How to Organize Your Bill Paying and Financial Accounts 

I do not make New Year’s resolutions – if I get a good idea in September, I’ll implement it right then and there. No need to wait until the calendar says I can.

That said, there’s been something weighing on my mind for a while now that’s prompted me to begin a regular, non-New Year’s resolution: My entire family’s financial and estate financial planning is living in my head – and nowhere else.

While my husband takes care of home maintenance and other household tasks, the financial stuff has always been my area of expertise, and that’s always worked well for us. So what’s the issue?

If either of us were to be injured or otherwise incapacitated, the entire system would fall apart!

I may know how to balance a checkbook and file our taxes, but when it comes to operating the generator or starting a fire in our wood-burning stove, I’m pretty much helpless. Likewise, my husband would have a difficult time paying the household bills on time or locating contacts for our insurance policies.

So, this is the year I’m going to organize our lives, and I wanted to bring you along for the journey. While I handle the finances in my marriage, many women leave money matters up to their husbands – and are left struggling to make sense of it all after their husband passes away.

This is a common problem. Women on average have a life expectancy that is nearly five years longer than that of men. If the details of your financial situation are living in your husband’s head, then now is a good time to get them down on paper – no matter how old you are.

And that goes for single women, too. Your loved ones need to know where this information is if they have to help you.

I knew I’d need a little help getting started, so I’m turning to a book with a somewhat morbid title: “In Case You Get Hit by a Bus: How to Organize Your Life Now for When You’re Not Around Later,” by Abby Schneiderman and Adam Seifer (founders of Everplans*) with Gene Newman. I’ve found this book to be invaluable as I consider the steps I need to take to make sure I don’t leave behind a mess when I’m gone.

Get Started with Bill Paying and Financial Accounts

I’ll be starting with what I consider the most important item – bill paying and financial accounts and how to access them. After all, one of the most stressful parts of losing a spouse is making sure bills get paid on time and accounts don’t get lost. it doesn’t do any good to write important information down if others don’t know how to find it or what to do with it in your absence.

So many of my clients are facing the same situation my family is in: one spouse takes care of the bills while the other handles other parts of their lives. I have several clients I meet with without any involvement from their partner at all. In the case of a death or divorce, the surviving spouse is left without a clue, unable to access their money for weeks or even months.

Create a List of All Your Assets

The first step to organizing your assets is to take stock of what you’ve got and where it is. Most people have liquid assets, or funds that are easily accessible. This might include your checking and savings accounts at your local banks or any cash you keep on hand.

Then you have your reserve assets, the ones that would take some time and effort to retrieve (e.g., retirement accounts, real estate, life insurance policies). They’re still a part of your net worth, but you’re probably not going to be spending that money anytime soon.

Create a list of everything you own – liquid, reserve and everything in between. You can do this digitally, like in an Excel spreadsheet. If you’re more comfortable with a pen and paper, grab a legal pad.

You don’t need to include all the sensitive details like account numbers and passwords – yet. Just begin by listing the amount and where it’s kept. Remember, the goal is to make sure your family knows where to look when you’re not there to point them in the right direction.

Information to consider including in your list:

• The money amount
• Where the money is located
• A personal contact (that works at the relevant institution, like your regular banker)
• Where you’ve stored any relevant paperwork
  • This could be online, in a safe, or with another person

Don’t Forget the Paperwork

Speaking of important paperwork, you probably also have some assets that aren’t in dollar form, but also have some value. This could include the deed to your home or titles to any vehicles you own.

When creating your list of assets, make sure to include these items:

• The deed to your home
• The title to your vehicle(s)
• Court orders
• Contracts
• Certificates of authenticity
• Certificates of ownership for any valuable family heirlooms or other big-ticket items

It’s okay if you don’t know the exact value of these items, because they tend to fluctuate over time rather than maintaining a set price. The important thing is to list where your loved ones can find all the important documentation attached to each of the items.

