Take Back Retirement

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.

104: How to Invest When the World Feels Dangerous 12/20/2024

104: How to Invest When the World Feels Dangerous Volatility and recession and crashes! Oh, my! Today, our hosts Stephanie McCullough and Kevin Gaines give their best strategies for successful investing when the world’s feeling dangerous. They kick things off with some pointers on riding out market ups and downs. It all comes down to sticking to a long-term investment plan, no matter what’s happening around you. Remember the 2008 financial crisis? Stephanie and Kevin talk about how markets always bounce back and why it’s best not to fret over the dramatic headlines. They also discuss ways to manage your wealth during short-term crises. It’s important to keep a nice stash of cash for those “just in case” moments, such as being between jobs or moving to a new city. Knowing your expenses inside and out is a big confidence booster, making you feel more in control when life throws those curveballs. Stephanie and Kevin also detail the importance of having open money talks with your family. Talking through retirement savings and possible inheritances with your loved ones can keep future surprises at bay. Our hosts wrap up by breaking down the difference between market sentiments vis à vis economic realities, hammering home the all-important lesson that investing is a marathon, not a sprint! Key Topics: A Note on Scary Headlines (00:00) The Market as a “Discounting Mechanism” (07:11) Knowing When to Cash Out and When to Reenter the Market (14:28) “How Bad Do You Really Think It’s Going to Get?” (19:19) Preparing for Short-Term Emergencies (22:09) Having Money Conversations with Your Loved Ones (29:45) Resources: : What is Money Insurance? : Transform Your Relationship with Money: Lessons from Bari Tessler 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/34535595

103: Essential Internal Money Healing with Meghan Dwyer 11/30/2024

103: Essential Internal Money Healing with Meghan Dwyer Our hosts Stephanie McCullough and Kevin Gaines discuss the emotional side of money management with Meghan Dwyer, a Certified Financial Planner and the host of the "Money Isn't Scary" Podcast. Meghan's vision-mission is all about challenging societal norms and empowering women to take charge of their finances with confidence. She helps us uncover the hidden emotional influences that shape our financial decisions and shares her insights on moving from a mindset of fear to one of abundance. “How we earn our money is emotional,” says Meghan. “How we spend our money is emotional. How and why we save our money is emotional.” Our hosts and Meghan explore how our feelings around money are often inherited from past generations. Meghan emphasizes the importance of gaining clarity around, and processing, these emotional roots to make more informed money choices. She discusses the societal pressures of consumerism and the lack of financial education that can leave many feeling anxious or ashamed about their financial literacy. “Your relationship with money is parallel with your relationship with yourself.” Self-reflection helps us in aligning our financial decisions with personal values. Through practical exercises, Meghan teaches us how to identify our core values—whether it's family, adventure, or otherwise—and ensure our spending aligns with what truly matters to us. Meghan also stresses the importance of self-compassion, especially when our financial choices don't perfectly align with our values. She encourages us to embrace emotional triggers as tools for growth and to focus on what money can achieve in terms of our values, rather than just its numeric worth. Key Topics: What Stands in Our Way When It Comes to Financial Wellness? (3:36) “Money is Emotional!” (12:55) Minimizing Overwhelm When Beginning Your Money Healing Journey (19:28) The Importance of Knowing Your Values (24:55) Rewriting Our Money Stories and Beliefs (32:53) Avoiding the Comparison Trap (40:04) Stephanie and Kevin’s Key Takeaways (45:06) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/34278735

102: What Women Need to Know about Avoiding IRA Nightmare Stories with Denise Appleby 11/15/2024

102: What Women Need to Know about Avoiding IRA Nightmare Stories with Denise Appleby “Prevention is better than cure. Don't feel overwhelmed by all this. Would you remove your own kidney? You would go to a professional to get it done.” -Denise Appleby Renowned IRA and retirement plans expert Denise Appleby joins our hosts Stephanie McCullough and Kevin Gaines for a crucial conversation on managing your retirement accounts effectively, especially as 2024 comes to a close. Having trained thousands of financial, tax, and legal professionals, Denise shares her invaluable insights on year-end retirement planning strategies, covering the complexities of Required Minimum Distributions (RMDs) and the potential pitfalls of rollovers. They talk about the challenges family members face when inheriting IRAs and handling 401(k) withdrawals, including those aged 73 and older. In addition to RMDs, they also cover Roth conversions and Qualified Charitable Distributions (QCDs), giving you much-needed clarity on suitability assessments and precise reporting needs. Denise explains the differences between transfers and rollovers, providing real-life examples of costly mistakes and IRS penalties that typically come from common misunderstandings. By sharing these cautionary tales, Denise demonstrates the importance of consulting knowledgeable financial advisors to guide you through these often-daunting processes, ensuring your retirement plan remains on track! Key Topics: How to Manage Your Retirement Accounts Before the Year Ends (3:38) Navigating IRS Publications and Regulations (10:18) What’s Eligible for a Rollover? (22:38) Understanding Beneficiary IRAs and R&D (27:30) Direct Versus Indirect Roth Conversions (38:28) A Primer on Qualified Charitable Distributions (46:42) Stephanie and Kevin’s Key Takeaways (59:45) Resources: : What Women Need to Know About IRA’s, with Sarah Brenner : Women + Roth IRA’s – What Should You Be Aware Of? : Secure Act 2.0: New Retirement Account Rules, Same Old Message! : The Essential Rules to Know When You Inherit an IRA 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/34072236

