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The Growing Impact of Wealth Transfers to Women & Widows

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The Growing Impact of Wealth Transfers to Women & Widows

Reading Time: 3 minutes

In recent years, the topic of wealth transfer has gained significant attention, especially regarding the financial futures of women and widows. Kathleen, a financial expert and advocate, shared her insights in a recent discussion about the immense shift of wealth projected to occur over the next few decades. With estimates ranging from $30 trillion to $84 trillion, this transfer, largely from baby boomers, will redefine financial landscapes for women across generations.

A Historic Shift in Wealth Dynamics

For decades, the baby boomer generation—those born between 1946 and 1964—has been the cornerstone of economic activity. As the youngest members of this generation turn 60 and the oldest approach their 80s, the wealth they’ve accumulated is beginning to transition. Boston College’s Center on Wealth and Philanthropy estimates that 70% of this wealth will pass to women, with widows inheriting a substantial portion.

Kathleen highlights a poignant example: Ruth Gutterman, a 93-year-old widow, who recently donated $1 billion inherited from her late husband to Einstein College of Medicine. While few inheritances are this monumental, the significance of women stepping into roles as wealth managers cannot be overstated.

Challenges in Navigating Wealth Inheritance

Inheriting wealth often comes during a time of profound loss, adding emotional complexity to an already intricate process. Kathleen notes that many widows face hurdles such as transferring accounts, navigating paperwork, and understanding legal implications. Even financial custodians may struggle with the nuances, leading to delays or errors.

To address these challenges, advisors are creating safeguards, such as enhanced contractual language, to protect clients. For example, provisions ensure funds are only accessed with proper documentation, safeguarding against potential fraud while giving families peace of mind during a vulnerable time.

Preparing for the Wealth Transfer

With a significant wealth shift on the horizon, women and widows can take steps to ensure they are prepared:

  1. Build Trusted Relationships with Advisors
    Selecting an advisor who understands the unique challenges of wealth inheritance is essential. Kathleen emphasizes the importance of finding someone knowledgeable about estate planning, taxes, and the emotional aspects of managing newfound wealth.
  2. Educate Yourself
    Financial literacy is a cornerstone of independence. Resources like the Women’s Institute for a Secure Retirement (WISER) provide tools specifically tailored for women. These include free guides, webinars, and podcasts that empower individuals to make informed decisions.
  3. Protect Against Fraud
    Having measures in place to verify requests for funds or account changes is vital. Trusted advisors can act as a buffer, ensuring all actions are thoroughly vetted and aligned with the client’s best interests.
  4. Define Your Legacy
    Wealth transfer offers an opportunity to align financial decisions with personal values. Whether supporting family, funding education, or contributing to philanthropic causes, women and widows can shape a legacy that extends beyond their lifetime.

Moving Forward with Confidence

The great wealth transfer represents more than a redistribution of assets—it’s a pivotal moment for women to take the reins of financial decision-making. With the right support systems, education, and advisors, women and widows can navigate this transition with confidence and purpose, ensuring their financial futures are secure and impactful.

As Kathleen reminds us, preparation is key. By equipping themselves with knowledge and trusted guidance, women can transform this wealth transfer into a lasting opportunity for growth and empowerment.

More From Kathleen

Some of our most popular blogs are the financial scam series we posted on our website. We talk about how to emotionally heal after being financially scammed, how to help others who have been financially scammed, and 11 ways to protect yourself from being financially scammed. You can find all of those on our blog page.

Please be sure to subscribe to our podcasts as we will be interviewing Kathleen on an upcoming podcast where she explains how to simply write a legacy letter to your family and friends. You will not want to miss it. You can purchase Kathleen’s book here.  

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

 

Empowering Widows in a Changing Financial Landscape

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Empowering Widows in a Changing Financial Landscape with Kathleen Rehl

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The landscape of widowhood has seen significant changes in recent years, particularly in the realm of financial planning and wealth management. Kathleen Rehl, a financial expert and advocate for empowering widows, shared her perspective on these evolving trends in a recent interview. With over four years since her last appearance on our podcast, Kathleen discussed the growing emphasis on financial independence for widows and the ways technology and education are reshaping their experiences.

