Episodios

  • 133: Don't Panic, Pause: Simple Steps to Avoid Being Scammed

    133: Don't Panic, Pause: Simple Steps to Avoid Being Scammed
    Mar 30 2026

    "Scammers rely on emotion. If they can catch you in that half second of panic, then they might be able to get you to do something."

    41% of American adults have lost money to scams. And that's only those who reported it.

    Our hosts, Stephanie McCullough and Kevin Gaines, are back to talk all about money scams because the problem keeps growing, and because the scammers, as Kevin puts it, keep learning.

    The core mechanism hasn't changed either. Scams are all about manufactured panic. Whether it's a Social Security alert, a fake IRS demand, or a "computer security team" that called out of nowhere to say you've been hacked, the goal is to knock your skepticism offline before it fires. According to behavioral science, acute panic literally impairs the higher-order reasoning you'd need to catch the trick.

    The antidote is AARP's three-step model: pause, reflect, protect. The research behind it illustrates that awareness of a specific scam makes you 80% less likely to fall for it. Their free Fraud Watch Network sends alerts several times a month, and Stephanie suggests that even skimming the subject lines is protective.

    As Kevin likes to say, "Always independently verify."

    If someone sends you a phone number to call, that number is already suspect. The best long-term defense isn't paranoia but connection. That means staying in regular contact with people who aren't in panic mode when you are.

    Key Topics:

    • AARP Fraud Watch Network and the 80% Awareness Effect (04:29)
    • Why Smart People Still Get Caught (06:08)
    • The IT Support Scam (13:05)
    • IRS Impersonation and the Tax Season Warning (19:00)
    • "Pause, Reflect, Protect" in Practice: Charity Call Story (21:48)
    • Romance Scams, Friendship Scams, and the Loneliness Factor (24:53)
    • Final Tip: Make More Friends, Call Your Mother (28:51)

    Resources:

    • Take Back Retirement Ep 74: https://takebackretirement.com/podcasts/taking-charge-carol-maraks-strategy-for-solo-aging-and-retirement-planning/
    • Take Back Retirement Ep 83: https://takebackretirement.com/podcasts/combatting-fraud-and-protecting-your-financial-future-with-aarps-kathy-stokes/
    • AARP Link: https://www.aarp.org/money/scams-fraud/
    • "Pause, Reflect, Protect" Article: https://www.axios.com/local/des-moines/sponsored/train-your-brain-to-spot-scams-before-they-strike

    If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com

    You can find the transcript and more information about this episode at www.takebackretirement.com.

    Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.

    Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    33 m
  • 132: What's Your Number? (rerun)

    132: What's Your Number? (rerun)
    Mar 16 2026

    "You need to come up with your own number, not using someone else's, because your situation is going to be different from someone else... and it's going to change over time, and that's still okay."

    A lot of folks believe that there is a magic number that they need to work towards in order to be able to retire.

    There is a myth out there that there is some perfect number of dollars you need to accumulate so that you can retire. That it's really all just one mathematical equation with one distinct, perfect answer.

    …Except this belief is completely, utterly unfounded.

    Listen in as Stephanie and Kevin dismantle the notion that hitting your "magic number" is the key to your retirement success.

    They explain why coming up with a specific dollar amount for that next chapter in your life may not be as simple as you think, the psychological dangers of focusing solely on such a number, and how to really diversify your assets to maximize your freedom in your retirement years.

    Key Topics:

    • Is there really such a thing as a "magic number" to retirement? (01:46)
    • Do you really know what the next chapter of your life is going to look like? (06:01)
    • We're guessing, and that's OK! (08:07)
    • Not all dollars are created equal. (09:03)
    • Keys to diversification. (12:23)
    • Why the notion of a "magic number" is psychologically dangerous. (13:23)
    • "You don't have to have all those dollars in your hand on day one of your retirement." (14:57)
    • Why hitting a "magic number" doesn't guarantee smooth sailing in retirement. (17:45)
    • "Your money is here for a reason. Don't lose sight of the reason." (18:26)
    • Stephanie and Kevin's Wrap-Up (21:01)

    Resources Mentioned:

    • "Doom, Despair and Agony on Me"

    • Take Back Retirement Episode 7: Here's a Secret: We're Guessing, and That's OK

    If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com

    You can find the transcript and more information about this episode at www.takebackretirement.com.

    Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.

    Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    26 m
  • 131: Back to Basics: Essential First Steps to Taking Control of Your Finances (rerun)

    131: Back to Basics: Essential First Steps to Taking Control of Your Finances (rerun)
    Mar 1 2026

    "It's not about deprivation. It's about balance. It's about taking care of your today self and your future self."