101: What Women Need to Know (and Do) About Estate Planning with Your Friend the Lawyer, Pam Starsia 10/30/2024

101: What Women Need to Know (and Do) About Estate Planning with Your Friend the Lawyer, Pam Starsia Our hosts Stephanie McCullough and Kevin Gaines sit down with Pam Starsia, who swapped her corporate lawyer gig for the world of estate planning, and now runs a firm alongside her husband. Once a pro in high-stakes mergers and acquisitions, Pam’s now all about creating personalized, relationship-focused estate plans. Listen in as she takes us through the sometimes-tricky and always-emotional landscape of family legacy planning. “If you have the resources to pay for help, do so. You deserve it.” Pam unpacks the Personal Family Lawyer model she follows, which emphasizes the human side of legal advice to meet a family’s evolving needs. Her insights help us balance the emotional and practical sides of family legacy planning, offering a new take on the whole process beyond just writing a will. When dealing with clients, Pam’s all-in on personal touch. Our hosts and Pam chat about the emotional twists that can pop up, like sibling dynamics and particularly sentimental items. She dishes out practical tips for navigating these situations, reducing conflicts, and making sure everyone in the family gets a say. They also explore some unique aspects of estate planning, like the question of your furry friends, and Pam gives us the lowdown on setting up options like pet trusts to ensure they’re cared for in the future. She reminds us that estate planning isn’t just a one-time deal—it’s an ongoing process that adapts to changing laws, relationships, and life situations. Key Topics: From Corporate Lawyer to Estate Planning Attorney (3:31) The Advantages of the Personal Family Lawyer Model (9:45) Staying Accountable as an Estate Planning Attorney (15:46) Being Thorough with Clients (25:28) The Challenge of Working with the “Sandwich Generation” (31:37) Dealing with Joint Trustees (34:30) Pet Trusts: Making Sure Your Fur Babies Aren’t Forgotten! (39:46) Why It Literally Pays to Plan with an Attorney (47:44) Stephanie and Kevin’s Key Takeaways (50:10) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/33683742

100: What GenX Women Need to Know About Retirement 10/15/2024

100: What GenX Women Need to Know About Retirement “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 (5:14) Why GenXers are More Cautious with Money (10:11) The “Sandwich Generation” (12:41) “How Do We Deal With All This Crap?” (18:05) Accepting That You Can’t Control Everything (22:28) Financially Supporting Family (32:02) Key Takeaways (34:12) Resources: What Women Need to Know About Social Security Getting the Most from Social Security: Smart Strategies for Women with Heather Schreiber Simplifying Medicare: What’s Important For You To Know with Susan Sloan What Women Need to Know About Caregiving and Elder Law with Cathy Sikorski 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/33495832

99: The Challenges and Opportunities of Defining Your Identity in Retirement with Elizabeth Parsons 10/01/2024

99: The Challenges and Opportunities of Defining Your Identity in Retirement with Elizabeth Parsons “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 (3:47) Elizabeth’s Typical Client (09:16) Finding New Ways to Channel Your Professional Skills (19:03) Why it’s Important to “Grieve” The Loss Of Your Career (20:39) Existential versus Categorical Identity (28:00) Consider Navigating Retirement with a Buddy! (32:22) Metrics for Success (37:06) Key Takeaways (41:50) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/33282127

98: Conquering Internalized Ageism and Living Your Best Life after 65 with Ande Lyons 09/16/2024

98: Conquering Internalized Ageism and Living Your Best Life after 65 with Ande Lyons “Age is just another journey that we need to learn to love and embrace, and see as the gift it is!” Our hosts Stephanie McCullough and Kevin Gaines are joined by Ande Lyons, host of the Don't Be Caged by Your Age podcast. She’s redefining what it means to thrive after 65, and teaches us how to combat ageism at every level—whether it's institutional, societal, or internalized. Finding and maintaining confidence and a sense of purpose in retirement is seldom easy. Ande gives us tips to stay engaged in later life, as well as essential steps for financial and mental wellness, all in order to ensure a life in retirement that’s worth the journey. Our hosts and Ande also dive deep into the mindset shift that allows us to "age out loud.” Learn how platforms like Meetup.com can help build communities that bridge age gaps, and hear inspiring personal anecdotes about overcoming self-imposed limitations to pursue new passions after 65. As Ande says, by embracing and reframing how we see those golden years, we open ourselves up to the possibility of new beginnings, renewed health and vigor, and exciting adventures that we never would have dreamed of pursuing in pre-retirement! Key Topics: Internalized Ageism… What the Heck Does that Mean? (3:30) Overcoming Internalized Ageism (11:08) Managing your Energy Portfolio and “Aging Out Loud” (21:55) Finding Interest Groups with Meetup.com (27:37) “Ambition is Ageless!” (34:12) Key Takeaways (42:40) Resources: : Combatting Fraud and Protecting Your Financial Future with AARP’s Kathy Stokes 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/33025287