Consider the Benefits

You may also qualify for revenue streams that your loved ones could benefit from in the event of your passing, like a pension, Social Security, disability insurance, unemployment benefits, longevity insurance or child support.

If you’re receiving or plan on collecting money from one or more of these benefits programs, you’ll want to provide some relevant details.

Be sure to include:

• Details or relevant paperwork
• How and where you get paid
• A contact familiar with your account
• Any online details they may need

If you are a veteran or active military member, you may also be due a military burialupon your passing. To help your loved ones cover burial costs and collect any other survivor benefits, make sure you include discharge papers or any other relevant military paperwork in your assets list.

Join Together with Joint Bank Accounts

After you’ve got your list of assets put together, the next step is to ensure you and your spouse are both listed on your bank accounts.

When only one of you is listed as an account holder, you risk having the account frozen upon your death, which could leave your spouse unable to access any of that money and create unnecessary complications with bill-paying after you’re gone.

Safety First

You may have heard that safe deposit boxes are a secure spot for all your important stuff. If your house burns down, you’ve still got your safe deposit box, right?

Maybe.

The reality is that safe deposit boxes aren’t protected by any federal laws – if your items are stolen or misplaced by the bank, you have no recourse for compensation.

I’m not saying you shouldn’t use a safe deposit box – they can be a great spot to keep your heirlooms, insurance policies or even things you want your family to inherit after you’re gone. However, they may not be the right place to store things you think you’ll need access to quickly in case of an emergency, like an Advanced Directive or Power of Attorney.

Most importantly, you’ll want to grant a close loved one or other trusted confidant access to your safe deposit box. Otherwise, they’ll need a court order to gain access after your passing, which can be a lengthy and cost-heavy process. Your bank should be able to assist you in naming a designated trustee or authorized user.

Grow with Gasber

Need some guidance in your financial journey? Gasber Financial Advisors, Inc. is here to help. With nearly three decades of experience in financial planning, our firm has the knowledge and expertise to set your family up for long-term success.

*Everplans is an easy-to-access, secure digital archive where you can store everything described above throughout your life. At Gasber Financial we believe so strongly in organizing that we provide all clients with access to their own Everplan account. Find out more atwww.everplans.com.

Gasber Financial is here to help you make confident decisions.

 Please call or "connect" with us at the top of the page for complimentary consultation or with any questions you may have.

How to Overcome “Bag Lady Syndrome”—a guide for women

 By Karen A. Miller, CFP®, CFPA 

You are a successful woman. But if you’re like most women, no matter how successful you are, you still have that fear in the back of your head that you may end up on the street eating cat food. Irrational or not, this fear can be overwhelming—and if you let it, can stop you from doing what you need to do to be happy and financially secure. In this issue, we’ll talk about a few ways to overcome fear in general as well as to help ensure this specific fear does not become your reality.

 Make a plan

Treat fear as a call to action

You’ve likely heard the saying that “no one plans to fail—they simply fail to plan.” This is especially true when it comes to your finances. Your fear in this instance should be your call to action. If you don’t have a plan, make one now. It’s never too late (or too early) to start planning for the future.

 And if you do have a financial plan, review it on a regular basis. This can help provide some peace of mind when you can see your progress. Gasber Financial is here to help you create and manage your financial plans so you can stay on track toward the future you desire.

 Meditate on the answer

When faced with something you fear, it’s typical to panic or freeze—as your brain works overtime running through the possibilities. As we discussed in our last blog, meditation can help you learn to let thoughts flow through your mind without reacting to them. And this, in turn, may help keep you from getting anxious or stressed about things you may fear—helping you to feel more centered, calm and present in the moment.

 Stay positive

It may sound a bit out there, but the mindfulness you hear so much about today can make a difference in all areas of your life, including your finances. Because when you change the way you think about money, you really can change the way you behave with it—and that can make all the difference in the world.

 Consider, for example, the “scarcity loop” illustrated below *. The thought that you don’t have enough money creates anxiety and stress which leads to poor decisions, like spending money to buy something you think will make you feel better, which creates the negative outcome that you have even less money than before.