A Shift Toward Financial Independence

Historically, widows often relied on family support, both financially and emotionally, after the loss of a spouse. Kathleen reflects on past generations, noting how widows in the Victorian era would wear “widow’s weeds” (black garments symbolizing mourning)  for an entire year. Even her own great-grandmother moved in with family after becoming widowed, a common practice in earlier times. Today, however, there is a strong shift towards financial independence for widows, a trend Kathleen views as crucial.

Women, in general, are gaining more financial autonomy, pursuing education, and building long-lasting careers. For widows, this independence is even more essential as they navigate life after loss. “There is much greater availability of financial education out there now,” Kathleen says. She highlights resources like the Women’s Institute for a Secure Retirement (WISER), which offers free white papers, podcasts, and educational events aimed specifically at women and widows.

The Role of Technology and Social Networks

In addition to financial education, technology has created a more connected and supportive environment for widows. Kathleen points to organizations like Soaring Spirits International and its online community, Widows Village, where widows can find support groups based on their specific needs, such as young widows with children or those still working. These platforms provide both emotional support and practical advice, helping widows navigate their financial futures.

Kathleen also mentions the rise of events like Camp Widow, which now hosts conferences across the globe, including in Toronto and Australia. At these events, widows gather to learn, connect, and heal. Kathleen will be speaking at the upcoming event in Tampa, Florida, on the stages of widowhood and how to transition through financial matters.

Even artificial intelligence (AI) is playing a role in supporting widows. In a lighthearted experiment, Kathleen shared how she used ChatGPT to ask for advice for new widows, and within seconds, the AI returned helpful information — even recommending her own book, Moving Forward on Your Own: A Financial Guidebook for Widows.

Navigating Grief and Financial Planning

One of the most significant challenges widows face is making sound financial decisions during the early stages of grief. Kathleen discusses the phenomenon of “widow’s brain,” where intense grief can cloud judgment and make decision-making difficult. “It’s not that you’re going crazy,” she reassures, “it’s just that widow’s brain in that early, very deep grief.” This insight underscores the importance of having a strong financial plan in place and seeking support from trusted advisors during this vulnerable time.

As Kathleen continues to advocate for widows’ financial independence, her message is clear: with the right education, resources, and support networks, widows can move forward with confidence, even in the face of loss. For those interested in learning more, Kathleen’s book offers a valuable guide to navigating financial matters after the death of a spouse.

More From Kathleen

Some of our most popular blogs are the financial scam series we posted on our website. We talk about how to emotionally heal after being financially scammed, how to help others who have been financially scammed, and 11 ways to protect yourself from being financially scammed. You can find all of those on our blog page.

Please be sure to subscribe to our podcasts as we will be interviewing Kathleen on an upcoming podcast where she explains how to simply write a legacy letter to your family and friends. You will not want to miss it. You can purchase Kathleen’s book here.  

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

 

Living In Retirement Together Isn’t Easy

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Living In Retirement Together Isn’t Easy with Kathleen Rehl

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In this episode of Intelligent Money Minute, we explore an often overlooked aspect of retirement planning: preparing emotionally, psychologically, and relationally for this significant life change. While financial readiness is crucial, it’s equally important to ensure that couples are prepared for the non-financial aspects of retirement, such as how they will spend their time and maintain their relationships.

The Importance of Non-Financial Preparation for Retirement

Retirement isn’t just about having enough money to live comfortably; it’s also about understanding how you’ll spend your time and how it will affect your relationships. We often help our clients prepare for the emotional and psychological shifts that accompany this new phase of life. Being mentally and emotionally prepared is just as vital as being financially secure.

During the podcast, we discussed an exercise we use to help couples visualize their future together. Recently, I worked with a couple where the wife had already retired, and the husband was about to retire. To help them align their expectations, I gave them a simple exercise: a weekly schedule divided into 28 time blocks, representing four segments—morning, noon, afternoon, and evening—across the seven days of the week.

The Benefits of This Simple Planning Tool

The couple was asked to fill in each time block with activities they envisioned for themselves during retirement. When they returned, they shared their plans with each other. The wife had filled her schedule with activities such as bridge games, church meetings, and social events. The husband, however, was surprised to find himself only included in two of her planned activities. This revelation led to an important discussion about how they would spend their time together and balance individual and shared activities.

