Category Archives: Retirement

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Reverse Mortgages 101 with Will Yoho (Ep. 14)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , , , ,

As your circumstances change, so will your cost of living, and for homeowners age 62 or older, a reverse mortgage may be the tool you need to help you access a greater cash flow.

In this episode, we are joined by Will Yoho, Sr. Loan Officer at University Bank and reverse mortgage expert. Will shares with listeners why a reverse mortgage might be an excellent tool, especially after losing a spouse, and how it can help your money outlive you.

Todd and Will discuss:

  • What a reverse mortgage is
  • The basic requirements to qualify for it
  • How to find out if a reverse mortgage is a good financial option for you
  • How a reverse mortgage is different from home equity or a line of credit
  • Why the stigma around having a reverse mortgage is not always accurate
  • And more!

Resources:

Connect with Will Yoho:

Connect with Todd Bessey: 

About Will: 

William Yoho has been assisting homeowners for nearly two decades. As a residential loan officer lending across the country, he has helped with purchases, refinances, and reverse mortgages for single-family homes, condos, and townhomes. He has experience working with clients in every transition of life, from first-time homebuyers to downsizing retirees.

Since 2007, Will has specialized in reverse mortgages. A lending program designed to help seniors access the equity in their homes for everyday expenses such as property taxes, medical bills, home repairs, and even caregiving. His professional and compassionate approach enables seniors and their families to find solutions and help for often complex financial and social situations. Seemingly difficult issues such as incompetency, guardianship, trusts, POA, title issues, and end-of-life planning are part of his normal workday.

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Buying a Home? Here’s How to Finance The Purchase (Ep. 13)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , , , ,

Deciding to purchase a new home means you’ll need to understand how to finance it.

Whether you are buying or selling a home, your financial planner and the right mortgage broker can help analyze your financing options.

In this week’s episode, we are joined by Howard Fielder, Senior Mortgage Consultant at Wintrust Mortgage, to talk about how to strategically find ways to finance your next home in this volatile market.

Todd and Howard discuss:

  • How to address some of the biggest challenges with financing the purchase of a home
  • The different steps in the application process
  • How to help individuals qualify for a mortgage if they don’t have earned income
  • The mortgage products available in today’s market
  • Potential problems in the home financing process and how to avoid them
  • And more

Resources:

Connect with Howard Fiedler:

Connect with Todd Bessey: 

About our Guest: 

As a Senior Mortgage Consultant at Wintrust Mortgage, Howard Fielder has over 28 years of experience in originating mortgages for clients in the northwest suburbs of Chicago. His business is based on treating everyone who contacts him with the best possible consulting, service, cost structure, and rates. Wintrust Mortgage is a mortgage banker that works with several different banks and lenders. We offer competitive pricing and a wide variety of mortgage products for the first-time homebuyer to the seasoned veteran, as well as the technology and support staff to ease you through the process.

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Should I Stay or Should I Move? (Ep.12)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , , , , ,

Often one of the big decisions facing a widowed person is whether to move or stay in their current home. 

Working with a financial planner and an experienced real estate advisor is the logical next step.

In this episode, Dawn Bremer of Keller Williams Success Realty shares her expertise in helping widowed clients assess the value of their home, what to consider in this market, and the process she uses to guide clients through the next steps. 

Dawn discusses:

  • The educational process she takes her widowed clients through
  • How she assesses clients needs and considers their financial situation
  • The evaluation process for purchasing a home as a widow and what it entails 
  • The factors to consider when deciding between buying, selling, or renting 
  • And so much more

Resources: 

Connect with Dawn Bremer:

 Connect with Todd Bessey:

 About our Guest: 

Dawn Bremer leads the team at Keller Williams Success Realty as a real estate broker. She has over 20 years of experience in guiding her clients through the home buying and selling process. Along with her dedication to serving client needs, she has also been very active in the community. She has volunteered with many nonprofits, including the United Way and Food for Thought. She also serves as President of Kids In Need. Dawn holds leadership positions such as President of her local school board and Commissioner of planning and zoning in the city of McHenry, Illinois.