 But imagine what can happen when you change the thought processes. When you start out, for example, with the idea of being grateful for the money you already have, you end up less stressed and are able to make smarter choices about your money, which can lead to you saving more money and feeling more secure.

And when you can keep this sort of positive cycle going, you can continue to improve your financial security. It may sound simple, but this can really work—and, like meditation, all it takes is practice.

Be grateful

Sometimes being positive and grateful can be as simple as remembering what you are grateful for even in negative situations. You can remind yourself of what you are grateful for—sure you’re stuck in traffic, but you’re in a warm, dry car. Sometimes simply saying the word “grateful” out loud can help you relax and stay positive.

Another idea is to remember to give yourself credit for the steps you are taking—no matter how small they may be. Every step should be acknowledged. At Gasber Financial, we believe strongly in the power of planning and positive thinking. We can help you review your plan to ensure you are on track toward the retirement of your dreams.

Women Helping Women 

You’ve heard about financial planning, but what’s so important about it? Well, a good financial plan maps out where you are, where you want to be, and becomes the roadmap that helps you get from here to there. Here are five main things to understand about financial planning. 

1. A financial plan helps you define your goals

One of the most important pieces of a financial plan is defining your long-term goals. Maybe you want to own a second home or travel the world. Maybe you want to pay for college and retire comfortably in Napa. Or perhaps you want to ensure you never have to rely on anyone else financially again. Whatever your unique goals, your financial plan should include them. 

2. A financial plan helps you reach for your goals

Any financial plan worth its salt should map out how you will achieve your goals. It will consider your current net worth, your cash flow, income sources and more. Your plan will include all of your current obligations, like mortgage and insurance, and will outline specific amounts to put aside each month toward savings, college, retirement and other specific goals.

 A financial plan can help you prepare for unexpected events

Good financial plans should include a cushion of extra funds that are set aside to help you pay for unexpected events—both good and bad. So, whether you decide to take your family on a trip to celebrate the end of quarantine, or you need to replace your roof, you’ll be prepared. 

4. A financial plan helps you stay on track toward your goals

Financial plans can help you stay on track toward your goals in multiple ways. First, they give you a framework for making decisions. For example, if you are considering a major purchase not in your plan, looking at it in the context of how it could affect your plan can be quite helpful. If it has no impact, you may decide to do it, but if it might delay your progress, you have the opportunity to weigh your decision and determine if you think the tradeoff is worth it or not. 

Second, financial plans give you a benchmark to measure against. As such, they should be reviewed regularly in order to track your progress toward your goals. In fact, sometimes, just knowing that things are being looked at regularly can motivate you to stay on the straight and narrow as well. 

5. Financial plans should evolve

A good financial plan should not be static, but a living document that evolves as your needs and life changes over time. During your regular reviews, you should be considering not only your progress and investment performance, but how your life may have changed. Perhaps you had another child or got a new job, or maybe your mother passed away. Or perhaps you’ve decided that you don’t really want that vacation home anymore, but would rather upgrade your existing home. There are any number of things that may change from year to year, so it’s important to communicate these during your review. 

When done well, with the assistance of a professional, financial planning should help you to reduce financial stress today, while helping you achieve your goals for tomorrow.

Gasber Financial is happy to create a financial plan for you or to review and update your existing financial plan in order to help ensure your future is everything you want it to be.

It’s natural to want to help people you care about—especially when they’re going through a hard time. Your friends and family are no different. When they see you going through a transition, they will naturally try to help. But it can be challenging enough to navigate these types of situations without all the different voices in your head. Here are a few ideas to help you make the best decisions for you.

1. Keep perspective

Your friends mean well and want to be helpful. However, what worked for them in a given situation may not be what will work best for you. Remember that you can listen to the advice, but you do not need to take it. Above all, trust your instincts.

