In episode 75 of Accessible Finance, we address an emotional and critical listener question from someone who has recently lost a spouse and feels overwhelmed with financial decisions. The discussion covers key initial steps such as pausing big decisions, getting organized, securing income sources, and the importance of involving trusted financial professionals. We discuss the tax implications of going from married filing jointly to single, handling RMDs, updating beneficiaries, and social spending's impact on well-being. Tune in for expert advice and insights aimed at helping those navigating this challenging time.
00:00 Introduction and Listener Question
00:56 Initial Steps After Losing a Spouse
01:55 Organizing Financial Documents
02:37 Dealing with Scammers and Predatory Behavior
05:47 Tax Implications and Financial Planning
07:02 Meeting with a Financial Professional
14:23 Adjusting Beneficiaries and Budget
16:11 Social Spending and Emotional Well-being
18:19 Key Takeaways and Final Advice
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