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Protecting Yourself and Your Assets (Ep. 11)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , , , ,

An insurance specialist is one among a group of professionals a widow reaches out to for financial guidance after the passing of a spouse.

Choosing an insurance specialist that takes all your insurance coverage needs into consideration during this time is critical.

In this episode, Todd Bessey has David Albanese, an independent insurance agent with Neis Insurance for 13 years, on the podcast to share some of the top considerations when it comes to insurance planning, and more.

Todd and David discuss: 

  • What Property and Casualty insurance is and the types of coverage that most people might need
  • Examples of items not typically covered and how to include them in your policy
  • Service line coverage and how it can benefit you
  • Ways to save on your auto insurance premiums
  • And more

Connect with Todd Bessey: 

Connect with David Albanese:

About our Guest: 

David Albanese has been an independent insurance agent with Neis Insurance for 13 years.  He specializes in the areas of auto, home, and health insurance.  When working with clients, Dave likes to take a consultative approach, explaining the cost and benefits of the various coverage levels.  In his free time, he’s a bit of a sports fan and loves traveling to visit his 13 nieces and nephews.



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Best Ways to Handle Scary Financial Markets (Ep 10)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , ,

We are continuously waking up to conversations about conflict overseas, post-pandemic life, higher inflation, rising interest rates, and a declining stock market. 

So, what actions should you take to protect your financial situation in uncertain times?

In this episode, Todd Bessey is joined by Samantha Glaz of First Trust Portfolios to help address these issues. Sam provides some thoughts on navigating the financial market during tough times and the importance of playing the long game when it comes to your financial success. 

Samantha discusses: 

  • The difference between a bull and bear market
  • How our current economic situation compares to previous economic difficulties
  • Mistakes investors might make in a volatile market
  • How to best position yourself for financial success
  • And more

Connect with Todd Bessey: 

Connect with Samantha Glaz:

About our Samantha Glaz: 

Samantha Glaz is a Vice President with First Trust Portfolios in Wheaton, Illinois, Her focus is on providing financial advisors with industry-leading economic and market commentary, portfolio analysis and practice management consulting. Samantha has fifteen years of financial services experience, having worked for JPMorgan and Guggenheim prior to joining First Trust in 2014. Samantha graduated with academic honors from the business school at the University of Illinois in Champaign-Urbana.

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Protecting Yourself from Financial Fraud (Ep 9)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , ,

Fraudsters are most successful when their victims are in a vulnerable state of mind, and losing a spouse can do that. 

It’s hard enough to cope with the death of a spouse, but to have to worry about being scammed on top of that is just too much. Unfortunately, these scams are all too common and can hurt your financial plan.

In this episode, Todd Bessey discusses common scams to watch for and preventive measures to help avoid them. 

Todd discusses: 

  • How fraudsters and scammers work
  • The three types of scams that are most concerning
  • How people can protect themselves from scams
  • What to do if you have become a victim of fraud
  • And more

Connect with Todd Bessey: 

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Tax Planning Ideas with Kelly Swisher (Ep 8)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , ,

In the event of a spouse’s death, the surviving spouse is left feeling overwhelmed and confused when it comes to the family finances.

Suddenly being responsible for all the bills, investments, and other money-related items can feel like a daunting task. Especially if you don’t have any previous experience in this area.

In this episode,  Kelly Swisher, CPA and senior manager of accounting and tax services at Eder, Casella & Company returns to Widowed But Not Alone Podcast. She provides tips and tricks on how widows can keep more money in their pockets after their spouse’s death. 

Kelly discusses: 

  • Two things you need to do immediately after your spouse dies
  • The age the surviving spouse can start to receive benefits 
  • Taxation of Social Security Benefits 
  • How interest is taxed at the state and federal levels 
  • And More!

Connect with Todd Bessey: 

Connect with Kelly Swisher:

About our Guest:

My parents were great examples to me and my three sisters,” says CPA Kelly Swisher. “They showed us that hard work and generosity matters. They taught us how to be motivated, told us we should follow our dreams, and also encouraged us to enjoy life.”