2. Make a list

Sometimes it’s helpful to put the options down in black and white. Make a list of:

• Your income (salary, Social Security, alimony, interest and other income you receive on a regular basis)
• What you own (assets like your home, art, jewelry, cars)
• What you owe (liabilities like your mortgage, debt payments, utilities and more)
• The potential options you have
• The pros and cons of each course of action

Often simply seeing things in black and white will help make it clarify the right course of action for you.

3. Use the 10, 10, 10 rule

Another idea is to make consider each option from the perspective of the future using the 10, 10, 10 rule—which simply has you consider how you might feel about each option in 10 weeks, 10 months and 10 years. Consider that in 10 days you may still be wondering if you made the right decision, or may still be pinched by the financial repercussions, but what about further down the line? Looking at each time frame, ask yourself:

• What difference will this decision have made in your life?
• Will the money matter anymore (if that’s part of the issue)?
• Would you even remember this decision?
• If you don’t do it, would you wish you had?
• If you do it, will you be wondering why you were ever stressed about it?

4. Consult a professional

Sometimes the best idea is to get the advice of an objective professional that you trust. While friends and family are helpful, their advice may be driven by emotions. Your trusted advisors can help you see things more objectively and may have some potential solutions you may not even be aware of.

Gasber Financial is here to help you to make informed, thoughtful decisions through even the most stressful of life’s transitions.

Women Helping Women: Giving Thanks Safely 

As Covid-19 cases are on the rise, having a happy Thanksgiving this year may look a lot different than years past. We know that even in a crazy year like this one, there is much to be thankful for. So, we created this quick article to offer a few ideas to help you stay safe, while still having a meaningful celebration. 

If you must gather, keep it small

While Thanksgiving is traditionally a time for gathering with family and friends, the CDC is currently recommending that to be the safest, you should only celebrate with the people that you live with. 

If you have your heart set on an in-person celebration, they offer the following guidance:

• Keep the celebration to 10 people or fewer
• Eat outside if possible and, if not, try to keep doors or windows open
• Mix only with one other family
• Wear masks when not eating and try to maintain your distance
• Wash your hands often
• Avoid going in and out of the kitchen unless you are the person preparing the food
• Use paper and plastic or request guests to bring their own
• Have only one person serving all the food
• And you can even consider having guests bring their own food 

Zoom with your loved ones

You could also set up a Zoom to celebrate with your family and friends. You can even make it fun by creating one menu with recipes from each family, so you’re all enjoying the same foods at the same times. Even through social distance, you can still go around the tables and say what you’re thankful for or play other games together too. 

Start a new tradition

Another idea may be to start a new Thanksgiving tradition this year. If it’s just going to be you and your nuclear family, for example, maybe you want to splurge a little. You could consider eating out if there’s a restaurant you feel comfortable with. Or you could consider ordering the whole dinner in from a restaurant, caterer or somewhere like Whole Foods. This may feel a bit odd, but can be a good way to relax and truly enjoy this holiday in a new way. 

We know that these ideas may not sound like as much fun as a typical year, but they’re designed to help you stay safe—because the health of you and those you love, is one of the most important things to be thankful for. 

At Gasber Financial, we are thankful for clients like you and hope that however you decide to celebrate, you will stay safe and healthy. Happy Thanksgiving.

Good Finance Starts at Home 

Determining how to talk to your kids about money and values can be stressful. But the truth is that there’s never been a better time to teach your kids about money, the importance of savings and the difference between needs and wants. Consider that, even during a global pandemic, kids are likely to ask for things they don’t need, like new toys or clothes, takeout food and more. And while buying some of these things may make it easier to have them home for an extended period (games, puzzles and crafts anyone?), it’s a good time to try to get them to understand the difference between wants and needs. 

Wants vs. needs

There truly isn’t a person on earth who won’t be affected by this virus from a personal, economic or other basis. Explain to your kids that you need to pay for your basic needs first. And these are:

• Shelter
• Utilities
• Food

That’s not to say that you shouldn’t get them clothes or candy or whatever they ask for, it’s simply a way for them to start to understand that you have choices and responsibilities. And that your needs come first before paying for wants.