97: Why Do We Avoid Retirement Planning? 08/30/2024

97: Why Do We Avoid Retirement Planning? “Most pre-retirees and retirees need and want help with the critical retirement decisions they face, but they’re not always certain where to find it.” Is your retirement plan only scratching the surface? Our hosts Stephanie McCullough and Kevin Gaines uncover the common pitfalls that have kept retirees unprepared for the realities of their post-work years. Drawing from the groundbreaking Stanford Center on Longevity study entitled Disconnected: Reality Versus Perception in Retirement Planning, Stephanie and Kevin talk about why it’s imperative to envision and plan for all aspects of retirement—beyond just your finances. Learn how to overcome the natural human instincts that cause us to overlook important retirement considerations, and how to find advice specific to your unique life circumstances. Our hosts also explain why retirement is a process rather than a destination, and how embracing flexibility can reduce financial stress and increase peace of mind. They explore how personal stories and periodic reminders can keep you on track, and why working with a real financial planner can provide invaluable holistic guidance. Key Topics: Envisioning Your Later Years (4:56) “Human Beings Are Bad at Money.” (11:02) Overcoming Our Self-Imposed Planning Barriers (12:57) Just Yank the Bandaid Off! (15:20) Implementation Costs (19:30) Finding Advice Specific to You and Minimizing Uncertainty About Your Future (21:30) Which Of These Sentences Makes You Most Inspired to do Retirement Planning? (24:25) Financial Advisor vs “Stock Jockey” (28:45) Planning for Contingencies (30:02) Resources: : Here’s a Secret: We’re Guessing, and That’s OK : Ready to Retire? Here are Five Crucial Questions to Ask Yourself 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/32811057

96: Surviving Financial Infidelity with Jess Bost 08/15/2024

96: Surviving Financial Infidelity with Jess Bost "Financial infidelity is in the category of infidelity and the root of it is a hiding and a lying about the truth." Join our hosts Stephanie McCullough and Kevin Gaines as they chat with Jess Bost, CFP at Lake Avenue Financial. She’s spent over 15 years coaching people to get from where they are to where they want to be. It’s a passion that finds its roots in her inspiring journey to overcome her own financial struggles. For Jess, those struggles revolved around one of the toughest periods in her life: dealing with financial infidelity. Listen in as she opens up about the moment she discovered that her partner had been living a financial double-life–hiding mounting credit card debts, separate bank accounts, and loans that eventually led to their separation. Jess reflects on how the shock of that revelation compelled her to take ownership of her finances, leading her down a path into the world of financial services and, thankfully, eventual reconciliation with her partner. Through Jess’s experiences, you’ll learn why it’s so important to get clear about your strengths and weaknesses around financial management, as well as, if applicable, those of your partner. Jess is a staunch advocate for no-nonsense, transparent dialogue between spouses, especially early on in the relationship. By getting clear about each other’s money management roles in marriage, you’ll be able to nip financial infidelity in the bud! Key Topics: Jess’s Journey to Financial Services (3:56) Dealing with Her Partner’s Financial Infidelity (12:36) What Makes a Great Financial Advisor? (19:01) Defining Financial Infidelity (24:17) Figuring Out Your Own and Your Partner’s Ability to Manage Finances (35:20) Changing Mindsets and Beliefs Around Money through Financial Therapy (41:04) How to Deal with Financial Infidelity (44:07) Stephanie’s and Kevin’s Wrap-Up (49:26) Resources: : Transform Your Relationship with Money: Lessons from Bari Tessler 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/32617302

95: Ready to Retire? Here are Five Crucial Questions to Ask Yourself 07/31/2024

95: Ready to Retire? Here are Five Crucial Questions to Ask Yourself “We believe that a simpler financial life, a less fraught financial life is one where you align your dollars with what's most important to you, with the life you want to lead, with your values.” - Stephanie Have you ever found yourself asking if the perfect moment to retire will ever come? Or whether you’ll even have enough to live on when that moment arrives? These are tough questions that countless people grapple with. Our hosts Stephanie McCullough and Kevin Gaines talk ‘purposeful retirement’ and how you can set goals and navigate your post-work life with flexibility and a foolproof strategy! They introduce five essential questions to help align your financial resources with your desired retirement lifestyle. By understanding why you are retiring, what you want to do, who you are retiring for, where you want to spend your later years, and how things can change going forward, you forge a path that is both fulfilling and financially stable! Stephanie and Kevin show how meaningful planning can prevent the pitfalls of an aimless life in retirement. They introduce the concept of "time bucketing," which helps in making the most of your newly available hours. You’ll also learn how to navigate common obstacles around our limited medical infrastructure and how to find the perfect retirement community. Find out how to pivot with grace and realign your priorities when you’re (inevitably) faced with changes along your retirement journey! Key Topics: Why are you retiring? (4:47) What do you want to do? (11:10) Who are you doing this for? (13:45) Where do you want to do this? (19:07) How can things change? (24:09) Overcoming reluctance to spend your savings (31:18) Resources: : Taking Charge: Carol Marak's Strategy for Solo Aging and Retirement Planning 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/32368277

94: Practicing for Retirement: Balancing Creative Pursuits and Financial Planning with Mary Jo Hoffman 07/15/2024