This exercise is a powerful tool for sparking meaningful conversations about expectations and shared goals in retirement. It helps couples understand each other’s desires and plan for a fulfilling life together, beyond just the financial aspects.

If you’re preparing for retirement, consider trying this exercise with your partner. To make it easier, we’ve created a downloadable 28-block template that you can use to plan your activities and discuss your expectations. This practical tool is designed to help you think through how you want to spend your time and ensure that both partners’ needs are met.

More From Kathleen Rehl

Some of our most popular blogs are the financial scam series we posted on our website. We talk about how to emotionally heal after being financially scammed, how to help others who have been financially scammed, and 11 ways to protect yourself from being financially scammed. You can find all of those on our blog page.

Please be sure to subscribe to our podcasts as we will be interviewing Kathleen on an upcoming podcast where she explains how to simply write a legacy letter to your family and friends. You will not want to miss it. You can purchase Kathleen’s book here.  

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

 

What Are Powers of Attorney?

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What Are Powers of Attorney? with Chace Campbell

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On our latest episode of Intelligent Money Minute, we had the pleasure of interviewing Chace Campbell, an experienced attorney with over 20 years of legal expertise. During the conversation, Chace broke down the often-confusing concepts surrounding powers of attorney, providing clarity on the differences between durable, limited, and general powers of attorney. For those navigating estate planning or concerned about future incapacities, understanding these distinctions is crucial.

What Are Powers of Attorney?

To begin, Chace explained that the term “power of attorney” essentially refers to the legal authority given to one person (the agent) to act on behalf of another (the principal). This authority can vary significantly in scope, depending on the type of power of attorney in place.

  1. General Power of Attorney: This is the broadest form, allowing the agent to act on behalf of the principal in a wide range of matters. Chace highlighted that this could include managing financial affairs, making healthcare decisions, or handling legal matters, especially if the principal becomes incapacitated and unable to manage these tasks themselves.
  2. Limited Power of Attorney: In contrast, a limited power of attorney restricts the agent’s authority to specific tasks or decisions. For example, Chace mentioned scenarios where someone might need to authorize another person to withdraw a specific amount from their bank account or sign documents for the sale of a property while they are out of town. The limitations are clearly defined within the document, ensuring the agent’s authority only extends as far as necessary.
  3. Durable Power of Attorney: The concept of durability adds another layer to powers of attorney. As Chace explained, durability ensures that the agent’s authority remains in effect even if the principal becomes legally incapacitated. This is particularly important in cases where the principal might fall into a coma or suffer from a condition that prevents them from making informed decisions. Without this durability clause, the power of attorney would typically become void if the principal loses mental capacity.

Legal Incapacity and Its Implications

Delving deeper, Chace clarified what legal incapacity entails and how it relates to the durability of a power of attorney. Legal incapacity can arise in several situations, such as when a principal is in a coma, suffers from severe cognitive impairment, or is otherwise unable to understand and manage their affairs.

Chace emphasized that the durability clause is vital in these scenarios because it ensures that the agent can continue to act on behalf of the principal, providing continuity and protection for their interests. This clause is essential for anyone concerned about the possibility of becoming incapacitated and wanting to ensure that their affairs are managed according to their wishes.

Key Takeaways

As our conversation with Chace Campbell highlighted, understanding the distinctions between general, limited, and durable powers of attorney is crucial for effective estate planning and legal preparedness. Each type serves a specific purpose, and selecting the right one depends on the individual’s circumstances and the level of authority they wish to grant.

For those looking to secure their future and ensure that their legal and financial matters are handled appropriately, consulting with an experienced attorney like Chace is a wise step. By doing so, you can create a tailored plan that addresses your unique needs and provides peace of mind, knowing that your affairs are in capable hands.

Stay tuned for more interviews with Chace, where we’ll dive deeper into his expertise and the valuable lessons he has to share with our intelligent investing audience, so be sure to subscribe to our Intelligent Money Minute podcasts.

Schedule a short discovery call or meeting

Chace Campbell Bio

Chace is a seasoned legal professional with over 20 years of experience in estate planning, business law, and probate. He began his career in 1997 at Culp, Elliot, and Carpenter, P.L.L.C., focusing on tax and corporate law before discovering his passion for family law, probate, and small businesses in 2002.

