Social Security: Answers From The Experts

Trailblazing Women Lawyers Adding “Lustre” To Image Of Retired Career Women

 

Welcome to episode #19 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Karen Wagner & Erica Baird and they discuss what the Lustre movement is all about, which is basically a new way to think about retiring so that there is no loss of meaning and excitement.

Erica Baird is a retired lawyer with a career spanning four decades. She was the first woman partner in the General Counsel’s Office of her then Big 6 accounting firm, working in the US and abroad on some of the major financial issues of the day. Karen Wagner was the first woman litigation partner at her global law firm in New York City. She practiced law for forty years at her global law firm. After they retired, Erica and Karen co-founded Lustre, a blog for retired career women who want to defy stereotypes and create a new paradigm for the next third of their lives. They also wrote a book, and have partnered with various entities offering goods or services of interest to their cohort. 

 

Here is what to expect on this week’s show:

A look into Karen’s and Erica’s backgrounds and what drove them to both go into the law and be trailblazers as well.

A look into why Karen & Erica decided to start Lustre, which was in reaction to retiring and feeling like they were again in an unseen group.

The purpose of Lustre and the ways they are attempting to fulfill this purpose.

Why this time was different, in that it was the first time that lots of working women were retiring en mass.

The vast differences between the male and female experience of being retirement age and why this is important.

The importance of community for women retirees, who often feel a loss after not working anymore, often times more so than men.

The importance of finding meaning after retirement, which can affect one’s life in ways that you wouldn’t think possible.

How what the baby boomers have been through, and the knowledge gained, can be used to help the younger generations.

The type of Social Security related issues that are often talked about on Lustre.

Advice for those who are approaching retirement and information about how to joint the Lustre movement.

 

 

Relevant Links:

https://www.lustre.net

Connect with Karen & Erica and Lustre:

LinkedIn: https://www.linkedin.com/company/lustre-llc/

Facebook: https://www.facebook.com/thelustrelife

Twitter: https://twitter.com/lustre_life

Instagram: http://instagram.com/lustre.life

 

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Bill Arnone Shares His Extensive Historical Knowledge On Social Insurance

 

Welcome to episode #18 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Bill Arnone and Bill share’s his extensive knowledge about America’s Social Insurance programs (Social Security, Medicare, Unemployment Insurance, etc.).

Bill Arnone is the CEO of the National Academy of Social Insurance. A founding Member and former Board Member of the National Academy of Social Insurance, Bill is now contributing his expertise in retirement security and employee benefits law by serving as Co-Chair of the Academy's 22nd Annual Policy Conference, Beyond the Bad Economy: Jobs, Retirement, Health and Social Insurance. Arnone was a Partner in the Business Tax Services practice of Ernst & Young LLP, specializing in Employee Financial Education and Counseling. Before joining Ernst & Young in 1994, Arnone was a Benefit Consultant and Director of Retirement and Financial Planning at Buck Consultants.

 

Here is what to expect on this week’s show:

Information about how Bill got into politics and why he decided to study law but not become practice law at all.

How Bill made the switch into helping others’ “financial well being” through consulting private companies.

The unfortunate truth that people do not plan for their retirement in a smart way.

Information about the National Academy Of Social Insurance.

The generational challenge that repeats itself in terms of the social insurance programs that people can partake in.

The four pillars of social insurance, and what they are aimed at addressing.

How can America create a “short income” for everyone at every stage of life, no matter the route in life that American takes.

A look at the “Millennial Myth” that Social Security and Medicare won’t be there for younger Americans when they get older.

How has covid-19 affected the social insurance programs, and what does this mean for the next unforeseen catastrophe?

What soon-to-be retirees can do to actually improve their retirement finances (and common mistakes).

 

 

Relevant Links:

https://www.nasi.org/

 

Connect with Bill & NASI:

LinkedIn: https://www.linkedin.com/in/william-arnone-25986b2/

Facebook: https://www.facebook.com/NationalAcademyofSocialInsurance

Twitter: https://twitter.com/socialinsurance

Email: [email protected]

 

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Understanding Behavioral Finance, The secret To This Advisor’s Success

 

Welcome to episode #17 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Kris Flammang she picks his brain about many different topics related to financial planning, retirement planning, and how exactly he is able to service his clients so well.

Kris is a co-owner of LPF Financial Advisors. Kris has been in financial services since 1999 after moving to Florida from his home state of Nebraska. He currently carries the Chartered Retirement Planning Counselor(CRPC) Accredited Investment Fiduciary(AIF) and Behavioral Financial Advisor (BFA) designations. He has co-authored a book on personal financial planning as well.

 

 

Here is what to expect on this week’s show:

Information about Kris’ background and the how being a scuba diving instructor eventually led him to become a financial planner.