 Providing an allowance

Another way to help your kids understand the value of money is to give them an allowance. Whether or not you tie the allowance to chores or simply give it as a matter of course, it can be a really good tool. 

1. Determine how much you are comfortable giving them each week.
2. Explain to them what their allowance is meant to pay for—snacks, hanging out with friends, toys and shoes they want, but don’t need, etc.
3. If you want to earmark part of the money for savings or charity, let them know that up front and consider letting them select the charity, as it will be more meaningful to them then.
4. The next time they ask for something, have them calculate how many weeks it will take them to save for it. This helps them:
   1. Understand just how expensive it really is
   2. gain math and budgeting skills
   3. make better decisions about what is and isn’t worth the money 

You’ll invariably discovery that they’re far more willing to spend your money than they are to spend their money. But you don’t need to worry that they will spend it all. While some might, others are quite excited to see their savings grow (a friend of mine has one who  saves ALL his spending money so he can always have more than his brothers).

When in doubt

It can be just as easy for kids to get overwhelmed about money decisions as it is for adults. One idea to reduce stress is to tell them to think about it from the perspective of the future using the 10, 10, 10 rule, imagining how they will feel about this decision in 10 minutes, 10 days or 10 weeks (you can do weeks, months or years too). While a child may be more upset in 10 minutes about not getting that ice cream, for example, will they even remember it in 10 days? Probably not. Looking at each time frame, ask them:

• Will the money matter anymore?
• Would you even remember this decision?
• If you didn’t do it, would you wish you had made that choice?
• If you did do it, will you be wondering why you were ever stressed about it?  

Gasber Financial is happy to help you teach your kids about savings, investing, responsible use of credit, and more.

 Three ways to make this year’s holiday even warmer 

The holidays are supposed to be about family, friends, spending time together, being of good cheer and probably a bit of religion thrown in as well. We’re supposed to be merry and maybe smile a little bigger and spread our love. I’m not quite sure when it became about spending the most on gifts or decorating our homes to within an inch of our lives (think I’m kidding? Just google “extreme Christmas decorations”).  

I admit that this is an unusual year, so we likely not only need more holiday cheer, but may need some new ways to find it, since we may not be able to have the traditional parties and gatherings. Here are a few ideas.  

Decorations

I confess that I haven’t begun to decorate yet, but I feel uplifted seeing lights on my neighbors’ trees and displays in their yards. And, if that gives you pleasure, then by all means go for it. Just make sure you aren’t going into debt or sacrificing your other goals to buy the trimmings or lights. You don’t want those good feelings to go away when that January power bill arrives.  

Gifts

Consider setting a budget for what you want to spend on gifts. You could even set a budget that includes everything you want to spend on gifts, decorations and food during the holidays and begin saving for it in January, depositing 1/12 of the total into the holiday account each month. Then when December rolls around, you’ll be golden.  

And even though it’s too late to do that for this year, it’s not too late to set budgets overall or for each member of your family. Parents often want to give their kids the world—and likely, especially in a year like this where you feel they’ve lost far more than they’ve gained. However, it’s still a good idea to put a limit on things or at least go in with a budget in mind to help you keep things from getting too out of control.  

Giving

Another idea that can help warm your heart this year is to give a little more. There are more people in need this year than ever before. And even though you won’t see Santa on every corner, there are many ways to give. Did you know that in 2012, the National Day of Giving, or Giving Tuesday, was created as an antidote to the commercialism from Black Friday and Cyber Monday? It’s true. But we shouldn’t need just one day to give. We should be making a plan to give to the causes that matter most to you throughout the year.  

Try to determine which organizations you want to help and how much you feel comfortable giving and then stick to it. Don’t be swayed by those sad puppy-dog eyes in the ASPCA commercials and go over-budget (guilty as charged!). If you’re not sure where to give, check out www.Charitynavigator.org—an independent non-profit organization that helps you evaluate the choices and determine the best places for you to give.  

Gasber Financial is here to help you make confident decisions.

