You’re a woman on the cusp of “retirement” naturally feeling some anxiety. We are two financial planners who take this subject seriously (but ourselves less so). We will help you feel more confident about your choices by cutting through the myths and mysteries. Through conversations and interviews with both subject-experts and women who have gone through what you are approaching, you will have the correct information and motivation to be in control of your future.
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100: What GenX Women Need to Know About Retirement
Épisode 100
mardi 15 octobre 2024 • Durée 34:53
“We’re nothing if not resourceful. That’s our generation’s superpower.” -Kevin
In celebration of the 100th episode of Take Back Retirement, our hosts Stephanie and Kevin Gaines reflect on the defining characteristics of their very own generation–Gen X–and key lessons that women in this age bracket can put into practice today in preparing for retirement.
From the seismic shift from pensions to 401(k) plans, to navigating the rollercoaster of financial events like the 1987 Black Monday and the dot-com bubble at the turn of the century, today’s conversation explores the pivotal moments that molded an entire generation's approach to financial planning.
Our hosts shed light on the realities of midlife day-to-days in the 2020s, from dealing with the fallout of being the “Sandwich Generation” to considerations around financially supporting family members amid shaky times.
At the same time, Stephanie and Kevin celebrate the unique brand of resourcefulness that defines GenX, emphasizing their quest to find “balance, flexibility, and self-determination.”
Key Topics:
The Defining Characteristics of GenXers (5:00)
Why GenXers are More Cautious with Money (10:19)
The “Sandwich Generation” (12:34)
“How Do We Deal With All This Crap?” (18:06)
Accepting That You Can’t Control Everything (22:23)
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
99: The Challenges and Opportunities of Defining Your Identity in Retirement with Elizabeth Parsons
Épisode 99
mardi 1 octobre 2024 • Durée 45:23
“Suddenly you've got to create the content of your life, and that's a completely new enterprise for most people we work with, and it's scary until you can get your hands in the clay and feel confident about having a process.” -Elizabeth Parsons
How do you deal with the massive shift that comes with stepping away from a high-powered career and into retirement?
Our hosts Stephanie McCullough and Kevin Gaines chat with Elizabeth Zelinka Parsons, founder of Encoraco, who has dedicated her life to guiding high achievers through the emotional and psychological challenges of retirement.
After leaving behind a prestigious legal career, Elizabeth was left feeling listless and incomplete. It was her relentless drive to rekindle that sense of purpose that led her to found a company that helps men and women just like her experience a “positive and empowered transition” into their post-career life.
Listen in as Elizabeth teaches us how to overcome the loss of identity and structural void that often accompany retirement. She discusses the art of designing a Life Mosaic, ways to recognize what's missing from your day-to-day, the importance of grieving the end of a career, and why it’s time for all of us to redefine the traditional notion of retirement!
Key Topics:
Elizabeth’s Career and Post-Career Journey (3:35)
Elizabeth’s Typical Client (09:16)
Finding New Ways to Channel Your Professional Skills (19:00)
Why it’s Important to “Grieve” The Loss Of Your Career (20:28)
Existential versus Categorical Identity (28:02)
Consider Navigating Retirement with a Buddy! (32:22)
Metrics for Success (36:56)
Key Takeaways (41:13)
90: Guiding Women to a Richer, More Fulfilling Retirement with Dan Haylett
Épisode 90
jeudi 16 mai 2024 • Durée 52:45
“Human beings going into retirement will find every excuse to not spend their money” - Dan Haylett
Our hosts Stephanie McCullough and Kevin Gaines sit down with financial advisor Dan Haylett. As the host of the “Humans Vs Retirement” podcast, Dan tells us how he inspires retirees to grab life by the horns and experience true wealth in their later years.
Listen in as Dan breaks down the five Fs of retirement, how to find meaning in a post-career life, the importance of asking what it is you’re retiring to rather than simply what you’re retiring from, and how to overcome the fear of spending your savings once you finally cross that threshold into retirement.
He also addresses the all-too-common fear of running out of your hard-earned money after stepping away from your career life. Dan teaches us to shatter that paradigm by putting our money to work and reframing the idea of “leaving a legacy” to our children.