94: Practicing for Retirement: Balancing Creative Pursuits and Financial Planning with Mary Jo Hoffman “Think about practicing for retirement long before you get there.” -Mary Jo Hoffman Our hosts Stephanie McCullough and Kevin Gaines sit down with aeronautical engineer-turned-artist Mary Jo Hoffman. Renowned for her captivating photography project, Still, Mary Jo shares her extraordinary journey from a 17-year career as a scientist into becoming a renowned essayist and found nature photographer! Discover the pivotal moment when Mary Jo and her husband decided to switch roles in their professional lives, allowing her to fully embrace her creative passions. She talks about her spur-of-the-moment family move to France, which offered a cultural immersion for their children and a glimpse into what retirement could look like for her. Balancing family life with a burgeoning creative career is no small feat. Mary Jo explains how she was able to integrate her newfound passion into her daily routine, and her secrets to staying productive as a creative while also being a stay-at-home parent. They also delve into the practicalities of sustaining a creative career without compromising financial stability. Learn how living below your means can create the space needed for artistic endeavors. Stephanie, Kevin, and Mary Jo touch on the importance of exploring various interests in preparation for retirement. According to Mary Jo, adaptability and thoughtful planning are non-negotiables on the road to a rewarding post-career life! Key Topics: Practicing Retirement (0:03:38) Diving Headfirst into the Arts in Retirement (0:14:56) Being a Creative and Raising Kids (0:19:25) “Start Now and Start Soon!” (0:25:27) Monetizing Her Art and Writing Her First Book (0:31:24) “Taking a Picture a Day” (0:44:28) Why Mary Jo Had to Retire Before Becoming a Found Nature Photographer (0:48:27) What Most Retirees Love to Do (0:53:29) Our Closing Thoughts (0:56:58) Resources: : Cultivating Creative Connections for Lifelong Wellness with Claire Waite Brown : She Did It! Real Retirement Stories with Lori Osterberg 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/32190062

93: She Did It! Real Retirement Stories with Sharon Johnson 07/01/2024

93: She Did It! Real Retirement Stories with Sharon Johnson “It wasn't nearly as traumatic for me as I was expecting it to be. I was a little concerned about how I would transition from having to get up and having that routine to creating a new one.” - Sharon Welcome to another edition of Real Retirement Stories - a series of Take Back Retirement. Our hosts Stephanie McCullough and Kevin Gaines chat with Sharon Johnson. After an illustrious 22-year career as an executive assistant at ABC Television, Sharon didn't slow down—instead, she switched gears and found a new calling co-hosting the 80s TV Ladies Podcast. Join in to hear her incredible journey from the bustling world of television execs to the equally dynamic realm of podcasting, where she revisits iconic 80s TV shows with a modern feminist perspective. Sharon’s story is a testament to the transformative power of embracing change and finding joy in unexpected places. Sharon originally envisioned her retirement as a time for travel and catching up on missed TV series, but life had other plans. Through her podcast, she rekindled her love for classic 80s shows like "A Different World," gaining fresh insights into the progressive roles women played both in front and behind the camera. Sharon also shares her serendipitous entry into the television industry in the mid-90s, working for an independent production company, and how those experiences shaped her understanding of TV production and storytelling. Whether you’re intrigued by the behind-the-scenes workings of TV production or the fresh perspectives that come with retirement, Sharon’s story is a celebration of staying active, engaged, and ever-curious. Don’t miss this inspiring episode filled with nostalgia, wisdom, and the boundless opportunities that come with retirement. Key Topics: Sharon’s Original Plan for Retirement (04:07) 80s TV Shows and their Portrayal of Women (06:29) TV Industry Changes and Experiences of Women Behind the Camera (11:35) Retirement Concerns and Health Insurance Planning (17:27) Retirement and Transition from Office to Remote Work During COVID-19 (22:01) Analyzing Programs such as Grey’s Anatomy and Remington Steele (25:56) Retirement Planning, Identity, and Transition (37:37) Stephanie and Kevin’s Wrap-Up (43:13) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/31951767

92: What Women Need to Know about Inflation: What It Is, and Why You Should Care -- But Not Panic! 06/19/2024

92: What Women Need to Know about Inflation: What It Is, and Why You Should Care -- But Not Panic! “Each dollar today buys less than the same dollar did 10 years ago. Which is why a lot of financial advisors are so focused on helping clients grow their money over time. It's not to become wealthy and die with the most money, it's because the cost of living goes up over time.” - Stephanie Our hosts Stephanie McCullough and Kevin Gaines demystify the often-frustrating world of inflation and its daily impact on our wallets. They dive into how rising prices sneakily erode your purchasing power and why this is a crucial consideration for your financial plans, especially when eyeing retirement. Stephanie and Kevin shed light on how personal spending patterns can differ from the inflation rates reported in the news, making it essential to tailor your investment strategies to your unique lifestyle. They also explore the intricate dance between inflation and interest rates, breaking down how the Federal Reserve's moves can affect everything from your savings account to your mortgage rates. As they transition to retirement planning, Stephanie and Kevin bust the myth that retirees should play it ultra-safe with their investments. Learn why incorporating growth assets like stocks is critical to outpacing inflation and ensuring long-term financial security. Plus, discover the benefits of flexible spending and part-time income to make your retirement savings last longer. Don’t miss this insightful episode packed with practical advice for safeguarding your financial future. Key Topics: Inflation, its Definition, and its Impact on Personal Finance (02:19) How Inflation is Measured and its Impact on the Economy (03:45) How Inflation Impacts Retirement Planning + Mapping Financial Projections (11:34) Inflation, Retirement Savings, and Investments (22:33) Retirement Planning and Accounting for Inflation (29:59) Resources: What Women Need to Know About Social Security Getting the Most from Social Security: Smart Strategies for Women with Heather Schreiber What Women Need to Know About Annuities Here’s a Secret: We’re Guessing, and That’s OK 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/31794747