We’d be happy to help you budget for the holidays, for giving throughout the year, and more.

Please call or "connect" with us at the top of the page for more information or with any questions you may have.

Women Helping Women

Honoring Women’s History Month 

In honor of women’s history month and International Women’s Day, we wanted to celebrate some of the strides women have made over the past several decades. Although we’re still waiting for equal representation in government (among other things), women have done some pretty amazing things. And one of the first is that we earn more college degrees than men—60% of all degrees in the U.S. in fact.¹ 

Bringing home the bacon 

We’re still waiting for equal pay, but we’ve been making strides at work, earning higher salaries and better positions than they have in the past.

• In the U.S., more than 25% of married, heterosexual women earn more than their husbands. ²
• As of June 1, 2019, 33 of the Fortune 500 companies are led by women. While that’s still a small percentage, it represents a significant step forward and a nearly 30% increase from the previous year. ³ 
• As of 2019, women now hold more than 20% of board positions in the top 3,000 publicly traded companies. ⁴

Taking care of business

 Women also tend to make great business owners—employing millions of Americans and generating more revenue by far.

• Women own 40% of U.S. businesses (that’s 12.3 million)—and they generate nearly $2 trillion a year in revenue⁵
• Between 1997 and 2017, the number of women-owned businesses in the U.S. increased by114%, while the growth rate for all companies was 44%.⁶
• As of 2018, women-owned businesses were responsible for the employment of 9.2 million Americans. What’s more, although employment for all firms declined by 0.8% between 2007 and 2018, it rose by 21% for women-owned firms. ⁶
• Women-owned businesses tend to deliver more than double the revenue of companies established by men. ⁵

 Financially independent 

And according to Suze Orman, women are more financially independent than men for a number of reasons as well, including:

• Single women spend less than single men, as they focus more on day-to-day expenses and more aggressively paying down debt⁷
• Women know they have to work harder because of the pay gap—so they do⁷
• Women try to take the right risks⁷ 

Women have done a number of other amazing things, including inventing white out, disposable diapers and the dishwasher.¹ Gasber Financial is proud to help wonderful women like you to achieve and maintain their financial independence, enabling you to plan for the future of your dreams.

¹https://nationaltoday.com/international-womens-day/

²https://www.forbes.com/sites/biancabarratt/2019/09/24/becoming-the-primary-earner-female-breadwinners-share-their-advice/#4c8956ee5910

³https://fortune.com/2019/05/16/fortune-500-female-ceos/

⁴ https://www.bizjournals.com/bizwomen/news/latest-news/2019/09/womens-representation-on-boards-reaches-a.html?page=all

⁵ https://www.fundera.com/resources/women-owned-business-statistics

⁶https://medium.com/small-business-big-world/celebrating-achievements-of-women-business-owners-and-entrepreneurs-942aeb35367c

⁷https://www.hermoney.com/earn/careers/women-more-financially-independent-than-men/

How to Avoid Being Scammed  a Guide for Women - pt 1 

There is no end to the number of ways criminals will try to part you from your money. And while most of us would like to believe that it can’t happen to us, it can. From doctors and lawyers to Wall Street legends, extremely wealthy businessmen and even famed conmen, anyone at any age can be scammed under the right circumstances.

One type of scam that is growing in popularity, and is particularly useful on women, is the romance scam. According to the Federal Trade Commission, victims reported losing more than $210 million in 2019* to these types of scams. In fact, the FTC says these types of scams result in more losses than any other types of scams. 

Here’s how it can work:

1. You meet someone online through a dating site
2. You start texting and maybe talking over the phone, but there is always a reason why they cannot meet you in person and may not even be able to FaceTime with you
3. They tell you they love you and you are the one for them—they may even talk of marriage. BUT, they can’t marry you, be with you, or meet you live until they do something else that requires money [need to pay off a debt/start a new business/finish a new investment]
4. It’s all very convincing—they want to live with you/marry you/be with you after all, so perhaps you send them the money
5. Some of them may keep you on the line, trying to get more and more money from you, while others may immediately ghost you and delete their accounts. Either way, no relationship will ever truly come from it and you will not get your money back. 