Key Topics:
The Five Fs of Retiring Successfully (3:42)
Helping Retirees Find Purpose in Retirement (8:45)
Reframing the Structure of Your Life in Retirement (18:24)
Overcoming Frugality (25:00)
Embracing Future Adjustments (32:32)
Getting Comfortable with Uncertainty (36:40)
Asset Location, Asset Assignment (40:20)
The New Retirement Mindset (48:11)
Stephanie and Kevin’s Wrap-Up and Takeaways (51:52)
89: Navigating the Emotional and Practical Realms of Eldercare Management with Nancy May
Épisode 89
mercredi 1 mai 2024 • Durée 54:56
"Dad, you trusted me with everything. I'm trusting you with the truth.” -Nancy May
Our hosts Stephanie McCullough and Kevin Gaines sit down with Nancy May, who drops some real truth bombs relating to eldercare and supporting aging parents and relatives. Nancy’s personal journey sheds light on the complexities and sacrifices involved in this critical role. This candid discussion unpacks the essentials, from establishing a durable power of attorney to assembling a dependable team of legal and financial advisors.
When the care of loved ones falls into your hands, knowing how to navigate family dynamics and the challenges of coordinating care is crucial. This episode peels back the layers of emotion and responsibility that come with making critical decisions, whether it's choosing the right elder care facility or handling the financial burdens that come with it.
The conversation turns to practical strategies for caregiver training, maintaining a cohesive care team, and ensuring the highest quality of life for our aging parents. Nancy's resources, such as her book "How to Survive 911 Medical Emergencies," and her podcast, Eldercare Success, provide listeners with actionable advice and the essential conversations to have now for a better-prepared future. Listen in for a deeper understanding of the eldercare landscape, and the tools to confidently step into the role of caregiver.
Key Topics:
Welcome, Eldercare Expert, Nancy May (02:33)
Financial and Emotional Impacts on Caregivers of Aging Parents (04:04)
Caregiving Responsibilities and Decision-making for Aging Parents (07:50)
End-of-life and Estate Planning (13:21)
Aging Care Facilities, What to Know (23:42)
The Importance of Understanding Contracts and Quality of Care (28:45)
Finding and Managing Trusted Caregivers for Elderly Parents (38:27)
88: Radical Self-Acceptance: A Path to Financial Wellness for Women with ADHD with Diann Wingert
Épisode 88
lundi 15 avril 2024 • Durée 56:50
“Every single thing in my life that has ever terrorized me and terrified me, and I avoided like nobody's business, when I finally either had no place else to run, or I chose to turn around and face it, it has never been as bad as I thought it would be. It has never been as shameful as continuing to avoid.”
Our hosts Stephanie McCullough of Sofia Financial and Kevin Gaines of American Financial Management Group chat with Diann Wingert, a seasoned cognitive behavioral coach, about all things financial and mental well-being as a woman with ADHD.
Ever wondered how ADHD plays out differently in women? This episode shatters misconceptions, revealing why so many women slip through the cracks of diagnosis. Our hosts and Diann dissect the subtypes of ADHD, emphasizing the often overlooked inattentive presentation common in women. Diann’s journey to diagnosis at 60 underscores the urgency for awareness and tailored support. They tackle the daily battles and the broader societal implications, like the struggle with impulse control that can drive compulsive shopping and the resulting financial and emotional toll.
Finally, Stephanie, Kevin, and Diann wrap up with a powerful call to radical self-acceptance and the transformative effects of mindfulness in combating cognitive biases. Discover how embracing your unique ADHD traits can lead to more effective self-advocacy and stronger relationships. By adopting lifestyles that play to our strengths, women with ADHD can lead less stressful and more fulfilling lives. Tune in for a heart-to-heart that promises not only understanding but also actionable strategies for thriving with ADHD.