91: Securing Your Retirement: Key Insights and Strategies 05/30/2024

91: Securing Your Retirement: Key Insights and Strategies “If the average life expectancy for a woman is around 86, 87, fully 50% of women live longer than that. So, you can't plan just to age 87.” Can a simple quiz change the way you think about retirement? Our hosts Stephanie McCullough and Kevin Gaines uncover the hidden gems (and not-so-shiny stones) within retirement planning quizzes and surveys, especially a revealing retirement income literacy quiz from the American College of Financial Services. Our hosts dismantle common myths, like the idea that Medicaid will seamlessly cover long-term care costs, and arm you with the knowledge to navigate these complex waters. Have you ever considered how rising long-term care costs and inflation might impact your golden years? This discussion, inspired by findings from the National Institute for Retirement Security, paints a vivid picture of these pressing issues. From Medicare and Social Security to life insurance, 401k plans, and annuities, Stephanie and Kevin dissect the tools at your disposal. By highlighting the importance of basic investing principles and the balance of risks, they aim to help you safeguard your savings against inflation and elongate your nest egg for a potentially longer retirement. In a climate where up to 80% of women sense a looming retirement crisis, how can you alleviate your retirement anxiety? Our hosts explore the shift from employer-provided pension plans to self-funded retirements, and why Social Security remains a lifeline for many. Rising living, healthcare, and long-term care costs are at the forefront of concerns, making financial planning more crucial than ever. Key Topics: Why Did Stephanie and Kevin Take a Retirement Income “Literacy” Quiz? (02:11) Long-term Care, Medicare vs Medicaid, and More (04:10) What Women Think about Retirement (07:49) Life Expectancy Beyond 65 and its Impact on Retirement Finances (14:37) Looking Beyond Investments in Retirement Planning (19:08) Women's Outlook on Retirement (Crisis) (21:40) Longevity “Literacy” (27:32) Wrap-Up (32:26) Resources: Take Back Retirement Episodes: 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. [email protected] Find the transcript and more information about this episode at . Follow Stephanie: , , and . Follow Kevin: , , and . /episode/index/show/takebackretirement/id/31534132

90: Guiding Women to a Richer, More Fulfilling Retirement with Dan Haylett 05/16/2024

89: Navigating the Emotional and Practical Realms of Eldercare Management with Nancy May 05/01/2024

89: Navigating the Emotional and Practical Realms of Eldercare Management with Nancy May "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) Stephanie and Kevin’s Wrap-up and Takeaways (49:42) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/31077688

88: Radical Self-Acceptance: A Path to Financial Wellness for Women with ADHD with Diann Wingert 04/15/2024

88: Radical Self-Acceptance: A Path to Financial Wellness for Women with ADHD with Diann Wingert “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) The Challenges of Working from Home for Women with ADHD (18:43) ADHD, Impulsive Spending, and Other Financial Hurdles (22:45) Personal Finance, ADHD, and Mindfulness (27:11) Avoidance, Lack of Planning, and Other Financial Challenges (33:52) Overcoming Negative Self-Talk and Self-Doubt Through Mindfulness and Affirmations (39:01) Stephanie and Kevin’s Wrap-Up (52:46) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/30850928

87: Cultivating Creative Connections for Lifelong Wellness with Claire Waite Brown 03/31/2024

87: Cultivating Creative Connections for Lifelong Wellness with Claire Waite Brown “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) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/30608878

86: The Success Number: Calculating What You Really Need to Earn with Ella Glasgow 03/15/2024

86: The Success Number: Calculating What You Really Need to Earn with Ella Glasgow “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) Pricing Your Worth and Confidence in Business (27:48) Using AI Tools for Market Research and Understanding Audience Needs (38:25) Retirement Planning and Financial Goals (43:36) Stephanie and Kevin’s Takeaways (44:30) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/30384183

85: Mastering Tax Season: Strategies for Preparation, Document Gathering, and Future Planning 02/29/2024

85: Mastering Tax Season: Strategies for Preparation, Document Gathering, and Future Planning “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) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/30170033

84: The Retirement Expense You Can't Afford to Ignore: Planning for Healthcare Costs 02/15/2024

84: The Retirement Expense You Can't Afford to Ignore: Planning for Healthcare Costs “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) Medicare Costs and Supplemental Insurance (04:36) Income-Related Monthly Adjustment Amount (IRMAA) (06:58) 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) Wrap-Up (24:18) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/29972863

83: Combatting Fraud and Protecting Your Financial Future with AARP's Kathy Stokes 01/31/2024

83: Combatting Fraud and Protecting Your Financial Future with AARP's Kathy Stokes “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! (01:47) Financial Fraud’s Impact on Victims, Specifically Elders (02:33) Phone Scams and How to Identify Them (11:25) Protecting Seniors from Scams (18:11) Law Enforcement Response to Financial Scams (22:33) Online Safety and Cybersecurity (33:36) AARP, Getting Direct Support (42:44) Stephanie’s and Kevin’s Takeaways (47:12) Resources: Victim Helpline 877-908-3360 CryptoScam from Wall Street Journal (free podcast): NPR story on crypto scam 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/29728668

