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

Are you aware that not all retirement accounts are created equal? In this episode, we'll delve into the different types of retirement accounts, including 401(k)s, IRAs, Roths, and more. We'll help you weigh the pros and cons of each and give you insights into the purposes they serve so that you can make informed decisions for your retirement plan.

Here's some of what we'll discuss in this episode:

• Pros and cons of 401(k)s, 403(b)s, and 457 plans. (1:36)
• Pros and cons of traditional and Roth IRAs. (4:29)
• Pros and cons of HSAs and FSAs. (9:46)
• What to keep in mind with Annuities, CDs, and Dividend Stocks (11:55)
• How do you choose the best option for your plan? (15:15)

Get additional financial information: https://sephtonfinancial.com/podcasts/

Do you ever feel like your retirement planning goals are always moving? You're not alone. We've found that people often move the goalposts in their own retirement planning and most of the time to their detriment. In this episode, we're diving deep into the psychology of retirement planning and the dangers of moving the goalposts.

Here's some of what we'll discuss in this episode:

• The risk of waiting for a certain number in the bank before implementing your investment strategy. (2:15)
• How the "I'm going to get serious about saving next year" attitude often leads to missed opportunities. (5:44)
• The danger of pushing off reducing your risk. (7:41)
• Having a plan before picking a retirement date. (11:50)

Get additional financial information: https://sephtonfinancial.com/podcasts/

Welcome to part two of our discussion about personality types and how your financial advisor should work with you. Last time we covered four different personality types, and we'll be continuing that theme today with the remainder of our financial personalities.

Most people fit into one of 8 personality categories. Find out which one best describes you and what that means when it comes to financial planning.

Here's some of what we'll discuss in this episode:

• Are you a silo stocker? (2:03)
• Are you an odd couple when it comes to finances? (6:28)
• Are you a gambler? (9:59)

Get additional financial information: https://sephtonfinancial.com/podcasts/

Are you tired of one-size-fits-all financial advice that doesn't quite fit your unique needs and goals?

In this episode, we'll tackle the question of whether an advisor should tailor a plan to fit your personality. We'll discuss the pros and cons of different approaches and explore how understanding your financial personality can help you make more informed decisions.

Here's some of what we'll discuss in this episode:

• The financial personality is scarred from something that's happened to them in their financial journey. (1:55)
• How we work with people that over-analyze to the point of being unable to make a decision? (5:55)
• The do-it-yourselfer does a good job but are they able to understand every piece of the financial puzzle? (9:31)
• The person that buries their head in the sand to avoid having to learn everything about their portfolio. (15:00)

Get additional financial information: https://sephtonfinancial.com/podcasts/

Are you confident that your financial plan is complete? Many people believe they have a solid plan in place, only to realize later that they've missed important areas. From not accounting for long-term care expenses to overlooking the impact of taxes on retirement income, there are many ways a financial plan can be incomplete.

On this episode, we'll be pointing out the most common areas people overlook when planning and provide actionable tips to ensure that your plan is as comprehensive as possible.

Here's some of what we'll discuss in this episode:

• Donna addresses the danger posed by a market downturn early on in your retirement. (2:17)
• Most Americans don't realize they have a tremendous opportunity to save money on taxes as they approach retirement. And if you factor in that taxes might go up in the future it highlights why this is often one of the biggest missing pieces in the average retirement plan. (7:42)
• Another overlooked area of planning is when people underestimate the likelihood they'll have a long-term care need when they get older. (11:00)
• Donna underscores why it's important to have a living and breathing financial plan and not one that you just set and forget. (15:10)

Listen to the full episode to also learn about inflation, the dangers of rising medical costs, the challenges presented by RMDs, how to handle unexpected job losses and more…

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Get additional financial information: https://sephtonfinancial.com/podcasts/

In this episode, we'll discuss five of the most common financial fears that come up in our conversations with retirees and pre-retirees. When you have one of these fears, what can you do to address them? Donna will tell you what approach we take with clients and how proper planning can alleviate much of the worry.

Here's some of what we'll discuss in this episode:

• How we help someone address the fear of running out of money. (2:05)
• The life events that could deplete your nest egg in retirement. (4:11)
• Focusing on being more efficient with taxes so you don't have to pay more than you need to. (7:04)
• What does a legacy mean to you and have you planned for it? (10:30)
• Having to alter the lifestyle and reduce the quality of life you hope for in retirement. (14:44)

Get additional financial information: https://sephtonfinancial.com/podcasts/

Today's guest is Mark Davis. Mark is an estate lawyer with the law office, Connor Elder Law in Lafayette Hill. He has over 20 years of experience in the field of aging and disability services as a legal and public policy advocate.

In this episode, we will discuss important aspects of estate planning. Mark shares his wisdom with us, from how to choose a lawyer to navigating establishing a will.

On this episode, we'll share:

• Listen here to learn about the power of attorney. (13:32)
• What is the timeline for a widow getting her will redone after her spouse passes? (21:58)
• Learn about finding a good estate lawyer. (28:06)

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Learn about our guest:

https://connorelderlaw.com/

Check out Donna's new book coming out soon: https://www.widow-wisdom.com/

Get additional financial information: https://sephtonfinancial.com/podcasts/

Sometimes it might seem like talking to your financial advisor feels like talking to a therapist, and that's ok. Let's discuss some scenarios where it's almost inevitable that a talk with your advisor seems like a counseling session.

On this episode, we'll share:

• Discussing career difficulties with your advisor. (5:27)
• Does money stress you out? (7:30)
• Sometimes you just need a sounding board, and that's okay. (10:00)

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Check out Donna's new book coming out soon: https://www.widow-wisdom.com/

Get additional financial information: https://sephtonfinancial.com/podcasts/

You need to make smart decisions during major life events, and we are here to help guide you. Whether it's a job change or divorce, we recommend taking three months to work everything out.

Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process. We'll explain how to handle big changes the right way.

On this episode, we'll share:

• How to handle a job change. (3:09)
• How to handle divorce. (5:48)
• How to handle an inheritance. (8:54)

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Check out Donna's new book coming out soon: https://www.widow-wisdom.com/

Get additional financial information: https://sephtonfinancial.com/podcasts/

Getting through retirement can be a lot like running a marathon. From planning and preparation to a proper diet, a lot of these skills work in both worlds. With marathons, you don't want to start to fast and tire yourself out before the finish.

The same can be said for spending your retirement money. Today we'll share some of the similarities of getting to the finish line in racing and retirement.

On this episode, we'll share:

• You might think you don't need planning and preparation, but you're wrong. (2:36)
• Your diet is essential for running and retirement planning. (5:27)
• Don't start a race or your retirement too fast. (9:06)

If you are interested in any of the topics we discussed, please reach out and we would be happy to help you navigate your financial situation.

Check out Donna's new book coming out soon: https://www.widow-wisdom.com/

Get additional financial information: https://sephtonfinancial.com/podcasts/