Key Topics:
Welcome, Diann Wingert (02:32)
ADHD in Adults, and Differences in Presentation between Men and Women (04:26)
ADHD Diagnosis and Management for Women and Implications of Different Subtypes (08:49)
ADHD Challenges and Diann’s Experience with a 25-Year Gap in Diagnosis (13:54)
87: Cultivating Creative Connections for Lifelong Wellness with Claire Waite Brown
Épisode 87
dimanche 31 mars 2024 • Durée 42:40
“It's not a line that you are either academic or creative, or you are either scientific or creative, or you are either mathematical…They're not separate.” -Claire Waite Brown
Ever felt like your creative spark got lost in the shuffle of life? Our hosts Stephanie McCullough of Sofia Financial and Kevin Gaines of American Financial Management Group sit down with Claire Waite Brown, the host of the Creativity Found Podcast and founder of CreativityFound.co.uk
Claire helps us break down the barriers that have kept us from embracing our inner artist, whether it's the false notion that creativity equals advanced skill or the stifling labels of our youth. Claire's stories of individuals who've rekindled their creative pursuits later in life are nothing short of inspiring, serving as a beacon for all of us looking to weave creativity back into our lives.
Our hosts and Claire dive into the world of creative hobbies, not just as pastimes, but as vital social and physical lifelines that enrich our existence and connect us to others. They explore the personal and practical obstacles that often hold us back from our creative endeavors, from limited resources to internal doubts. But here's the kicker: embracing creativity isn't just about picking up a paintbrush or a microphone; it's a journey of self-discovery and growth that's waiting for us to take the first step, at any stage of life.
Key Topics:
Welcome Claire Waite Brown! (02:35)
Creativity, Self-Expression, and Labeling (03:10)
The Benefits of Creative Hobbies for Adults (08:17)
Creativity and Personal Growth (18:24)
Creative Pursuits and the Challenges of Monetizing Them (23:48)
Creative Journeys and Overcoming Challenges (28:38)
Where to Re-Spark Your Creative Flame (33:01)
Stephanie and Kevin’s Wrap-Up (38:40)
86: The Success Number: Calculating What You Really Need to Earn with Ella Glasgow
Épisode 86
vendredi 15 mars 2024 • Durée 48:38
“I first ask this question: What is the number to make you feel successful? You and no one else. It might be a scary number. There’s nothing wrong with fear.” -Ella Glasgow
Ever felt the anxiety-inducing pressure of pinning a price tag on your brainchild? Our hosts Stephanie McCullough and Kevin Gaines break that down with guest Ella Glasgow, who's not only a virtual event maestro and vocalist but also a sage when it comes to the alchemy of pricing your services.
Our hosts and Ella steer into the heart of the matter, unveiling the concept of a financial success number—a personalized number that varies wildly between individuals. The journey here is not just about the figures; it's a deep dive into the psyche, untangling the knotted threads of fear that often sway our financial direction. This episode guides you through the practical steps, almost like a financial recipe, to define, calculate, and strategize your way from your present financial landscape to your very own vision of success.
The episode crescendos with an exploration into the intersection of self-assurance and the daunting task of pricing one's worth. Charging for services can often feel like a tightrope walk over a chasm of self-doubt. Yet, this chat reveals how to transform that trepidation into tenacity by pricing based on value and not the whispers of fear. With Ella's insights and personal stories of triumph, this episode isn't just a conversation—it's a confidence booster shot for entrepreneurs (current and potential!) ready to stand tall and claim their worth in the marketplace.
Key Topics:
Welcome, Ella Glasgow! (02:12)
How Ella Arrived to this Work (05:00)
Understanding Money and Business for Creatives (09:02)
Success and Financial Goals through Personalized Equation (13:39)
Budgeting and Financial Success (18:07)
Personal Growth through Financial Literacy (22:10)
85: Mastering Tax Season: Strategies for Preparation, Document Gathering, and Future Planning
Épisode 85
jeudi 29 février 2024 • Durée 32:53
“If they're only worried about that current year, then that's what they're going to focus on. Let your accountant know, ‘I'm interested in what my tax bill's going to be three, five years down the road. So, if there's something we need to be doing, let's have a conversation.’”
Tax season is among us. Or as Kevin would sing, “It’s the most wonderful time of the year!” Whether you share Kevin’s sentiment, or not so much, you’ll want to tune into this one as our hosts Kevin Gaines and Stephanie McCullough peel back the curtain on the world of tax preparation, sharing their own stories of triumph and tribulation. Their chat isn't just theory; they offer actionable tips and stress the importance of software as a reliable sidekick, ensuring you can step into tax season with your head held high and your numbers in order.
