This is the retirement podcast for successful women professionals in their 40s, 50s, and 60s who are high-income earners with retirement as their primary goal. There is a new retirement reality for women. We are living longer, healthier, and more actives lifestyles. Your retirement years could involve a mix of recreation, relaxation, reeducation, and even total reinvention. I’m your host, Stephanie Sammons. As an experienced Certified Financial Planner™ and Investment Advisor, I’ve been guiding savvy women professionals to and through retirement for more than 20 years. On this show you will gain valuable money tips on planning for your retirement, minimizing your taxes, and investing wisely. I also share insights and speak with special guests on personal growth, work-life, and well-being. My mission is simple; I want to teach you how to retire smart, secure, and happy while living your best midlife today! Learn more at https://retirementmoneygal.com.
Year-end Tax Planning for Women Professionals (2020 Edition)
Show Notes for this Episode:
2020 is one of those years where we could be on the verge of major tax changes next year and in future years. Unfortunately, we won’t know more about this until 2021. I don’t like to speculate or make bets on what could happen. It’s best to go with what we know to be true for the 2020 tax year.
With a Biden administration and a Democratic Congress, we could see the Biden Tax Plan having a much better chance of getting implemented. Again, we won’t know this until next year!
The end of the year is a really good time to do tax planning. There are a handful of tax planning strategies that might make sense for you to take advantage of based on your situation. However, I also recommend that you do tax planning throughout the year. There are always potential opportunities to reduce your taxes if you stay ahead of this each year.
Although CPA’s are great for doing tax returns, many of them do not have the time to help you plan ahead on your taxes strategically. This is where a Certified Financial Planner™ can really be valuable. An experienced CFP® can help you with tax planning strategies throughout the tax year.
What you will learn in this episode:
How to better understand the tax bracket system and where you fall (see 2020 tax brackets below) Tips for adjusting your withholding for 2020 Opportunities to consider if you’re income was lower this year and/or you lost your job due to the pandemic An easy way to lower your tax bill whether you itemize or take the standard deduction Additional retirement savings opportunities to take advantage of before year-end Listen and subscribe to the podcast in your favorite podcasting app: Apple Podcasts | Spotify | Google Podcasts
Q&A: How to Invest a Lump Sum
In this episode, Stephanie tackles a listener question; how to invest a lump sum of money. Should you invest all at once even with markets at an all time high? Or are you better off investing in installments over a period of time? Find out as Stephanie shares her thoughts on this important and timely question.
Listen and subscribe to the podcast in your favorite podcasting app: Apple Podcasts | Spotify | Google Podcasts
Are you a woman professional in your 40s, 50s, or 60s? Join the virtual Women Retire Smart Community and learn more about how you can retire smart, secure, and happy!
The Ins and Outs of Medicare (and Costly Mistakes to Avoid)
Show Notes for this Episode:
In this episode, I interview Danielle Roberts. Danielle is a Medicare expert and bestselling author of the book, 10 Costly Medicare Mistakes You Can't Afford to Make.
Danielle is a wealth of knowledge when it comes to Medicare. Medicare is one of the most important benefits we are eligible for in retirement. It covers our primary healthcare from age 65 and beyond. However, Medicare is very complex. There are many ins and outs to understand when it is your time to either sign-up for or change your Medicare benefits plan.
In this episode, you will learn:
when to sign-up for Medicare (and why you can't miss this deadline) how to enroll in Medicare decoding the Medicare alphabet soup what are the costs of Medicare insurance (no, it's not free) do you need a Medicare supplement plan? the difference between a Medicare Supplement (Medigap) and Medicare Advantage plan the most comprehensive Medicare Supplement plan today what you need to know about Medicare open enrollment how earned income at age 65+ can impact your Medicare premiums potential changes to Medicare in the future
More information about Danielle:
Danielle's #1 bestselling book 10 Costly Medicare Mistakes Danielle is co-founder of Medicare brokerage agency Boomer Benefits The Boomer Benefits Facebook Group (where you can ask your questions!) Find and connect with Danielle on Facebook, LinkedIn, and Twitter Want to join a community of like-minded women in midlife who are taking charge of their wealth? Learn more about the Women Retire Smart™ Community!
A Change Would Do You Good
In this episode, I share my thoughts on the recent presidential election and the current state of affairs with Covid, the economy, the markets, and the road ahead. Show notes at https://retirementmoneygal.com/69
Amy Morin on Mental Strength, Aging, and Reinvention in Midlife
Amy Morin is a psychotherapist and international bestselling author of the books "13 Things Mentally Strong People Don't Do" and "13 Things Mentally Strong Women Don't Do". In this episode, Amy shares her insights on improving your mental strength, aging, and reinvention in midlife. Show notes at https://retirementmoneygal.com/68
The Dangers of Shiny Object Investments
I've been seeing and hearing way too many "get rich quick" investment opportunities on television, radio, and the internet. This happens in times of financial hardship or, a public health crisis! In this episode, I provide some tips on you what to look out for to protect yourself. Show notes at https://retirementmoneygal.com/67
I met Stephanie several years ago and just recently stumbled upon this podcast. It’s excellent, really one of the best podcasts for midlife people. She has an easy way of explaining things with confidence. Give it a listen, you won’t be disappointed.
Stephanie has a great way of communicating complicated topics so that everyone can understand. She truly wants women in midlife to embrace their next chapter.
Loving the podcast!
Such a needed podcast!