Do you struggle with what it means to be successful in your retirement? Trust us, you're not alone. Welcome to The Retirement Success in Maine Podcast. Here you'll go "in-depth" with Guidance Point Advisors' Investment Consultants to hear stories about how retirees in Maine are navigating a successful retirement, get insight into the inevitable challenges of aging, and define what a "successful" retirement looks like.
How to Master Blending Your Family with Your Spouse’s Family with Nicole Odom-Hardnett
Ep 068: In its most basic sense, a blended family is one where the parents have children from previous relationships, but all the members come together as one unit. Consider the statistics: Roughly 17% of people remarry after a divorce or the death of their first spouse, according to the Census Bureau. Adults who remarry later in life are more likely to bring significant assets to the new union, in the form of retirement savings, brokerage accounts, life insurance policies, and real estate. Understanding the basics of a blended family can be essential for ensuring your family can embrace its strengths and work through its differences. Many blended families successfully overcome these difficulties and become strong, supportive family units for every member. But how?
That's what our guest is here to share! She offers family and relationship coaching services as the founder of Talk To Nicole. Specializing in blended family dynamics, Talk To Nicole helps clients to achieve the life they want by building strong relationships and planning for a brighter future. She is the author of multiple books including Blended to Perfection, Dating Made Simple For Women, and the international best-sellers, Mom's Who Boss Up -Post Pandemic, and Cracking the Rich Code Vol 7. Please welcome Nicole Odom-Hardnett to the Retirement Success in Maine Podcast!
Welcome, Nicole Odom-Hardnett! [4:06]
Nicole’s own experience with a Blended Family. [7:50]
What to do, and not to do, in the early stages of blending families. [22:38]
When blending families, what should people keep in mind regarding their assets, both today and in the future (estate planning)? [39:39]
What is Nicole’s personal definition of Retirement Success? [51:54]
Ben and Curtis conclude the episode. [53:26]
A Mother’s Journey Through Her Son’s Mental Illness, Addiction, and Suicide with Barbara Legere
Ep 067: The abuse of prescription opioids is a serious national crisis. While the opioid epidemic has been declared a national public health emergency, in Maine the situation is particularly alarming: Our state’s rate of opioid-related overdose deaths is among the highest in the country. As you may know from listening to our show, we attempt to find experts that look to provide solutions to real problems that our clients face or may face in retirement. So what do we do when our child, grandchild, spouse, or loved one becomes addicted to substances? How do we live with ourselves when a loved one commits suicide?
When our next guest's son Keven begged her for permission to die, she refused. Keven had spent half his life struggling with addiction while his single mom battled courts, health care companies, rehab facilities, and mental health professionals in an effort to protect him. As their relationship strained and his drug use progressed, she was forced to accept and love Keven as he was in their limited time together—two years before his suicide. In her book, "Keven's Choice: A Mother's Journey Through Her Son's Mental Illness, Addiction and Suicide," she tells the story of trying to navigate the dark worlds of her son’s substance use and depression while also addressing her complicated guilt and regret over how she handled it. In the process, she shines a light on the hidden anguish of countless parents taking care of children that society tells them to abandon. Please welcome Barbara Legere to the Retirement Success in Maine Podcast!
Welcome, Barbara Legere! [3:24]
When did Barbara start to see signs of mental illness in Keven? [10:12]
Does tough love work in a situation like Keven’s? [19:39]
How do you manage money in a situation like Keven’s? Does the money help or cause more harm? [27:14]
What kind of barriers did the stigma against mental illness and addiction cause for Keven? [38:41]
What does Barbara think Keven’s lasting legacy is on this world? [49:09]
Ben and Curtis highlight the conversation. [57:56]
Selling Dead People’s Things with Duane Scott Cerny
Ep 066: It’s time to part with our things, or with a relative's things! How do we get the most value from them? What about the collections that we've obsessed over during our lives, what should we do with those? Isn't that why people have estate sales, to just get rid of things all at once? We decided to seek out an expert in the vintage and antique marketplace to share the tips and tricks we can all use to get the most value from our things. That's the premise of today's show!
In 1988 our guest set off on an antique odyssey. From 1990 to 1998, he and his business partner Jeffrey Nelson operated The Wrigleyville Antique Mall (WAM), one of the first modern multi-dealer vintage stores in Chicago. He then wrote “Selling Dead People’s Things” which documents a slice of those early years of vintage retailing. Today, our guest is an owner of The Broadway Antique Market, home to 75 top dealers. It’s Chicago’s largest multi-dealer shopping destination. Please welcome, Duane Scott Cerny to the Retirement Success in Maine Podcast!