Gathering tax documents can feel like a scavenger hunt. Stephanie and Kevin break down the must-have forms, from W-2s to various 1099s, and share strategies for proactively obtaining them, sometimes needing to look beyond the mailbox to online portals. They delve into the importance of keeping an organized record of deductible expenses for smoother and more accurate reporting.
This conversation is designed to help you understand the vital details so that you can either compile your documents like a pro or hand them off to one without a hitch. So join in, and let's chart a course through the fiscal galaxy, armed with knowledge and a dash of humor, because taxes don't have to be all that taxing, after all.
Key Topics:
Tax Season is Here! DIY vs Professional Help (02:09)
Tax Preparation and Documentation (10:52)
Tax Planning and Strategies for Small Business Owners (15:45)
Tax Planning, Retirement Savings and IRAs (20:45)
Tax Planning Strategies for Retirement Accounts and Income Brackets (26:18)
Wrap-Up (29:40)
84: The Retirement Expense You Can't Afford to Ignore: Planning for Healthcare Costs
Épisode 84
jeudi 15 février 2024 • Durée 27:00
“If you're looking at the costs of medical expenses over time, they've actually historically grown faster than regular inflation. Healthcare is expensive, and it goes up faster than the rest of your spending; don’t overlook it.”
Listen in as our hosts, Stephanie McCullough of Sofia Financial, and Kevin Gaines of American Financial Management Group tackle the critical yet often underestimated topic of healthcare costs in retirement. They uncover the harsh reality that healthcare expenses can become a significant financial burden if not properly accounted for in your retirement plan. Shedding light on the unpredictable nature of health and the associated costs, they stress the importance of being prepared for more than just your mortgage or grocery bills. They also debunk the common misconceptions around Medicare and long-term care.
Stephanie and Kevin explore the complexities of managing retirement funds with future taxes in mind. They highlight the strategies to mitigate the tax hit when withdrawing from IRAs and 401(k)s, and how these can impact your Medicare premiums through the Income-Related Monthly Adjustment Amount (IRMAA). Learn about the benefits of Roth conversions and how Health Savings Accounts (HSAs) and Roth accounts can be powerful tools in reducing your tax burden. They also discuss the 'widow penalty' in tax brackets and the need for strategic planning, especially when it comes to Social Security and the real rate of medical expense inflation. This episode is packed with insights to help you secure your financial health.
Key Topics:
Healthcare Expenses in Retirement Planning (02:25)
Medical Expenses Planning for Retirement and Tax Implications (13:09)
Spouses of Different Ages Who Want to Retire Simultaneously (17:46)
Inherited IRAs, Tax Brackets, and the Widow Penalty (18:38)
Inflation Rates and Medical Expenses (21:56)
83: Combatting Fraud and Protecting Your Financial Future with AARP's Kathy Stokes
Épisode 83
mercredi 31 janvier 2024 • Durée 52:24
“If you know about a certain scam, you're 80% less likely to engage with it. So, please tell everybody you know.” -Kathy Stokes
Could your loved ones be vulnerable to a $9 billion wave of deception? Kathy Stokes from AARP joins our hosts Stephanie McCullough and Kevin Gaines to unravel the complexities of fraud that's sweeping the nation, hitting older adults the hardest. With victims often bearing the burden of shame, they’re challenging the stigma and equipping you with the knowledge to identify scams and shield your family.
Amidst the digital age, where swindlers lurk behind screens, this episode takes a hard look at the emotional web of online romance scams, originating from the most unexpected places like vacant Cambodian casinos. The conversation navigates through the tactics of cybercriminals as they exploit trust for financial gain.
Stephanie, Kevin, and Kathy outline the actionable steps every individual should consider, from skepticism towards unsolicited communication to the merits of credit freezes. AARP's robust network of fraud-fighting volunteers and their educational resources are just a call or click away, serving as your allies in the battle against fraudsters who target your wallet and well-being.
Key Topics:
Welcome Kathy Stokes! (03:08)
Financial Fraud’s Impact on Victims, Specifically Elders (04:57)
Phone Scams and How to Identify Them (11:43)
Protecting Seniors from Scams (17:30)
Law Enforcement Response to Financial Scams (22:11)
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
If you like what you’ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com
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