Why Kris decided to get his Behavioral Financial Advisor designation.

How Kris evaluates the work vs life balance in his life and his advice for others.

Information about the almost 1200 families that Kris gives financial advice to.

A look at the demographics of the people that come to Kris for help in financial planning.

A look at the philosophical reasons that led the U.S. to the financial crisis of ’08, which Kris talks about in a book he co-wrote.

A story about how Kris was able to help a client to really help their financial life as they approached retirement age.

Why being honest with someone trying to help you figure out your finances will lead to such better results for everyone.

The role of trust in the client and financial planner relationship (it’s not as simple as it may seem).

The most common questions regarding Social Security that Kris’ clients should be asking but unfortunately usually do not.

 

 

Relevant Links:

https://www.lpfadvisors.com

 

Connect with Kris:

LinkedIn: https://www.linkedin.com/in/kristopher-flammang-crpc®aif®bfa®-97857453/

Facebook: https://www.facebook.com/kris.flammang

Twitter: https://twitter.com/kflammang

 

 

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A Medicare Insurance Advisor‘s Insights Into Avoiding Penalties And Pitfalls

 

Welcome to episode #16 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with John Norce and they talk all things Medicare as John shares his extensive knowledge about the program and gives out lots of information about the major questions people have.

John Norce is the founder of Medicare Portal, an insurance agency specializing in the education and enrollment of individuals into Medicare. During his 30 years in the insurance industry, John's experience has assisted thousands of clients experience a seamless enrollment into Medicare. His extensive knowledge of Medicare uniquely qualifies him to be a certified Continuing Education Instructor where he provides continuing education classes on complex topics such as navigating Medicare and what it means for beneficiaries as well as key professional service providers

 

Here is what to expect on this week’s show:

Information on John’s background and why he decided to help people with Medicare.

Information about how Medicare and the services John can provide works state by state.

How covid has affected how John can provide the services he can.

What do people need to know about the Medicare process before they retire?

When should somebody contact someone like John, and when exactly does someone’s Medicare benefits kick in.

The type of person that reaches out to John for help with their Medicare situation.

Information about the two types of Medicare and information about what the penalties for not signing up correctly are exactly.

Information about Medigap and how that works with Medicare benefits.

Information about Medicare for business owners and what they need to know.

The most common myths about Medicare.

How will the vast retirement of baby boomers every day affect Medicare moving forward.

 

Relevant Links:

http://www.medicareportal.org/

Connect with John or Medicare Portal:

LinkedIn: https://www.linkedin.com/in/john-norce/

Phone: 703-214-4600

Email: [email protected]

 

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A CFP’s Deep Dive Into Women-Specific Holistic Retirement Income Planning

 

Welcome to episode #15 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Nadine Burns and they discuss Nadine’s views on retirement planning, especially for women, and why they should think about the financiers of retirement differently then men do.

Nadine is currently the President and CEO of A New Path Financial, LLC, a Financial Planning firm in Ann Arbor. Nadine is a Certified Financial Planning Professional who looks at your entire financial picture, where you are currently, and works with you on a roadmap to help achieve your goals and dreams. She deals heavily with people in retirement and soon-to-be retirees. Although she works with a wide variety of clients, Nadine has a special place for “Smart Women,”or those women who want to know more about their financial well-being. Women tend to have several balls in the air at once and appreciate someone who is looking into their full financial life, placing them first in priority and making sure that all financial bases are covered.

 

 

Here is what to expect on this week’s show:

A look at Nadine’s background and why she decided to go into financial planning.

Some of the ways that A New Path Financial actually customizes the experience their clients have so as to better serve them.

How Nadine helps clients to decide when the correct time to collect Social Security is, as well as how she helps them to plan their monthly/yearly finances.

How often Nadine reviews her financial plans with her clients.

Some of the conversations that happen surrounding the taxability of Social Security benefits.

How to think about the equity you’ve created in your home for your retirement.

How Nadine defines success when it comes to Social Security and financial planning for retirement?

Why women need to think about long term financial planning more so than men do.

What changes would Nadine make to Social Security if she was in control.

 

Relevant Links:

https://www.anewpathfinancial.com

 

Connect with Nadine:

 

LinkedIn: https://www.linkedin.com/in/nadine-burns-a288a71/

Facebook: https://www.facebook.com/nadine.burns.58

Email: [email protected]

Nadine’s address & disclosure: 

3003 Washtenaw Avenue, Suite 4, Ann Arbor MI 48104

Securities offered through Sigma Financial Corporation, member FINRA (FINRA.org) and SIPC (SIPC.org). Investment Advisory services offered through Sigma Planning Corporation, a Registered Investment Advisor. A New Path Financial, LLC is independent of Sigma Financial Corporation and Sigma Planning Corporation.