Welcome, Duane Scott Cerny! [1:51]
How should we pre-plan our things in our wills and trusts, or other people’s things that we have inherited, that will allow us to get the most value for them? [14:45]
What are some issues with estate sales, and what can be done to improve them? [27:43]
What resources can people use to get better educated on selling their things and finding out if they have something of value? [32:25]
How have collections performed as an investment for those who have them? [39:31]
What are some items that may surprise people with their value? [51:36]
How will Duane define his personal Retirement Success? [55:00]
Ben and Curtis conclude the conversation. [58:52]
The Ins and Outs of Medicare with Jami Aleksiev
Ep 065: Today we turn 65! What's one thing that every retiree is eligible for when they reach age 65? Medicare, right? Of course, we had to wait for our podcast to be Medicare eligible BEFORE we'd do a Medicare episode. So how do we access Medicare? What are the steps to applying? What are the influences of paying more or less for the benefit? How do we access Medicare as we age? How do I find the right mixture of Medicare coverages for me? What mistakes do people make when on Medicare? That's the premise of today's show!
Our next guest helps educate the public on how to maximize their Medicare benefits. She is the Community Services Manager at Eastern Area Agency on Aging. She's worked at EAAA since 2018. Before coming to EAAA, she spent 13 years working in the Mental Health field. She strongly believes in EAAA's mission and the work they do within the 4 counties they serve within the State of Maine. Please welcome Jami Aleksiev to the Retirement Success in Maine Podcast!
Welcome, Jami Aleksiev! [2:07]
What is the “experience” of claiming Medicare benefits? [6:41]
What are the differences between Part A, Part B, Part C, Part D, and Medigap coverages? How do I know which coverage(s) I need? [15:40]
What questions should people be asking about Medicare? [26:04]
How do people adapt their coverage as they age or as their medical needs change? [28:24]
What has Jami’s experience been, with Mainers, regarding out-of-pocket healthcare costs in Retirement? [41:24]
What are common mistakes people make when they are new to claiming Medicare benefits? [44:20]
What will a Successful Retirement look like for Jami? [45:43]
Ben and Curtis wrap up the conversation. [48:27]
Understanding the Impacts of Inflation on Retirement with Chris Del Col
One thing that we have been discussing a lot with our clients recently is, inflation. As we retire and we think we have so much money to live on and all of a sudden, our cost of living becomes higher and higher. What should we be doing to shore up our financial plan and our portfolio? What are some things that we should be thinking about? In today’s show, we want to take time to better understand inflation.
Our next guest is an Investment Consultant with our team, Guidance Point Advisors. In his 27 years in the financial services industry, he’s provided capital market expertise to some of the world’s largest money management institutions. Over the course of his career, he's transacted in multiple types of fixed income securities, and securitized US treasuries, agencies, corporates, and municipals. Prior to joining Guidance Point Advisors, he spent fifteen (15) years at Goldman Sachs, six (6) years as a director at Deutsche Bank, and six (6) years as a managing director at Nomura Securities. Please welcome our colleague, Chris Del Col to the Retirement Success in Maine Podcast!
Welcome, Chris Del Col! [2:19]
What are the larger impacts that inflation will have on our lives and financial assets? [8:06]
What are the pros and cons of inflation/deflation? [15:42]
How does the supply of money impact inflation? [19:36]
How has inflation been impacting stocks and bonds in 2022? [31:04]
What’s been the history of rising inflation impacting stocks and bonds? [39:34]
How will Chris find his personal Retirement Success? [46:39]
Ben and Curtis discuss the conversation. [48:42]
Practicing Gratitude in the Face of Adversity
Ep 063: The word gratitude is derived from the Latin word gratia, which means grace, graciousness, or gratefulness (depending on the context). Gratitude is a thankful appreciation for what an individual receives, whether tangible or intangible. With gratitude, people acknowledge the goodness in their lives. Gratitude is a way for people to appreciate what they have instead of always reaching for something new in the hopes it will make them happier or thinking they can't feel satisfied until every physical and material need is met. Gratitude helps people refocus on what they have instead of what they lack. And, although it may feel contrived at first, this mental state grows stronger with use and practice.
Our next guest practices gratitude every day. He is a husband, father and successful salesman who has worked in the financial services industry for nearly 20 years. The Cincinnati native is also living with kidney cancer. He was first diagnosed in 2015, but after one of his kidneys was removed, doctors told him he was cancer-free. Then, in late 2018, the cancer returned, and the biopsied tumor was malignant. Since then, he started a blog to track his journey and inspire others. His disease has taught him that how you respond to situations you face defines who you are. Please welcome Matt Moran to The Retirement Success in Maine Podcast!
Welcome, Matt Moran! [4:45]
Matt’s journey with cancer. [9:02]
What is the meaning of G-R-A-T-I-T-U-D-E to Matt? [18:13]
How does being more grateful improve our relationships? [27:32]
What are the Four Houses of Health? [33:45]
What are Matt’s thoughts on practicing gratitude in a comparative way? [44:28]
Why is making amends so important to the practice of gratitude? [48:49]
How will gratitude continue to shape Matt’s life and his retirement? [52:13]
Ben and Curtis conclude the episode. [58:49]
Nice work Ben and Curtis. Matt Moran.
A Great Roadmap for Future Years
I’ve been retired for some time and have enjoyed the guests on the show. They’ve all been very informative and relatable. Looking forward to what’s coming next! Great job, guys!
I enjoy listening and have learned a lot through this podcast! As a retiree, this has been very helpful.