Chace is renowned for his exceptional communication skills and careful listening. He is dedicated to helping clients navigate complex legal landscapes, providing comprehensive understanding and effective resolutions through litigation, mediation, negotiation, or forward planning. He emphasizes both resolving and preventing legal issues, offering accurate information, honest advice, and concrete action steps.

Outside of work, Chace enjoys time with his wife Michelle and their three children, preparing for outdoor adventures at REI, and indulging in his passion for coffee.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.

Chace Campbell’s Journey to Becoming a Legal Expert

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Chace Campbell's Journey to Becoming a Legal Expert

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On this episode of Intelligent Money Minute, we interviewed Chace Campbell, a distinguished attorney based in Greenville, with over 20 years of legal experience. Chace’s story is one of diverse experiences and deep-rooted passion for the law, family, and business.

Early Influences and Entrepreneurial Roots

Chace’s journey began in his childhood, growing up as the only child of a serial entrepreneur. His father’s ventures provided Chace with an early education in business, sparking his interest and shaping his understanding of what it means to be a business owner. He recalls fondly the times his father would take him along to business meetings, allowing him to observe and learn the intricacies of various industries.

These experiences were more than just father-son bonding moments; they were foundational lessons that would later inform Chace’s legal practice. “The education I got from those experiences has stayed with me throughout my life,” Chace reflects. This early exposure to business operations equipped him with a unique perspective that he brings to his legal practice, especially when dealing with business owners and entrepreneurs.

The Path to Law

Despite his entrepreneurial upbringing, Chace always aspired to be a lawyer. Initially influenced by iconic TV lawyers like Perry Mason and Matlock, Chace pursued his dream, earning his JD with honors from the University of South Carolina School of Law in 1997. His early career at Culp, Elliot, and Carpenter, P.L.L.C. saw him specializing in tax and corporate law, but it wasn’t long before he found his true calling.

In 2002, Chace transitioned to focus on family law, probate, and small businesses. This shift was driven by his passion for the interpersonal dynamics within these areas, where he felt he could make the most significant impact. His ability to listen attentively and communicate effectively has made him a trusted advisor for his clients, helping them navigate complex legal landscapes.

Building His Own Practice

After several years of working with established firms, a pivotal moment in Chace’s career came when he was appointed to represent three children whose mother had been incarcerated. This experience was a turning point, inspiring him to start his own practice. In 2002, he founded Chace Law, initially focusing on guardianship cases before expanding to encompass business and estate planning.

Chace’s practice is characterized by a holistic approach, recognizing the interconnectedness of business, probate, and estate planning law. “Those are not really three different areas to us; those are really interconnected,” he explains. This integrated perspective allows Chace to offer comprehensive legal solutions tailored to the unique needs of his clients.

A Day in the Life

Today, Chace’s clients range from entrepreneurs and business owners to individuals dealing with estate planning and probate issues. His practice areas may seem distinct, but they often intersect, reflecting the complexity of modern legal challenges. Chace’s goal is to provide decisive legal action balanced with compassionate understanding, ensuring his clients receive the best possible outcomes.

Stay tuned for more interviews with Chace, where we’ll dive deeper into his expertise and the valuable lessons he has to share with our intelligent investing audience, so be sure to subscribe to our Intelligent Money Minute podcasts.

Schedule a short discovery call or meeting

 

Chace Campbell Bio

Chace is a seasoned legal professional with over 20 years of experience in estate planning, business law, and probate. He began his career in 1997 at Culp, Elliot, and Carpenter, P.L.L.C., focusing on tax and corporate law before discovering his passion for family law, probate, and small businesses in 2002.

Chace is renowned for his exceptional communication skills and careful listening. He is dedicated to helping clients navigate complex legal landscapes, providing comprehensive understanding and effective resolutions through litigation, mediation, negotiation, or forward planning. He emphasizes both resolving and preventing legal issues, offering accurate information, honest advice, and concrete action steps.

Outside of work, Chace enjoys time with his wife Michelle and their three children, preparing for outdoor adventures at REI, and indulging in his passion for coffee.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.