 

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Alicia Munnell Of the Center for Retirement Research Shares Her Extensive Social Security Knowledge And Advice

 

Welcome to episode #14 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Alicia Munnell and they discuss the major issues facing Social Security and retirees at the moment. With Alicia’s extensive knowledge on these issues this is certainly an episode you’ll want to listen to.

Alicia H. Munnell is the Peter F. Drucker Professor of Management Sciences at Boston College’s Carroll School of Management. She also serves as the director of the Center for Retirement Research at Boston College. Before joining Boston College in 1997, Alicia Munnell was a member of the President’s Council of Economic Advisers (1995-1997) and assistant secretary of the Treasury for economic policy (1993-1995). Previously, she spent 20 years at the Federal Reserve Bank of Boston (1973-1993), where she became senior vice president and director of research in 1984. She has published many articles, authored numerous books, and edited several volumes on tax policy, Social Security, public and private pensions, and productivity.

 

 

Here is what to expect on this week’s show:

A little bit about Alicia’s very impressive background and what inspired her to study economics and become interested in retirement issues.

Does the Center for Retirement Research’s studies make a high level impact on policy?

Why does Alicia feel that Social Security is the most valuable program that the U.S. government runs?

Is there a political will to fix the issues that Social Security is currently facing?

How is it that a program that pretty much everyone loves continues to not get enough attention?

A look into the incredible opportunity that is reverse mortgages and why people are ignoring this amazing option for their financial life.

A look at how 401k and IRAs are operating for retirees and soon-to-be retirees and suggestions about how to look at them.

Besides just saving more what can people do to secure their retirement finances in a better way?

How Alicia’s time at the Federal Reserve Bank of Boston has informed her views on saving for retirement.

What actions would Alicia take to help keep Social Security solvent and healthy?

 

Relevant Links: 

https://crr.bc.edu

 

Connect with Alicia & CRR Boston College: 

LinkedIn: https://www.linkedin.com/in/alicia-h-munnell-7babb34/

Facebook: https://www.facebook.com/alicia.munnell

Twitter: https://twitter.com/RetirementRsrch

 

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Securing The Future Of Your Heirs With Estate Planning

 

Welcome to episode #13 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Allison B. Cruz and they discuss the specifics of estate planning and wills and in general some of the issues that retirees have to think about when it’s time to plan passing down their resources.

More than two decades of experience has made Allison comfortable in a court setting, skilled in negotiations, creative in developing solutions, meticulous with the drafting of documents and trusted in advising clients. Community dedication is important to Allison. Her commitments to the Monterey Bay area are as:

-      Committee Member for the Animal Shelter of Santa Cruz County, educating the public in planning for beloved pets when caregivers are no longer able to do so.

-      Vice President of the non-profit, For Kids Foundation Monterey Bay, which funds the critical needs of local youth.

-      Founder of the chapter, Trips for Kids Santa Cruz, providing opportunities for under-privileged, at-risk teens to enjoy a healthy activity and achieve confidence through mountain biking.

 

 

Here is what to expect on this week’s show:

Why Allison went into the law and estate planning, and in general why she decided to help retirees and soon-to-be retirees.

The amount of emotional interactions that Allison experiences in her line of helpful work with her client.

The tax implications of the work Allison does with her clients.

Useful information about the probate process and how wills work exactly.

Why setting up your will and probate can actually help you while you are still alive.

Advice about how you can leave money for beneficiaries after you pass.

What helps you to be prepared for retirement, how can you make sure that you’ll be able to handle the process smoothly?

Why education, and being open to having these conversations, is so important to being successful with the decisions this stage in life entails.

What you need to do if you’re going to cut someone out of your will and they’re not going to be expecting that.

Changes to Medicare and Social Security that Allison would make if she had the power to.

 

Allison’s website: https://www.allisonbcruz.com/

 

 

 

 

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The Danger Of Social Security “Short-Term” Thinking

 

Welcome to episode #12 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Dave Freitag and they discuss his educated views on all sorts of retirement and Social Security issues, and expose many options that people have available to them unknowingly.

David Freitag, an industry veteran in financial services and wealth management, brings a deep passion and unparalleled expertise in Social Security filing strategies and retirement income planning to his current role as a financial planning consultant with Massachusetts Mutual Life Insurance Company (MassMutual). He has been featured in Market Watch, CNBC, USA Today Money, and The Street.Com. David holds Chartered Life Underwriter, Chartered Financial Consultant, Chartered Retirement Planning Consultant designations, and his Series 7 and 24 securities licenses. He also holds a Master of Education and Bachelor of Science degrees from the University of Maryland.

 

Here is what to expect on this week’s show:

A little bit about Dave’s background and how he came to be a financial planner who is so interested in Social Security.