Those lessons eventually led Swisher from Rockford, Illinois, where she grew up and attended high school, to college, where she earned a Bachelors of Science in Accounting from Northern Illinois University in 2006 and a Masters of Accounting Science from the school a year later. She joined Eder, Casella & Co. in 2008, and is a manager working on tax returns, and monthly and quarterly accounting, while also offering QuickBooks assistance to business clients. “One of my strengths is I can easily adapt and work in many different accounting software platforms,” she says.

Swisher, who is a member of the Illinois CPA Society and the Barrington Breakfast Rotary, enjoys the problem-solving nature of client relationships. “I enjoy helping clients who have accounting problems, a situation where I can come in to fix issues,” the married mother of three says. “It is also great to help clients with their accounting efficiencies — anything to help the client save time and money. Accounting is like a puzzle you have to figure out, with many moving pieces, and it feels great when the puzzle is solved.”



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Tax Planning After A Loss with Kelly Swisher (Ep 7)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , ,

The hardest part of widowhood is dealing with the series of firsts that proceeds with your spouse’s passing. There is the first month after, the first birthday, the first anniversary. 

Add in the first time doing taxes without your spouse on top of all of that can be daunting. Organizing your taxes is critical to giving you a sense of control.

So, where and how do you start the tax planning process? 

In this episode, Todd Bessey meets with Kelly Swisher, CPA and senior manager of accounting and tax services at Eder, Casella & Company. She provides tips and tricks that can help widows make good decisions when it comes to tax planning.

Kelly discusses: 

  • Best practices for widows dealing with taxes for the first time without their spouse 
  • How long children can be claimed as dependents on your tax return
  • What a spousal rollover is
  • What step-up in basis means 
  • And More!

Connect with Todd Bessey: 

Connect with Kelly Swisher:

About our Guest:

My parents were great examples to me and my three sisters,” says CPA Kelly Swisher. “They showed us that hard work and generosity matters. They taught us how to be motivated, told us we should follow our dreams, and also encouraged us to enjoy life.”

Those lessons eventually led Swisher from Rockford, Illinois, where she grew up and attended high school, to college, where she earned a Bachelors of Science in Accounting from Northern Illinois University in 2006 and a Masters of Accounting Science from the school a year later. She joined Eder, Casella & Co. in 2008, and is a manager working on tax returns, and monthly and quarterly accounting, while also offering QuickBooks assistance to business clients. “One of my strengths is I can easily adapt and work in many different accounting software platforms,” she says.

Swisher, who is a member of the Illinois CPA Society and the Barrington Breakfast Rotary, enjoys the problem-solving nature of client relationships. “I enjoy helping clients who have accounting problems, a situation where I can come in to fix issues,” the married mother of three says. “It is also great to help clients with their accounting efficiencies — anything to help the client save time and money. Accounting is like a puzzle you have to figure out, with many moving pieces, and it feels great when the puzzle is solved.”



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Understanding Your Personal Net Worth (Ep 6)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, Uncategorized, , , , , , , ,

Understanding what you own versus what you owe can be a difficult task for a widow. 

Organizing your assets and liabilities is crucial to giving you a sense of control. It can also reduce your anxiety regarding your finances while still dealing with your grief. 

In this episode, Todd Bessey continues his discussion on best practices when helping widows organize their financial assets and liabilities.

Todd discusses: 

  • What are assets and liabilities 
  • How to calculate your net worth
  • The importance of understanding your tax situation 
  • The role of the Power of Attorney 
  • And More!

Connect with Todd Bessey: 

 

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Preparing to Make Financial Decisions (Ep 5)

Education, Finance, Financial Advisor, Financial Planning, Investing, Retirement, , , , ,

Making decisions and taking action can be quite difficult for a widow. However, at some point you must address financial issues that need your attention. 

Organizing your finances is critical to giving you a sense of control. It can also reduce your concerns about financial stability while you’re still dealing with grief, fear, and uncertainty.

So, where and how do you start? 

In this episode, Todd Bessey discusses best practices when helping widows deal with the financial decision making process. 

Todd discusses: 

  • Why having a good support system is so important
  • The value of having a trusted professional to guide you through making financial decisions
  • The different types of retirement accounts that need to be looked at or reviewed
  • The effects of the surviving spouse not being employed
  • And More!

Connect with Todd Bessey: 

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