82: Getting the Most from Social Security: Smart Strategies for Women with Heather Schreiber 01/15/2024

82: Getting the Most from Social Security: Smart Strategies for Women with Heather Schreiber “People tend to underestimate both how long they'll live and how long they'll spend in retirement. That's something that we really need to be realistic about.” - Heather Schreiber Have you ever wondered how the labyrinth of Social Security intricacies might be uniquely affecting your retirement plan? Our hosts Stephanie McCullough and Kevin Gaines sit down with Heather Schreiber, a Social Security sage, to dissect the complex world of retirement planning for women. In this episode, the spotlight is on the hidden challenges women face due to career pauses, and how these disruptions can significantly alter the course of their Social Security benefits. They’re not just discussing the issues but also providing the guidance needed to traverse these rocky terrains with confidence. Navigating the bends and turns of the Social Security benefits calculation can feel like a daunting task. However, armed with knowledge such as how the Primary Insurance Amount (PIA) works, and understanding the bend point formula, women can better position themselves for retirement. Heather explains how the PIA is influenced by a full 35-year earnings record and how earnings-related reductions can be avoided. Whether you're considering working past retirement age or have already begun receiving benefits, this conversation is packed with insights on how to bolster your retirement income. But wait, there’s more! Our hosts along with Heather go beyond the basics and enter the realm of survivor and spousal benefits, an area where strategic planning can make a substantial difference. They unravel how the decisions of the higher-earning spouse can have far-reaching effects on survivors and discuss the nuances between survivor and spousal benefits. All of this critical information and more in this episode of Take Back Retirement, brought to you by Sofia Financial and American Financial Management Group. Key Topics: Kevin’s Dream Has Come True…Welcome, Dream Guest Heather Schreiber - Social Security Expert (01:06) Heather’s Passion for Consumer Advocacy and Reliable Guidance (03:37) Women’s Retirement Challenges and Planning Strategies (05:43) Social Security Benefits and Earning Limits for Widows/Widowers (09:47) Social Security Claiming Strategies (18:43) Social Security Spousal Benefits and Filing Strategies (24:00) Social Security Divorce Rules (26:55) Social Security Cost of Living Adjustments (33:19) Retirement Planning and Taxes (35:00) Social Security Claiming Strategies for Singles (40:40) Stephanie and Kevin’s Wrap-Up (47:58) Resources: HLS Retire on , , and 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/29488003

81: Answers to Our Most Common Questions 01/01/2024

81: Answers to Our Most Common Questions Ever feel like you're wading through murky waters when it comes to retirement planning? You're not alone. Stephanie McCullough and Kevin Gaines of Sofia Financial and American Financial Management Group illuminate the path with their expertise, debunking pervasive myths that cloud the judgment of many investors. They kick things off by setting the record straight on investment growth, cutting through the confusion surrounding account consolidation, and revealing the true engine of growth—percentage rates. Diversification is another victim of misunderstanding, and they’re untangling the real meaning from the common misperception that more accounts always equals better diversity. As the discussion wades deeper, Stephanie and Kevin tackle the intricacies of IRAs with precision. Did you know that your 401(k) doesn't barricade the door to IRA contributions? Our hosts share why tax deduction eligibility is a whole different ball game. Plus, they don't shy away from the tough stuff—like financial emergencies—guiding you through the maze of withdrawal rules to keep penalties at bay. The conversation then turns to market volatility and holding steady to your investment strategy. So buckle up and tune in; this episode is your financial GPS, navigating you away from common pitfalls and towards a more secure retirement. Key Topics: Growth Rate of Money in One Account vs Multiple Accounts (01:23) Investment Accounts and Diversification (03:14) IRAs, Contributions, and Emergency Funds (07:47) IRA and 401(k) Clarification (12:25) Financial Options for Emergencies (13:04) Borrowing and Credit (17:47) Changing Investment Strategy Because of World Events and Headlines (21:05) Investment Strategies for Various Life Stages (24:19) Retirement Planning with Nuanced Investment Strategies (29:59) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/29292298

80: Reinventing Money Talks: Emotion, Accountability, and Retirement Planning with Erika Wasserman 12/15/2023

