In this solo episode of the Widow Life and Money Podcast, I discuss a transformative financial tool available to Gold Star Widows: the HEART Act. Enacted in 2008, this legislation provides a remarkable opportunity for those who have made the ultimate sacrifice through their spouse's military service.

As a Gold Star Widow, you have access to financial vehicles that can secure your future and honor your spouse's memory. I explain the intricacies of using Service Members Group Life Insurance (SGLI) and death gratuity benefits to fund a Roth IRA under the HEART Act. This episode guides you through the process of potentially investing up to $600,000 tax-free, securing growth over time and offering financial resilience for years to come.

Learn how to act within the 12-month deadline, choose a suitable financial institution, and craft the necessary correspondence to effectively initiate your contributions. This episode also explores the strategic benefits of keeping funds in a Roth IRA, offering untaxed growth and flexibility for withdrawals.

Drawing on my own experiences and those of the Gold Star Widows I've worked with, I talk about the importance of planning, professional help, and understanding your unique financial landscape. This episode is packed with valuable insights and resources to help navigate this significant financial decision.

Affiliated Links Mentioned During the Podcast:

• Wise Stewardship Financial Planning for Consultation

• IRS Publication on HEART Act

Thank you for tuning in to understand a powerful tool designed to offer security and honor loved ones' legacies. If this episode resonates with you or if you have questions, please don't hesitate to reach out on LinkedIn or through our website for further discussions. Your feedback and engagement help us serve and share vital information in this journey together.

Welcome to another episode of the Widow Life and Money Podcast, hosted by me, Daniel Kopp. Today, I am thrilled to host Andi Wrenn, who shares her powerful journey of becoming a military widow and transforming her deep personal loss into a mission to aid other widows, particularly within the military community.

In this heartfelt episode, Andi opens up about her incredible journey from managing government contracts in personal finance to becoming a beacon of support for Gold Star Widows. She candidly shares her own experiences of grief following the untimely passing of her husband after his medical retirement from 27 years of active duty. Through Andi's story, we explore the financial and emotional challenges faced by widows, the overwhelming paperwork, and the importance of seeking professional help.

Andi also discusses the financial benefits available to Gold Star Widows, such as the Survivor Benefit Plan (SBP), Dependency Indemnity Compensation (DIC), and education benefits like the Fry Scholarship. We dive deep into the nuances of these benefits, their implications, and how best to manage and optimize them with the help of financial professionals.

This episode is not just about benefits; it's about resilience, community, and the importance of finding your support network, whether through programs like TAPS or by leaning on veteran service organizations. Andi's insights into grief, brain fog, and the layers of challenges that come with losing a loved one offer invaluable perspectives for those navigating similar paths.

Links Mentioned During the Podcast:

- TAPS (Tragedy Assistance Program for Survivors)

- Andi Wrenn's Website (https://andiwrenn.com)

Full shownotes: https://wisestewardshipfp.com/wlm-ep7/

Thank you for joining us on this journey today. We hope this episode provides you the support and insights needed. If you'd like more guidance or have questions, don't hesitate to reach out through our website or send a message on LinkedIn. Please remember to leave a review if you found this episode helpful, and let us know your thoughts and experiences!

Join us to hear Daniel teach about what widows should know regarding Social Security. It's no secret that Social Security may be in trouble. That news can feel ominous to you as a widow, raising concerns about the reliability of survivor's benefits to help with childcare and retirement. What's more, the rules for social security benefits are complex. But as Daniel will explain, with a little planning, the future is not so bleak.

If you are a recent widow and don't know what to do next, we're here to help you draw a personal map toward making financial decisions that are best for you, organizing your way through the brain fog of grief, and seeking the relational support you need to heal at your own pace. You are not alone.

In this episode, Daniel shares:

• If Social Security is running out

• How Social Security works

• How Social Security benefits widows with children

• How to navigate tax considerations and employment

• Thinking through the best strategies when claiming Social Security

Selected Links from this episode

www.ssa.gov

Understanding how Social Security credits work

Who is entitled to benefits

https://wisestewardshipfp.com/what-widows-need-to-know-about-social-security

https://wisestewardshipfp.com/future-of-social-security

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