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

Schedule a Free Consultation

Join Daniel in a conversation with Emily Jones of Brave Widow, an organization where young widows can find healing, hope, and the courage to dream again. Emily lost her husband and best friend, Neal, one month before their 20th wedding anniversary in 2021. She was just 37 and the mother of four children, ages 12-21.

In this episode, Emily shares the difficulties of learning household maintenance and new routines while still working full-time and caring for her family. In addition to her own grief, Emily became aware of the different grief styles unique to her children and how family connection and open communication helped her keep them grounded and anchored in their faith in God.

In this episode:

• Emily's Story – If everything goes perfectly, will you marry me?

• Tragedy does not feel like God's plan

• New routines and how does the lawn mower work?

• Grieving as a family and helping our kids grieve well

• Finding Your Support Network and Learning how to ask for help

• New schedules, school activities, and downtime

Selected Links from his episode:

How to ask for help along with a checklist: https://www.bravewidow.com/free

Reach out for a free consultation to get your financial life in order: https://calendly.com/wisestewardshipfp/initialconsultation

Read the blog version of this episode here: https://wisestewardshipfp.com/helping-your-children-grieve-well-as-a-widow/

Join Daniel in an interview with someone who rebuilt her life and now helps others do the same. Carolyn Moor, Founder of Modern Widows Club, shares her journey as a young grieving widow and mother. After rebuilding her business, she reached out to mentor small groups of grieving widows in her home and watched them multiply into a national organization that provides support, resources, and new opportunities for widows like you.

Find links to Modern Widows Club below, and check out our growing list of resources for widow life and money at Wise Stewardship Financial Planning.

In this episode we discuss:

• A Tragic Accident

• No Longer Someone's Number 1

• Widow and Mother

• Rebuilding a Life

• Developing Leaders

• From Small Groups to a Nation-wide Movement

Selected Links from this episode:

https://modernwidowsclub.org/about/#

https://www.carolynmoor.com/

Inspire Connect Lead: Empowering Your Widow Mentoring and Leadership Gifts

https://www.amazon.com/Inspire-Connect-Lead-Empowering-Leadership/dp/B0BKMPL2S3

Join Daniel in a conversation with client and colleague Nan Maurer, who recalls the early and uncertain days of financial decisions within weeks of losing her husband. Questions about healthcare, paying for college, loss of income and the future loomed before her. She knew she needed advice and help to carry it out but had no idea how to choose a professional to help her.

In this episode, we share the five principles she wishes she had known earlier as she tried to understand the vast and varied landscape of financial services more broadly and how financial advisors work more specifically. These questions might have helped her sleep better in searching for the right financial advisor. We hope they'll help you!

Finances
In this episode, Daniel shares:

• Start with your questions
• Use the right sources to search for an advisor
  
• Understand what a fiduciary is and why you need one
  
• Find a fee-only advisor
  
• Choose a financial advisor who is the right fit for you

Selected Links from this episode:

• Find a NAPFA Advisor
• Find an XYPN Advisor
• Defining Fiduciary
• NAPFA Consumer Checklist
• Check an advisor on SEC
• FINRA Broker Check
• National Endowment for Financial Education (NEFE)
• The Committee for the Fiduciary Standard
• Contact Daniel at Wise Stewardship Financial Planning

Welcome to Widow Life and Money, where Certified Financial Planner and Financial Therapist, Daniel Kopp, discusses the intersection of widowhood, faith, and finances. His passion is helping younger widows gain clarity and confidence in their financial lives.

The acute pain of grief is the pain of a wound that we can only see through a worldview that acknowledges the problem of death in a personal way. Believers in Christ know that the Christian worldview rests on the Hope of resurrection and eternal life. What we sometimes miss is the part in between—the suffering.

There's no way around it. We can get stuck—or we can find a path through it. Scripture gives us the map. And you may be surprised by how closely the biblical worldview for death and the hope that follows tracks with a widow's life.

Understanding "worldview" and how it guides our grief journey can help us make sense of this widow life and gather strength from new resources.

In this episode, Daniel shares:

• How a Christian worldview shapes and steers the grief journey
  
  
• Questions about identity and what we believe about God
  
  
• Making sense of pain through the life of Jesus
  
  
• How the practice of lament heals the soul
  
  
• A review of six resources for healing in grief

Selected Links from this episode

A Grief Observed by C.S. Lewis

Experiencing Grief by H. Norman Wright

Heaven by Randy Alcorn

Reflections of a Grieving Spouse by H. Norman Wright

The Scars That Have Shaped Me by Vaneetha Rendall Risner

When the Darkness Will Not Lift by John Piper