...

This episode features Michelle, author of the fictional novel "The New Normal," inspired by her own experience as a widow. The book shares the emotions and complexities of grieving after the loss of a spouse. Even 20 years after his death, the grief will come back. She shares about losing her spouse during an adoption process and then being denied as a single adoptive parent, the double blow of lo...

Bob Aamodt, CFP® has been an advisor for over 25 years. He has been mentioned by several widows who have been interviewed on this podcast as their advisor. Bob shares his experience investing in real estate. We talk about the pros and cons of real estate investing. Spoiler, it may be more complex than you realize. If you would like to learn more about Rock House Financial and the services offered...

Summary In this podcast episode, we explore Julie’s unique path as a widow. After her husband's unexpected passing from an aortic aneurysm, Julie's financial situation took an unexpected turn. Unlike many widows who face financial challenges, Julie's finances significantly improved following her husband's death. Throughout their 15-year marriage, Julie and her husband faced substantial financial s...

Summary Karen faced significant hardships after the tragic motorcycle accident that took her husband's life. Suddenly finding herself as a single mother of six children, Karen had to navigate through various obstacles to ensure the well-being of her family.  Having recently relocated from Michigan to Idaho, Karen and her husband were in the midst of selling their Michigan home and purchasing a new...

Summary In this podcast episode, we have the privilege of interviewing Chris Bentley, a financial advisor. Chris' journey began when he encountered a dear friend who had recently become widowed and realized the lack of resources available to support widows in similar situations. Rather than standing idly by, Chris decided to seize the opportunity to make a difference. In 2018, Chris founded Wings...

Summary Just one month shy of their 20th wedding anniversary, Emily was widowed unexpectedly at the age of 37 due to Covid. Emily’s husband, Nathan, was the core of their family as the stay at home dad. They have 4 children who were ages 10 - 19 at the time. Emily shares how she left her corporate job and became self-employed founding Brave Widow and the membership community to help other young wi...

When you get a big windfall like life insurance, should you use it to pay off your house? Or if you have extra monthly income should it go to paying off your house or saving? This depends on many different factors. It can be different for each individual. Consider your priorities and situation, seek help from a professional, and don’t feel rushed to make a decision. If you would like to learn more...

Kimberly’s husband died by suicide after being married for a very short time. They had started the process of combining finances when they first got married, including changing wills and beneficiaries. Due to this being a second marriage and such a short marriage it created conflict in the family. Kimberly had to cut her losses and make a lot of financial sacrifices to not turn it into a battle. S...

One of the big reasons I see that people struggle to live on a budget or keep an emergency fund is because they are not planning for annual expenses. They consider regular monthly expenses in their budget but forget about the annual life insurance bill or the home and car maintenance. In this episode, I talk about how sinking funds or annual funds can help create a more realistic budget or spendin...

Missy was in her 20s when her husband was diagnosed with a brain tumor after just a few short years of marriage. Missy was able to quit her job and be his full-time caregiver. After seeing her father-in-law pass away and what his mom went through, they realized they needed to prepare for Stephen’s death. The gift he wanted to give Missy was to make sure everything was taken care of for her, such a...

Jasmine’s husband was diagnosed with terminal cancer while Jasmine was pregnant. There was no conversation about what would happen after he passed away. She was so unprepared for all the decisions she had to make when she was already so overwhelmed. She felt very alone, had no peers or other young widows that she knew. She couldn’t believe there was no one to help her when she felt she could not f...

Many widows on our podcast have shared how valuable a financial advisor has been in their financial journey, so how do you find a financial advisor. Summer and Nicole discuss the issues when searching for an advisor and some tips on what to look for. Here are some places to find a fee only financial advisor: https://www.feeonlynetwork.com/ https://www.napfa.org/financial-planning/how-to-find-an-ad...

Anita’s husband, Jason, died very unexpectedly while swimming. She was 38 and had 4 young children. Being 4+ years out from the loss she shares all that she has had to learn about finances. And looking back at the decisions she made because of fear and how far she has come. Anita hosts a podcast for widows and so has heard what a lot of other widows have had to handle with their finances. Check ou...

Many people express how much they dislike budgeting and we can relate. So we share how to not have a micro budget, instead build structures and habits into your finances so you do not need to spend an hour budgeting every week.  Disclaimer: Depending on your situation you may need a strict budget, if you find you need to change money habits or get spending under control. Consider finding a financi...

Lori’s husband, Jim, passed away unexpectedly leaving her with a business and several real estate holdings. Through the process of unwinding the business and selling real estate she realized all the things she did not know and learned a lot. The key was having a great team of people to help her, a financial advisor, an accountant, a real estate agent, an attorney, and others were able to help her...

Nicole and Summer talk about how they use credit cards. The discuss that credit cards are a tool that can help or hurt your finances. They discuss reward points, budget behaviors, and some tips. Ultimately you need to do what works best for you. Be thoughtful and educated in your credit card usage. If you would like to learn more about Rock House Financial and the services offered see our website...

Summary Becca’s husband died from complications of Covid at 51. He had a financial planning business and a hedge fund he ran with several investors. She shares her experience of not being on the business documents and bank accounts and needing to unwind those businesses. As the wife of a financial planner she shares from her perspective what type of advisor to look for and how valuable an advisor...

Summary Each financial situation is unique, but many people have been saving into an IRA or pre-tax 401(k) throughout their lives. At retirement, this money will be taxable upon withdrawal. However, converting the money to a Roth IRA could change that. Summer and Nicole share stories of real clients who decided a Roth conversion was right for their situation. Taxes, charitable gifts, and inheritan...

Each financial situation is unique, but many people have been saving into an IRA or pre-tax 401(k) throughout their lives. At retirement, this money will be taxable upon withdrawal. However, converting the money to a Roth IRA could change that. Summer and Nicole share stories of real clients who decided a Roth conversion was right for their situation. Taxes, charitable gifts, and inheritance all c...

When Perri Ann’s husband passed away, she was left with major debts and barely able to afford the funeral. His prolonged sickness and care left them without income for several years. Unfortunately, he had no life insurance or employee benefits to keep them afloat. Financially, they were at rock bottom after his passing, and Perri Ann had to rebuild her life. She graduated from pharmacy school, beg...

If you tune out or shy away from conversations about investing, this episode is for YOU. Summer and Nicole explain and discuss the basics of investing to help equip their listeners with entry-level understanding. The reality is, you cannot run away from this topic forever. Especially if you are a widow! This episode is a great first step if all the investing talk goes over your head. Education is...

Cindy lost her husband to a sudden and unexpected heart attack. He was not yet 50 years old. They had six children, four of them were still living in the home when he passed. Shattered, Cindy relied on those around her to lift her up and helped her deal with her grief, raising her kids, and sorting out her finances. In this raw and vulnerable episode, Cindy explains how she moved forward. Her bigg...

Many widows need to sell their home or a rental or business after losing their spouse. What are the tax implications? Nicole and Summer talk through some different scenarios and some tax saving ideas. Make sure you get that step up in basis at the death of your spouse. And keep good records on the improvements to your real estate. Resources https://www.kitces.com/blog/step-up-in-basis-gifting-asse...