80: Reinventing Money Talks: Emotion, Accountability, and Retirement Planning with Erika Wasserman “You'll start seeing some things that are really helping you in life and some that are hurting you. And when you don't have an outlet or a way to review these things, we stay to our consistent habits just like with our diet.” Dive into the world of financial therapy with our guest, Erika Wasserman. Fully 81% of Americans were taught not to talk about money, and that has a profound impact on emotional well-being and relationships. Join us as Erika shares both her personal journey and practical advice on navigating the complexities of financial silence, and find out how she empowers individuals to break free from its shackles. Are you ready to explore the key to trust, harmony, and financial well-being? When it comes to managing finances, an accountability partner can be a game-changer. Erika helps us understand the traits that make a perfect accountability partner. This person needs to be invested in your successes, hold you accountable when you trip up, and be your partner in devising innovative solutions. Retirement planning can be an emotional journey - one in which money, feelings, and values are intricately linked. Erika leads us through a visualization exercise, and encourages that instead of struggling with a rigid budget, we instead think about a 'Yes Plan' - a prioritization of expenses that vibe with our own values. Let this episode inspire you to curate a clear vision for your retirement, setting you up for a fulfilling future. Tune in now for a transformative financial journey. Key Topics: Intro to Erika Wasserman (01:07) “Wait, there’s a field called Financial Therapy?!” (02:35) Three Ways We Get Our Money Beliefs (06:34) Finding an Accountability Partner for Financial Success (07:24) Financial Infidelity and Accountability in Relationships (12:26) “Let’s Talk About Finances, Baby!” Card Deck (17:25) Retirement Planning and Prioritizing Spending Obligations (20:39) Retirement Planning Sensory Exercises (24:52) Financial Habits and Therapy (30:43) The Money Egg (31:55) Stephanie and Kevin’s Wrap-Up (35:48) Resources: Email and mention TAKE BACK RETIREMENT for $50 off the Money Egg Exercise mentioned at 31:45 of episode Erika on , , @yourfinancialtherapist 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/29086058

79: Small Steps, Big Impact: How Prioritizing Self-Care Transforms Your Finances with Emi Kirschner 11/30/2023

79: Small Steps, Big Impact: How Prioritizing Self-Care Transforms Your Finances with Emi Kirschner "You have a choice about everything, and not choosing is still a choice. Prioritize yourself and ask for what you need." - Emi Kirschner What if you were told that self-care isn't just an indulgence, but a key player in achieving personal and professional success? Our hosts Stephanie McCullough and Kevin Gaines chat with Emi Kirschner, a seasoned investor, serial entrepreneur, and coach to women business owners. They pull back the curtain on the issue of avoidance, especially when it comes to financial planning and essential self-care, and share insights about why we often avoid these important tasks and how changing our mindset can lead to a transformation in our personal and business finances. Emi shares some pearls of wisdom about the power of self-care and its direct impact on productivity and clarity. Stephanie, Kevin, and Emi then tackle one of the most challenging topics - the taboo around financial conversations. They share personal experiences and insights on breaking societal norms and approaching these conversations with curiosity rather than apprehension. Tune in for an episode that challenges norms, encourages curiosity and most of all, prioritizes self-care! Key Topics: Intro to Self-Care and Finances (02:42) Breaking Down Financial Tasks into Manageable Steps (05:10) Overcoming Overwork and Finding Balance (09:56) Work-Life Balance and Productivity (15:01) Prioritizing Self-Care and Inner Knowledge for Success (19:19) Financial Planning, Avoiding Procrastination, and Breaking Taboos (24:16) Overcoming Limiting Beliefs and Taking Control of Finances (30:09) Self-Care, Mindfulness, and Financial Wellness (36:05) Wrap-Up (36:43) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/28864858

78: The Essential Rules to Know When You Inherit an IRA 11/15/2023

78: The Essential Rules to Know When You Inherit an IRA “The account you inherit as far as the IRS is concerned, it's not your retirement account. You are just receiving the money from it. It's still the original owner's retirement account.” Have you ever considered the complexities that come with inheriting retirement accounts? They can be a minefield of rules and regulations that, if not handled with care, can result in irreversible mistakes. Our hosts Stephanie McCullough and Kevin Gaines untangle these complex rules, shedding light on the importance of paying attention when dealing with inherited accounts. Because once that money is taken out, it doesn't go back in. They also look at how the rules change when the original contributor has started their required distributions. Did you know that spouses have a unique privilege when inheriting retirement accounts? They can transfer the accounts into their own and take full ownership. But like everything else in life, there are rules to follow. And then comes the all-important matter of tax considerations. From the repercussions of not emptying the account within ten years to the importance of naming your own beneficiaries, and the complications that arise when inheriting an inherited IRA - Stephanie and Kevin cover it all. That said, it’s important to remember that each situation is unique and requires specific guidance. Under the SECURE Act, there are now 3 kinds of retirement plan beneficiaries for determining post-death payouts after 2019: 1. Non-Designated Beneficiary (NDB) These are not people. Examples: Estate, charity or non-qualifying trust (non-look through trust) 2. Non-Eligible Designated Beneficiary (NEDB) All designated beneficiaries who do not qualify as EDBs (see #3 below). Examples: grandchildren, older children, some look-through trusts 3. Eligible Designated Beneficiary (EDB) The SECURE Act exempts these beneficiaries from the 10-year rule. However, if the account owner dies before the RBD, an EDB can elect the 10-year rule. EDBs must be designated beneficiaries. 5 Classes of Eligible Designated Beneficiaries: Surviving spouses Minor children of the account owner, until age 21 - but not grandchildren Disabled individuals – under the strict IRS rules Chronically ill individuals Individuals not more than 10 years younger than the IRA owner. (Those older than the IRA owner also qualify.) Key Topics: Inheriting an IRA or Another Type of Retirement Account (02:00) Unique Rules of Inherited Accounts (05:31) Inherited IRA Rules and Options for Spouses and Non-Spouses (10:26) IRA Inheritance Rules and RMDs (15:49) The 10-Year Rule (20:52) Inherited Retirement Accounts and Potential Pitfalls (30:34) Wrap-Up (31:00) Resources: Take Back Retirements Episodes: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/28648653