Not Wired to Retire: Encore Careers in Retirement

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Not Wired to Retire: Encore Careers in Retirement with Kathleen Rehl

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At Intelligent Investing Advisors, we are dedicated to helping our clients navigate the complexities of retirement with confidence and clarity. We prioritize providing personalized guidance to ensure that our clients feel empowered throughout their retirement journey. In a recent interview, we spoke with Kathleen Rehl, a leading authority on encore careers in retirement. Together, we explored the concept of not being wired to retire and highlighted the significance of emotional and psychological readiness for retirement.

Not Wired to Retire: Seeking Purpose Beyond Traditional Retirement

Kathleen Rehl’s philosophy challenges traditional retirement norms. Retirement, to her, isn’t about endless leisure; it’s about finding purpose and fulfillment daily. As she aptly puts it, retirement isn’t just about golf or fine dining; it’s about embracing activities that bring joy and meaning. For many, retirement isn’t the end; it’s a new beginning. Kathleen emphasizes embracing encore careers, where passions can thrive. From speaking engagements to articles, her journey showcases the potential of encore careers in retirement fulfillment.

The Three Pillars of Retirement Readiness

Kathleen emphasizes that retirement readiness goes beyond finances. Emotionally, psychologically, and relationally, individuals must prepare for retirement’s challenges. Managing financial stress and navigating relationship shifts are crucial for a smooth transition.

At Intelligent Investing Advisors, we understand retirement planning is multifaceted. By addressing emotional, psychological, and relational aspects, we empower clients to transition smoothly. Our approach ensures clients are prepared financially and emotionally for retirement.

Retirement signifies not the end of one’s journey but an opportunity to redefine fulfillment and pursue novel avenues of growth and contribution.

More From Kathleen Rehl

Some of our most popular blogs are the financial scam series we posted on our website. We talk about how to emotionally heal after being financially scammed, how to help others who have been financially scammed, and 11 ways to protect yourself from being financially scammed. You can find all of those on our blog page.

Please be sure to subscribe to our podcasts as we will be interviewing Kathleen on an upcoming podcast where she explains how to simply write a legacy letter to your family and friends. You will not want to miss it. You can purchase Kathleen’s book here.  

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

 

Insights for DIY Investors and Fiduciary Seekers

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What to do with DIY Investors

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At Intelligent Investing Advisors, we often delve into discussions about the intricacies of financial planning, wealth management, and investment strategies. Recently, we had the opportunity to sit down with Rob Isbitts, a seasoned investment expert, to explore the realm of do-it-yourself (DIY) investing.

Recognizing the Value of Professional Guidance

In our dialogue, Rob drew parallels between DIY investing and everyday tasks like lawn care or tax preparation. While there’s merit in autonomy, he stressed the point where outsourcing to professionals can yield superior outcomes. Recognizing when professional guidance is essential, especially in finance’s complexity, becomes paramount.

Rob illuminated the mindset of the DIY investor, who may view financial advisors as sales-oriented rather than focused on client welfare. While autonomy is admirable, he cautioned against navigating the financial landscape solo. Developing a robust investment philosophy and seeking guidance on non-investment aspects are crucial steps for DIY investors.

Establishing an Investment Philosophy

Emphasizing the cornerstone of successful investing, Rob highlighted the significance of a well-defined investment philosophy. Articulating beliefs and principles guides decision-making amidst market fluctuations. At Intelligent Investing Advisors, we align with Rob’s stance, emphasizing values and goals alignment in our investment strategies.

Rob stressed the importance of combating behavioral biases in today’s information-rich investment environment. At Intelligent Investing Advisors, we acknowledge behavioral finance’s impact on outcomes and empower clients to make informed decisions grounded in sound financial principles.

As the debate between DIY investing and professional guidance persists, Intelligent Investing Advisors stands firm in empowering clients with knowledge and tools for informed decisions. Whether seasoned or new investors, we offer tailored guidance for each unique financial journey. Let’s navigate the markets together, one informed decision at a time.

