Widow, Wisdom & Wealth™: Thriving in Career and Parenthood After Loss

Emotions play a big part in investing. They often dictate where you put your money, when you move your money, and whether or not you ask for help. Today we will be touching on some of the more common emotions investors may experience as they plan for retirement. Market volatility has been stirring up a lot of less-than-pleasant feelings among investors, especially those that have been enjoying the...

There are plenty of decisions that you'll make in the retirement planning process that can't be undone, so you want to make sure that you make the right call. In this episode, we'll explain why these decisions are so important and can't be undone. Here's some of what you'll learn in this episode: What happens if you take social security early, then change your mind? (2:05) Why making the right dec...

Want to know the secrets to experiencing satisfaction in retirement? We've discovered five key situations to which your financial plan needs to lead you. If you can key in on these five points, you'll have a high chance to achieve retirement satisfaction. Here's some of what you'll learn in this episode: How bucket planning can help you continue to have growth while having access to funds. (2:15)...

Going through a divorce at any age is difficult but doing it near or in retirement adds all sorts of additional complications. On part two of this conversation, we'll talk about some of the financial mistakes we see people make in the midst of a divorce when it comes to other assets besides the house. Here's some of what you'll learn on this episode: The asset(s) you choose might have significant...

Going through a divorce at any age is difficult but doing it near or in retirement adds all sorts of additional complications. On this episode, we'll talk about some of the financial mistakes we see people make in the midst of a divorce. Divorcee are often in a more complicated financial situation than many of the widows and widowers we work with. The reason being widows and widowers had their por...

In some ways, retirement planning was easier for past generations. From the loss of pensions to changes in the market retirement planning just isn't what it used to be. Planning has even changed throughout the past five years. So, what do we need to prepare for that our parents and grandparents didn't? We are living longer than ever before and therefore our plans need to support longevity. You hav...

With current market volatility, you may be thinking of working with an advisor if you've been DIYing your retirement up until this point. However, with so many options and information out there what should you look for in an advisor? If an advisor seems to work with a lot of clients, you definitely want to make sure they have time to customize and work with you personally. Does your advisor only t...

Having an advisor that effectively communicates to you is essential in understanding your financial plan and the strategy they are helping you build. There are so many ways to communicate these days: in person, through phones, social media, podcasts, etc. Which do you prefer? During the pandemic, 41% of advisors, including Donna, increased communication with their clients through zoom and technolo...

So, what is the secret to a successful retirement? Oftentimes, it's learning to get out of your own way! When the market is volatile, we may be fearful and pull out of investments. On the other hand, sometimes we get too greedy and invest more than we should into a certain product. If you're only making financial decisions based on a tax bill, you are probably leaving yourself open to some blind s...

We all know the basics of being healthy: eating well, working out, refraining from processed foods, etc. On today's episode, we thought it would be fun to compare some common diet tips to retirement planning to help you fix some of those unhealthy financial habits. Empty calories are in a lot of different foods, in our finances we can find these in auto-generated plans that aren't customized to yo...

Trying to keep up with news today feels like a 24-hour job. As if the year hasn't been unpredictable enough, now we have Elon Musk buying Twitter. With everything happening, it's not surprising that markets have reacted by moving up and down even more than usual. If you've paid attention to any financial news or information, there are likely a few terms and phrases that you've been hearing more th...

Life insurance can be intimidating for a lot of reasons but it has changed a lot over the years. On today's episode, we are going to explore some important reasons you may want to consider life insurance and what factors you should consider when making this important decision. If you have a family, you really need to consider income replacement. Donna herself, was able to raise her family and send...

In retirement planning, there are some big birthdays you need to keep in mind. When you turn 50, the government allows you to put additional catch-up contributions into your retirement accounts. This is a great way to save more if you feel the need to. A lot of people are unaware that when you turn 55 you can take withdrawals from your 401(k) without penalty, although they are still taxed and you'...

The financial industry is full of jargon and designations that can be confusing to navigate. Do you know the difference between an IAR and an RIA? What is a CFP or a Series 66? Donna herself is an IAR financial professional, meaning she can help clients with solutions that may be a better fit for widows or widowers. She's also a CFP, a certified financial planner, and a fiduciary. On today's episo...

How can guessing at retirement planning go wrong? On today's show, we'll discuss some of the major areas in retirement planning you don't want to guess at. Do you know how much income you'll need on a monthly basis? Guessing can leave you without enough money to cover your expenses in the future. Do you know what major purchases you will need in retirement? A lot of people combine this with their...

What are the most important parts of your retirement plan? It's great to make fun decisions regarding what you want to do in retirement, but are you also planning for how much time in retirement you'll have? We don't want you to outlive your money. The best time to start saving is now. It's great to know how much you want to spend in retirement; however, you need to know where that money is going...

A lot of people have been DIYing their financial plan, especially during the past decade when the market has been relatively good. But that won't always be the case and having an advisor can help you navigate market downturns and prevent you from making emotional financial decisions. So, who needs an advisor? Well, most of us. Maybe you are too much of a procrastinator. Or perhaps you just don't h...

Family budgets, college, weddings, there is a lot to consider financially when it comes to our kids. On today's episode, we are going to discuss the role our kids play in our retirement plan. If you have children and depending on their ages, you've probably thought about this before. If you have your kids later in life, you may be looking at these expenses as you approach retirement age. Or maybe...

It's time for some fill-in-the-blank questions with Donna! What is the best way to be sure you won't run out of money in retirement? If you hit retirement and you don't have a plan in place, you will never know how much you can afford. You don't want to outlive your money. What do most clients worry about when they first come to visit an advisor? Retirement is a big worry, but a lot of people are...

With only a few days left in 2021, we are continuing our countdown of 22 money resolutions for 2022. Have you checked your credit lately? This is easy and free. Doing so can show you exactly where your debt stands. Check your fees in the new year. This can relate to your investments or your subscription services. Or share your knowledge with loved ones. If you have an advisor, you really love or i...

As 2021 winds down we want to discuss some money resolutions you can make in 2022 to have a more prosperous financial year. Most of them will be pretty easy, while some may require you to meet up with your financial advisor. On today's podcast, we'll go over the first 11 of 22 resolutions. We'll discuss reducing debt, checking your designated beneficiaries, whether you should refinance, and more....

Do you feel like you are behind when it comes to saving for retirement? The first step you should take is meeting with an advisor and really seeing where you are in your plan, it might surprise you. On today's episode, we will be discussing 5 opportunities for retirement's late bloomers.   Get additional financial information: https://sephtonfinancial.com/2021/12/5-opportunities-for-retirements-la...

We've all done it before, but when it comes to our finances, we don't want to cut corners. This can leave us blindsided once we are in retirement. If you feel behind on your retirement savings, you may be tempted to take on more risk which can be a way people cut corners and end up losing money. Are your legal documents established and up to date? Do you have a plan for long-term care? Your financ...

401(k)s, IRAs, and Roth accounts are all ways to traditionally fund your retirement. But what are some other buckets of income that may help your plan? On today's episode, we are going to talk about 5 unexpected sources of income and how they can help your financial plan. We will discuss, annuities and stocks, Health Savings Accounts, rentals, reverse mortgages, and part-time jobs. Having extra st...

You may feel financially comfortable with your retirement plan, but have you started planning out what you will actually do during retirement?  With retirement comes a lot of free time. Planning out how you are going to live and what you are going to do is important. Maybe you want to visit the grandkids more often, golf more, or get on the road to travel. On today's episode, we are exploring what...