    Join our hosts, Stephanie McCullough of Sofia Financial and Kevin Gaines of American Financial Management Group, as they simplify the world of financial planning, starting with understanding cash flow. They tackle how to monitor the inflow and outflow of your money, without yet worrying about its source or where it's going. Learn the importance of observing more than one month of data, as things can fluctuate from month to month.

    Stephanie and Kevin further explore the significance of setting up an emergency fund and how much cash you should ideally have available. Listen as they explain why it's essential to have a cash cushion to cover unexpected expenses. They provide insights on how to calculate the amount you should have in your emergency fund and why it may need to be increased if your future seems uncertain. Also, discover the differences between cash and investments, and why cash is best for emergencies.

    They discuss the different retirement savings and investing options available, such as 401(k)s, IRAs, and target date funds. Gain knowledge on the benefits of each, from lower costs to matching options and pre-tax savings. They also touch on setting up a regular investment account with no limits or restrictions. Their ultimate aim is to emphasize the importance of establishing an investment plan that suits you and doesn't cause unnecessary stress. This episode is your guide to making informed and confident decisions about your financial future.

    Key Topics:

    • Cash and Cash Flow (05:15)

    • Looking at the Trends (08:13)

    • How Much Cash Should I Have and Where to Put It? (10:58)

    • How to Invest More Money (20:24)

    • Don't Get Intimidated by the 1099 Form (24:15)

    • Savings vs. Investment (25:51)

    • Wrap-Up (28:23
    Más Menos
    30 m
  • 130: Planning to Age Well: Life Care, Long-term Care, and Advocacy with Laura Lynn Morrissey

    130: Planning to Age Well: Life Care, Long-term Care, and Advocacy with Laura Lynn Morrissey
    Feb 16 2026
    "A lot of women feel as though this is 'my role, this is my job, and if I have to ask for help, there's something wrong with me.' It doesn't mean failure. It just means that you're taking care of yourself as well as your loved ones." - Laura Lynn Morrissey Our hosts, Stephanie McCullough and Kevin Gaines, sit down with Laura Lynn Morrissey, founder of Silver Savvy. She brings a unique perspective, combining two decades at Fidelity Investments with hands-on experience building and selling home care companies in Boston! Laura Lynn's journey into senior care began while simultaneously climbing the corporate ladder and serving as a caregiver for her mother since age seven. Through both experiences, she learned the magic of putting clients first and treating aging individuals with dignity. She discovered that many professionals would direct conversations to family members while ignoring the person actually receiving care. That's a dynamic she intentionally reversed in her own practice. The centerpiece of her work is life care planning, a comprehensive approach treating the aging process as thoughtfully as planning a wedding or college education. This framework examines seven key areas: purposeful living, lifelong learning, social connections, healthcare planning, financial confidence, exercise routines, and home safety. Most homes aren't built for aging, and simple issues like losing ankle mobility can cascade into dangerous falls. She also talks long-term care insurance, revealing surprising complexities most policyholders don't understand. The elimination period (essentially a deductible) requires paying out-of-pocket for 30-120 days before benefits begin. It's a shock to many families expecting immediate coverage. Laura Lynn stresses the importance of honest assessments, noting that proud individuals often minimize their limitations during evaluations, potentially jeopardizing their claims. With physician shortages looming and assisted living facilities facing two-to-three-year waitlists, Laura Lynn advocates for proactive planning before emergencies strike. Her advocacy services include filing claims, coordinating with doctors, preparing clients for assessments, and writing follow-up letters clarifying what proud individuals might downplay during evaluations. Key Topics: ● Lessons from Caregiving and Home Care Business (03:25) ● What is Life Care Planning? (11:26) ● Aging in Place: Exercise and Home Safety (16:01) ● Assisted Living Realities and Wait Lists (18:21) ● Long-Term Care Insurance Misconceptions (25:51) ● Understanding the Elimination Period (29:08) ● Benefit Triggers and Activities of Daily Living (38:45) ● The Assessment Process and Advocacy Role (40:38) ● Appealing Denied Claims (46:31) ● Stephanie and Kevin's Wrap-Up (49:18) Resources: Laura Lynn Morrissey in LinkedInSilverSavvy Website If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com You can find the transcript and more information about this episode at www.takebackretirement.com. Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn. Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    56 m
  • 129: What Women Need to Know About Charitable Giving and Retirement

    129: What Women Need to Know About Charitable Giving and Retirement
    Jan 30 2026

    "There are ways to get some more net dollars to the charity, having a smaller financial impact on your own situation. It just takes a little bit of looking at [your financial situation]."

    Our hosts Stephanie McCullough of Sofia Financial and Kevin Gaines of American Financial Management Group tackle the ins-and-outs of charitable giving, and reveal how strategic planning can maximize impact while preserving your financial security. While charities treat all dollars equally (they pay zero taxes), how you give dramatically affects your bottom line!