Rob Isbitts Bio

Rob Isbitts, the founder of ETFYourself.com, is a seasoned investment expert renowned for his role as a serial myth-buster and educator in the finance industry. With 30 years of professional investment experience, he transitioned from a Wall Street grunt to a fiduciary advisor for nearly three decades. Notably, he sold his advisory practice and “retired” in 2020 at 56, only to enter a “10-year, no-cut contract” to provide model portfolio services. In 2020, he founded Sungarden Investment Publishing, followed by ETFYourself.com in 2023. Rob has authored over 1,000 articles for esteemed platforms like etf.com, Forbes, and Marketwatch, and is a frequent guest on podcasts. He’s recognized as a straight-talker, fair-play advocate, and champion of diversity in investing, with accolades including three-time mutual fund manager, author, and honoree in Worth Magazine’s “Top 100 U.S. Wealth Advisors” list. His wife, Dana Isbitts, plays a pivotal role in managing their ventures.

The Five Ways to ReFire Your Retirement

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The Five Ways to ReFire Your Retirement with Kathleen Rehl

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At Intelligent Investing Advisors, we believe in helping our clients not just retire but re-fire their lives for a fulfilling and purposeful future. In a recent interview with Kathleen Rehl, a leading expert in empowering widows financially, we delved into the concept of “re-firement” and the five essential elements that make it possible.

Kathleen’s Journey: From Childhood Chores to Financial Empowerment

Kathleen Rehl’s journey is a testament to the power of resilience and adaptation. Born and raised in Wisconsin amidst challenges and responsibilities, Kathleen’s path led her from humble beginnings to becoming a beacon of hope for widows seeking financial independence. Her background in academia, nonprofit work, and financial advising uniquely positioned her to make a difference in the lives of those navigating loss and transition.

The Five “Re-Fire” Principles

1. Family: At the core of Kathleen’s philosophy is the importance of family. Beyond financial stability, re-firement involves nurturing relationships and cherishing moments with loved ones.

2. Fun: Re-firement isn’t just about responsibilities; it’s about finding joy in everyday experiences. Kathleen emphasizes the value of incorporating fun activities into retirement plans to cultivate a sense of fulfillment.

3. Focus and Purpose: While retirement may signify the end of a career, it’s also an opportunity for a new beginning. By staying focused on personal goals and finding purpose in each day, individuals can redefine their sense of fulfillment.

4. Friends: Social connections play a vital role in re-firement. Kathleen advocates for fostering meaningful friendships and nurturing a support network that enriches life beyond retirement.

5. Fitness: True wealth encompasses more than just financial stability—it extends to physical, mental, and spiritual well-being. Prioritizing fitness in all its forms ensures a balanced and holistic approach to re-firement.

As Kathleen’s journey illustrates, life is a series of pivots and transitions. Embracing change and staying open to new opportunities is key to crafting a fulfilling retirement. Just as Kathleen discovered her true calling in empowering widows, individuals approaching retirement can find renewed purpose by embracing the five pillars of re-firement.

In conclusion, Kathleen Rehl’s story reminds us that retirement isn’t the end of the road—it’s a chance to ignite new passions, cultivate meaningful connections, and embrace life’s journey with enthusiasm. By adopting the “re-fire” mentality, we can turn retirement into a chapter filled with purpose, joy, and fulfillment.

Some of our most popular blogs are the financial scam series we posted on our website. We talk about how to emotionally heal after being financially scammed, how to help others who have been financially scammed, and 11 ways to protect yourself from being financially scammed. You can find all of those on our blog page.

Please be sure to subscribe to our podcasts as we will be interviewing Kathleen on an upcoming podcast where she explains how to simply write a legacy letter to your family and friends. You will not want to miss it. You can purchase Kathleen’s book here.  

Kathleen Rehl Bio

Kathleen M. Rehl, Ph.D., CFP®, CeFT® wrote the multi-award-winning book, Moving Forward on Your Own: A Financial Guidebook for Widows. Experiencing widowhood herself, Dr. Rehl empowers widows financially™ and inspires their advisors. Her work has been featured in the New York Times, Wall Street Journal, AARP Bulletin, CNBC, USA Today, U.S. News & World Report, Journal of Financial Service Professionals, Journal of Financial Planning, and other publications. Rehl owned a financial planning firm for 17 years before retiring to her “encore” career. She walks an hour daily, practices yoga, enjoys art and music festivals, writes poetry and makes art, loves her grandsons . . . and continues to evolve on her journey.

 

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