77: How to Decide Whether to Go Back to Work After Divorce 10/31/2023

77: How to Decide Whether to Go Back to Work After Divorce “The thing you’ve got to start with is what does life cost you? What does it cost to be you in this world?” Listen in as our hosts Stephanie McCullough and Kevin Gaines tackle some big questions in this episode of Take Back Retirement, like "Do I need to go back to work after retirement or a divorce?" and "What kind of financial considerations should I have?" They walk through how to evaluate your life costs, not just the regular monthly expenses, but those that come up less frequently, like holidays, vacations, and any extra costs that come with having children or pets. They also discuss how to handle assets after a divorce, the different types of assets, tax implications, and the importance of planning for the future. Stephanie and Kevin examine figuring out how much you can safely withdraw from your investments or savings if you need to supplement your income. They shed light on the 4% rule, which suggests that you should not withdraw more than 4% of the balance of your account each year. Plus, they discuss possible ways to reduce expenses and the importance of having a plan ahead of time. This episode is packed with valuable insights and practical advice, don't miss out! Key Topics: Intro: How to Decide Whether to Go Back to Work After Divorce (02:10) It’s Not Solely a Financial Question (03:32) How Much Does Life Cost You? Looking at Spending (06:56) Looking at the Income Side of the Equation (11:42) Retirement Savings and Investment Spending Strategies (17:01) Making That Money…Pulling in Some Income (24:35) Wrap-Up (31:24) Resources: Organizations that support women returning to the workforce: Related Take Back Retirement Episodes: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/28467803

76: What Women Need to Know About Financial Recordkeeping: Lessons from Client Stories 10/16/2023

76: What Women Need to Know About Financial Recordkeeping: Lessons from Client Stories “In the world of the IRS, if it's not documented, it's not real.” Get set for a value-packed journey as our hosts Stephanie McCullough and Kevin Gaines tackle the critical topic of keeping financial records in this latest episode of Take Back Retirement. But they don’t go it alone. They invite two clients - Steve and Doug - and two experts – Enrolled Agent Marianne Borneman and CPA Sonya Pappas - to give a well-rounded perspective on just how important record keeping really is. First, discover how proper documentation can serve as a shield in financial disputes as Stephanie and Kevin introduce two of their clients - Steve and Doug. They share their personal experiences dealing with pension plans, tax determinations, and the powerful role of keeping precise records in securing their interests. Next, learn from Marianne about the possible hazards of not having accurate documentation when dealing with the IRS and how it may prompt the tax collectors to dig even deeper. Sonya shares valuable tips on maintaining record security and the necessity for a systematic approach to saving and purging documents. Tune in, learn, and protect your financial future by mastering the art of vigilant record-keeping! Key Topics: Introducing the Importance of Record Keeping (00:54) Exploring Record Keeping with Client Steve (02:41) Exploring Record Keeping with Client Doug (12:55) Exploring Record Keeping with Expert Marianne Borneman (20:28) Exploring Record Keeping with Expert Sonya Pappas (33:27) Stephanie and Kevin’s Wrap-Up (45:45) Resources: - 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/28327583

75: The Gift of Organizing and Decluttering your Documents and Photos, with Angie Hyche 09/30/2023

75: The Gift of Organizing and Decluttering your Documents and Photos, with Angie Hyche “This could be the most loving gift you could ever give your children. The most loving way of spending your time to give them this gift, it's priceless. Preparation leads to peace. It absolutely does.” Imagine a world where your family isn't left with a mountain of your disorganized documents and possessions after your death. Our hosts Stephanie McCullough and Kevin Gaines chat with Angie Hyche, a professional organizer, author, speaker, and podcaster, who brings us unique insights into the freedom that order can bring. Turning the spotlight on planning for aging parents and our own aging future, this episode delves into the importance of not just passing on material items, but the values we want to instill in our children. Angie shares her experience of helping her parents and in-laws navigate the process of organizing their belongings, emphasizing the vital necessity of these conversations around end-of-life planning. Stephanie, Kevin and Angie round off by tackling the challenge of organizing both physical and digital documents. From the ABC sorting process for photos to the importance of having a system to track important documents, they explore it all. Angie shares her tips on how to make sure digital assets are accessible to loved ones and how to approach the process of ‘death cleaning.’ This episode is perfect for anyone seeking to create order, prepare for the future, and leave a meaningful legacy for loved ones. Key Topics: Introduction to Angie Hyche (01:08) How Angie Arrived to be a Professional Organizer of Documents (02:10) Organizing Personal Affairs and Prioritizing What Matters Most (05:02) Helping Elderly Parents with Organizing (09:46) Organizing and Preserving Family Photos (15:25) Organizing Paper Documents and Deciding what to Keep (20:08) Organizing Digital Assets and Passwords for Easy Access After Death (25:51) Planning for End-of-Life Tasks and Possessions (32:04) Clutter’s Impact on Mental and Physical Wellbeing (37:35) Stephanie and Kevin’s Wrap-Up (42:27) Resources: 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. [email protected] You can find the transcript and more information about this episode at . Follow Stephanie on , , and . Follow Kevin on , , and . /episode/index/show/takebackretirement/id/28185428

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