    First up, they cover critical 2026 tax changes, including a new above-the-line deduction ($1,000 single, $2,000 married) and an unfortunate 0.5% AGI floor for itemizers.

    Donating appreciated assets (stocks or mutual funds held over a year) beats cash donations, because you avoid capital gains taxes while deducting the full current value, not just what you paid.

    Donor-advised funds emerge as timing powerhouses, letting you bunch donations in high-income years while distributing to charities over time.

    For those 70½ and older, Qualified Charitable Distributions (QCDs) from IRAs offer tax-efficient giving that doesn't count as income. That's crucial for avoiding Medicare IRMAA surcharges and Social Security taxation pitfalls. The 2026 QCD limit is $111,000 per person.

    Estate planning gets attention, too. Naming charities as IRA beneficiaries saves heirs from devastating tax bills on inherited retirement accounts. Stephanie and Kevin also offer creative strategies involving life insurance policies and charitable trusts.

    The key takeaway is the importance of consulting professionals early in the year. Tax laws change constantly, and thoughtful planning transforms charitable impulses into maximum impact without jeopardizing your retirement security.

    Key Topics:

    • New 2026 Tax Rules for Cash Donations (5:44)
    • Donating Appreciated Assets and Capital Gains (08:08)
    • Donor-Advised Funds: Timing and Flexibility (14:09)
    • Qualified Charitable Distributions (QCDs) from IRAs (18:41)
    • Estate Planning: Beneficiary Designations for Charities (26:05)
    • Creative Strategies: Life Insurance and Charitable Trusts (30:22)

    Resources:

    • Women + Roth IRA's – What Should You Be Aware Of? (episode)

    If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com

    You can find the transcript and more information about this episode at www.takebackretirement.com.

    Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.

    Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    37 m
  • 128: Scripts, Frameworks, and Real Talk: Mastering Money Conversations with Erika Wasserman

    128: Scripts, Frameworks, and Real Talk: Mastering Money Conversations with Erika Wasserman
    Jan 15 2026

    "My goal in life, my purpose in life, is to spark conversations. And in 2026, my goal is to spark 10,000 financial conversations." -Erika Wasserman

    Our hosts, Stephanie McCullough and Kevin Gaines, welcome back financial therapist Erika Wasserman to discuss her groundbreaking new book Conversations with Your Financial Therapist.

    Invited by Wiley Publishing to write about the emotional side of money, Erika created a practical guide wrapped in storytelling, featuring seven composite characters navigating real financial conversations throughout their lives.

    The heart of the book is the Money Mindset Method. It's a five-step framework using the word MONEY itself: Make the conversation comfortable (setting matters!), One question at a time (resist throwing in the kitchen sink), Nurture shared goals (understanding the "why" behind decisions), Evaluate practical solutions (brainstorm separately, then share), and Yes to compassion (for yourself and others).

    This repeatable approach gives people tools to practice at home once they've built the confidence.

    Erika emphasizes that talking about money is a skill most of us never learned. With 81% of people taught not to discuss finances (without even knowing why), we're left without the vocabulary or framework for these crucial conversations.

    Our money mindsets come from our backgrounds, religion, culture, and personal experiences, yet we merge finances with partners who have completely different histories without ever discussing them.

    The book includes incredibly practical nuggets such as actual conversation scripts for specific scenarios, visual diagrams showing different ways couples can structure their finances, and the wisdom that what works at 23 won't necessarily work at 40.

    When we normalize talking about money, we create ripple effects, modeling healthier relationships with finances for the next generation watching us!

    Key Topics
    • The Money Mindset Method Framework (07:33)
    • Make the Conversation Comfortable (13:34)
    • Using "Passwords" to Take Breaks During Hard Talks (21:36)
    • Practical Scripts for Real Conversations (24:43)
    • Visual Diagrams: Different Ways to Merge Money (27:35)
    • Where Money Mindsets Come From (30:34)
    • Kevin's and Stephanie's Wrap Up (38:49)

    Resources:

    • YourFinancialTherapist.com

    If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com

    You can find the transcript and more information about this episode at www.takebackretirement.com.

    Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn.

    Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    44 m
  • 127: Conversations That Count: Money, Values, and Clarity with Carl Richards

    127: Conversations That Count: Money, Values, and Clarity with Carl Richards
    Dec 30 2025
    "In a life well lived, there's always going to be more things you may want to do than you can do with time, energy, money, and attention." -Carl Richards Stephanie and Kevin welcome Carl Richards, creator of the iconic "Sketch Guy" column in The New York Times, for an inspiring conversation about his latest book, "Your Money: Reimagining Wealth in 101 Simple Sketches." Over 17 years in the making, this collection distills complex financial concepts into simple drawings designed to spark the conversations that truly matter! Each sketch focuses on a single idea, creating entry points for conversations that words alone can't generate. You won't get all the answers, but that's okay! The true goal is to help people start talking about money in meaningful ways. Stephanie and Kevin explore several of their favorite sketches, beginning with "The Getting Ahead Trap": a bar graph showing that money needed to "get ahead" has no top, while money needed for "having enough" is surprisingly small. Makes sense. After all, step zero of financial planning is understanding what's most important to you. Without that clarity, discussions about dollars and vehicles are pointless. Carl emphasizes that "your values are not at war, they're in conversation". That's probably his favorite line in the entire book! "None of us were really taught how to talk about money," Carl reflects, especially the deep conversations about worries and values rather than just CNBC-style market talk. The book gives us permission to be imperfect. Financial planning is educated guessing, goals are guesses, and things change. Not only is that okay, but it's reality. Carl encourages "deep hugs and big spreadsheets" when clients need certainty, while gently helping them understand that precision isn't always possible or necessary. Most importantly, money isn't just math. Algorithms can't feel anxiety about major decisions or pride in achieving goals. Human guidance remains essential, even as technology advances. Key Topics · Creating Conversation Starters, Not Answers (03:35) · The Getting Ahead Trap vs. Having Enough (05:03) · Real Financial Planning: Money Meets Life (07:27) · Values in Conversation, Not at War (09:29) · The Price of Silence About Money (12:29) · Money Isn't Just Math (15:35) · Goals Are Guesses (and That's Okay!) (21:30) · Standing Between Clients and Big Mistakes (27:24) · Stephanie and Kevin's Wrap-Up (30:32) Resources: · Carl's Weekly Newsletter, Book, and other Resources If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com You can find the transcript and more information about this episode at www.takebackretirement.com. Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn. Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    36 m
  • 126: Retiring Gen X Style: From Anxiety to Action with Kerry Hannon and Janna Herron

    126: Retiring Gen X Style: From Anxiety to Action with Kerry Hannon and Janna Herron
    Dec 15 2025
    "This is a generation that is incredibly scrappy. This is a generation that gets it done. We actually know how to find the resources when we need to." – Kerry Hannon Our hosts, Stephanie McCullough and Kevin Gaines, welcome Kerry Hannon and Janna Herron, co-authors of "Retirement Bites: A Gen X Guide to Securing Your Financial Future," for a candid conversation about why this overlooked generation faces unique retirement challenges, and why there's still plenty of time to turn things around! The timing couldn't be better. With the oldest Gen Xers turning 60 this year, this generation of approximately 64-65 million Americans born between 1965 and 1980 finds itself squeezed between caring for aging parents and supporting adult children while confronting their own retirement reality. "We were kind of the Guinea pig generation when it came to the 401(k)s," Janna explains. Gen X caught the worst of both worlds: pensions were disappearing while 401(k)s were arriving without proper education about their importance. Early contribution limits were low, automatic enrollment didn't exist, and many default investment options were conservative money markets rather than growth-oriented funds. But Kerry and Janna reject the doom-and-gloom narrative. "This is a generation that is incredibly scrappy," Kerry insists. "This is a generation that gets it done." They believe in starting with vision before worrying about numbers. If you don't know what you're saving for, it's super hard to get excited about doing it. Kerry encourages vision boards and refrigerator lists of life experiences you don't want to miss. Janna shares how she and her husband hold quarterly "financial summits" and maintain a separate savings account for their dream teardrop camper. "It's fun to look at our little savings fund and go, look how much closer we are." Retirement doesn't mean stopping work entirely, but reimagining what it means to work! Knowledge workers can transition to consulting, pursue deferred dreams, or explore new fields. The key is planning ahead and continuing to learn. Perhaps most importantly, they stress addressing health now. Retirement is the time when you can get your health together so that you have better health outcomes when you get older, and save money at the same time. Gen X's cynicism might be legendary, but channeling that scrappy, resilient spirit could be exactly what secures their financial future! Key Topics: · Why a Book for Gen X Now (1:40) · The 401(k) Guinea Pig Generation (4:39) · Home Equity as a Bright Spot (12:05) · Creating Your Retirement Vision (15:07) · Working Longer as Strategy (21:43) · AI and the Future of Work (28:29) · Finding the Right Financial Advisor (30:47) · Healthcare: The Hidden Retirement Cost (37:21) · Stephanie and Kevin's Wrap Up (38:44) Resources: · Retirement Bites: A Gen X Guide to Securing Your Financial Future (book) · Kerry Hannon (website) · Janna Herron (LinkedIn) If you like what you've been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com You can find the transcript and more information about this episode at www.takebackretirement.com. Follow Stephanie on Twitter, Facebook, YouTube and LinkedIn. Follow Kevin on Twitter, Facebook, YouTube and LinkedIn.
    Más Menos
    44 m