The common mistakes that Dave’s sees people making as they plan for retirement.

An example of how a holistic approach to Social Security decisions is the right way to go, showing that everyone’s story is different.

Shocking statistics of assumptions that people have about their Social Security benefits.

Martha and Dave discuss the errant belief that “Social Security is broke”.

How would Dave extend Social Security, in a healthy way, if he had the power to do so.

How the baby boomer retirement experience differs from previous generations.

Some interesting information about Dave you may expect from his job description.

The importance of planning for one partners death affect upon the other financially early on.

 

Connect with Dave:

LinkedIn: https://www.linkedin.com/in/dave-freitag-4a71093/

Twitter: https://twitter.com/DavidFreitag1

Email: [email protected]

 

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Retirement Advice from a Successful Banker Turned Personal Finance Columnist

 

Welcome to episode #11 of Social Security: Answers From The Experts with Martha Shedden. In this highly informative episode Martha sits down with Elliot Raphaelson and he shares some very useful information about Social Security benefits, and how one can take advantage of them in ways many people are unaware of.

 

As a former bank executive, university lecturer and court mediator helping people resolve financial disputes, Elliot Raphaelson has seen all sides of the savings game and is no novice when it comes to writing about money. A retired executive of Chase Manhattan Bank, he has taught courses in personal financial planning at The New School for Social Research and at the U.S. Military Academy at West Point, and he has conducted seminars for Chase, Dow Jones & Co. and other corporations. He is currently teaching personal financial planning for Rollins College in Orlando, Florida, at the Rollins Center for Lifelong Learning.

Raphaelson’s past publications include “How to Be Your Own Financial Planner” and “Planning Your Financial Future.” His writing has appeared in The New York Times, Town & Country, Vogue, Self, Savvy and Working Woman magazines. Raphaelson also worked as a certified mediator and trainer in a Florida county court, where he helped resolve personal financial problems of every description.

 

Here is what to expect on this week’s show:

A look into Elliot’s background, which included 23 years at Chase bank before he became a highly respected writer.

How and why Elliot started teaching a course of personal finance for the New School of Social Research, which greatly affected his career.

Some of the most common questions that Elliot relieves for the columns he writers.

How it is that his articles on Social Security get more questions and more of a response than his articles on other subjects.

Some of the unexpected aspects of retirement finances that people routinely run into.

Why your benefits can change greatly if you get divorced after 10 years of marriage as opposed to less than 10.

Some useful information about survival benefits and how that works even if you get remarried or got divorce before one partner passed away.

What changes to Social Security would Elliot make if he was in charge of the program.

Links:

https://tribunecontentagency.com/premium-content/business/personal-finance/the-savings-game/

https://muckrack.com/elliot-raphaelson/articles

 

Connect with Elliot:

LinkedIn: https://www.linkedin.com/in/elliot-raphaelson-001aa396/

 

 

 

 

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Brandon Steele’s (CFP) Holistic Retirement Planning Approach For Clients And Financial Planners

 

Welcome to episode #10 of Social Security: Answers From The Experts with Martha Shedden. In this highly informative episode Martha sits down with Brandon Steele and they discuss many topics regarding retirement and Social Security issues.

Brandon is a Certified Financial Planner for Mainsail Financial Group. Brandon believes that the more knowledgeable you feel, the more empowered and confident you will be in making financial decisions. In April 2021, he released his first book, Retire by Design, which shares helpful strategies to help readers design a thoughtful retirement plan. Brandon truly enjoys the synergy that exists between the business and personal sides of life. As much as business is a part of his life, his life is also a part of my business. He strives to bring the two together when possible. 

 

Here is what to expect on this week’s show:

A little bit about Brandon’s history and what drove him to become a CFP and to help people with their important financial decisions.

A look into what is wrong with the way that people normally approach their Social Security and financial retirement decisions.

What does success look like in terms of retirement planning and Social Security? How should one really think about this?

What will be the potential impact of future legislation on your IRA and potential decisions you can make concerning this.

Information about how taxes work with Social Security benefits and retirement plans.

What can you do to protect yourself from the effects of inflation in terms of your retirement finances?

When exactly Brandon starts to work with his clients in terms of their age.

Good (maybe unexpected) insights into how working while receiving Social Security works.

Links:

https://www.mainsailfg.com

 

Connect with Brandon:

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/blsteele/

Twitter: https://twitter.com/brandon_steele_

Facebook: https://www.facebook.com/pages/category/Financial-Planner/Mainsail-Financial-Group-1167236293449528/

Instagram: http://instagram.com/theblsteele

YouTube: https://www.youtube.com/channel/UCLdYRyOCfH9XkfAJus3xNJQ

 

 

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