Wisdom & Wealth: Financial Clarity For Families in Transition Donna Kendrick

Just like an annual checkup is important for maintaining good health, performing regular financial checkups is an essential part of planning for a healthy and successful retirement. In today’s episode, Donna gives us a glimpse at what financial wellness checkups look like at Sephton Financial.
 
Here are the points we discuss in today’s show:
0:00 – Intro
1:02 – Reviewing your goals
3:04 – Checking your “vitals”
5:40 – Building financial immunity
7:18 – Screening your portfolio
9:13 – Debt diagnosis
11:41 – Preventative measures
 
Get additional financial information: https://sephtonfinancial.com/podcasts/
Check out the video version of the podcast: Sephton Financial Channel - YouTube
 
 
 
 

As much as any other threat, recognizing and avoiding scams has become an essential skill, particularly for retirees. Join us as we explore crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. Learn from real-life stories and gain practical advice to keep your finances secure in this digital era, all from the perspective of a seasoned financial professional.
 
Here’s what we share in today’s show: 
Some real-life examples of financial scams + surprising statistics Phishing, vishing, and smishing scamming techniques Some ways to spot some of these scams and protect your personal information What should you do if you fall victim to a scam?  
CNBC Article
https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html
 
Thomson Reuters Article
https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/
 
Get additional financial information: https://sephtonfinancial.com/podcasts/

As International Women’s Day approaches (March 8), it’s the perfect time to reflect on the progress women have achieved in the financial realm over the past century. Despite this, the path to retirement is not without its unique challenges for women, and it’s important to recognize the financial hurdles that they continue to face. From career interruptions to the impact of higher debt burdens, this is why retirement planning is different for women.
 
Here are the points we discuss in today’s show:
Career interruptions that women often face and how this impacts retirement savings Women’s longer life expectancy + the impact of divorce on women’s finances The higher debt statistics for women A lack of education when it comes to personal finance + women’s confidence when it comes to finances The importance of both parties being involved in financial planning  
Resources for this episode:
https://pubmed.ncbi.nlm.nih.gov/23331196/
https://www.troweprice.com/content/dam/iinvestor/resources/insights/pdfs/closing-the-gender-retirement-savings-gap.pdf
https://www.prnewswire.com/news-releases/bmo-survey-finds-american-women-significantly-less-confident-in-retiring-compared-to-men-301764524.html
 
Get additional financial information: https://sephtonfinancial.com/podcasts/

This episode might be a bit counterintuitive. We’re going to question the real impact of common financial habits. Are the strategies you consider beneficial actually working in your favor?
 
Here’s some of what we discuss in this episode:
Ignoring account statements can be beneficial in avoiding overreactions to market fluctuations, but it's important to periodically check them to stay informed about your financial situation and unexpected changes Finding a balance between financial discipline and enjoying life's moments Being patient in entering the stock market can help avoid irrational decisions, but waiting too long may lead to missed opportunities Having too much in cash reserves may result in missed opportunities for growth and life experiences Overcoming procrastination when it comes to financial and estate planning Some of Donna’s goals for the business in 2024  
Get additional financial information: https://sephtonfinancial.com/podcasts/
 

Have you ever wondered what questions to ask your financial advisor, or why those questions are crucial? In today’s episode, we’re tackling exactly that. We're discussing the vital questions that bring transparency and depth to your financial advisory relationship.
 
Here are some of the questions we talk about in today’s show:
“How do you get paid?” “What does your typical client look like?” “What is your investment philosophy?” “Do you have a particular strength or specialty?” “Do you provide educational resources?” "Will I be working with you, someone on your team, or both?"  
Get additional financial information: https://sephtonfinancial.com/podcasts/
 

We’re back to wrap up our discussion on easy personal finance wins. While crafting a comprehensive financial plan is crucial, sometimes making minor adjustments in your portfolio can yield significant benefits. Listen in as we share some more powerful strategies to help get your financial house in order.
 
Here’s some of what we discuss in this episode:
Analyzing the tax efficiency of your investments Regularly reviewing and updating beneficiary designations Rebalancing your investment portfolio Accurately assessing and funding your emergency fund by tracking your spending patterns The benefits of automating your savings  
Get additional financial information: https://sephtonfinancial.com/podcasts/