Too good to be true?

Another, newer romance scam revolves around sites designed to help you find or become a sugar daddy or momma. Perhaps you’re thinking, how will I get scammed if they’re going to be paying my bills? But that’s precisely how they get you: 

1. You develop a relationship with someone online and either they agree to pay your bills or to pay you for your company.
2. Naturally, they will ask for the credit card information in order to pay it off or they’ll ask for your banking information in order to make a deposit into your account.
3. Once they have this information, they can access your credit and bank accounts at will. 

It’s worth noting that this type of scam can work even if you are the one willing to pay the bills. The other party may simply say they need your banking information in order to let the credit card company, or whomever it is, know where the payment or deposit will be coming from.

 Helpful tips

In order to try to avoid falling prey to these and other scams, here are some tips that may be helpful.

1. Always be cautious about people you meet online, trust your instincts and take it slow
2. Never give your financial information to anyone you have not met face to face
3. Report anyone you meet online who asks you to send them money to the appropriate site’s administrators

Gasber Financial is dedicated to helping you keep your assets safe. In our next installment, we’ll discuss other popular scams and tips for avoiding them.

*https://www.nbcnews.com/better/lifestyle/looking-love-online-romance-scammers-steal-your-heart-steal-your-ncna1135766

How to Avoid Being Scammed  a Guide for Women pt 2

As we discussed in the previous installment, criminals are endlessly inventing new ways to part you from your money. And they do not discriminate based on age, gender or social status. Jeff Bezos, founder of Amazon, was recently scammed. And I personally know of a Wall Street legend who was also recently scammed. 

Scammers are cunning and they have ruthlessly developed formulas for scamming because they work. 

The random call scam

Scammers use random calls because they work. They can spoof the number of the FBI, IRS, your local police station and others. Perhaps you answer and they tell you that your child or grandchild was in an accident or committed a crime (or they claim to be that child). They tell you that you need to send money for bail or for the hospital. They may know your child’s name, their girlfriend and a lot of other information because they can find it on your social media. And this type of thing happens every single day. 

There was a recent story in the Wall Street Journal about a nurse who was scammed out of $340,000. This is basically what happened.

• She received a call from someone identifying himself as an “FBI” agent.
• He told her that her identity had been stolen and used to commit crimes. He told her that if she didn’t do exactly as he said, files would be charged against her and she would go to jail.
• He told her to leave work and go to a hotel. He told her to send him her receipts for the hotel and food, as they would be reimbursed by the government.
• He kept her on the phone for hours at a time and told her if she let her family or friends know what was going on, she might be guilty of another crime.
• He said she needed to move her assets to “FBI” accounts in order to protect them from the identity thieves.
• Over the course of a few days, she transferred more than $340,000 from her accounts to the “agent.” 

In general, these types of scams play upon your fears and make you afraid not to comply. And while banks, especially those holding retirement accounts, typically ask a number of questions to try to determine if something fraudulent is going on, these callers know how to coach you through answering those questions.  

In another recent scam, a woman received a phone call from someone saying they had her daughter and that if she hung up, the daughter would be killed. The caller kept her on the phone for hours going from bank to bank and sending money, until a few hours later her daughter texted her about something and she realized the caller was a scammer. Of course, by then it was too late. 

The business email scams

In these types of scams, the perpetrators “spoof” an email address that you recognize, so you receive an email that you think is from your boss, another company executive, or some other important person asking you to do something that may or may not be out of the ordinary.

One woman received an email she thought was from her boss asking her to buy gift cards for everyone in the company as Christmas gifts. The email told her to send the gift card numbers and pins to the boss when the task was complete. She did so and the scammers got away with more than $10,000. And the worst part is that her company is saying she’s liable for the loss, as she put it on a corporate card. 

In a similar incident, a Wall Street Legend’s employee received an email he thought was from the boss’s wife asking for a significant wire transfer to an art dealer’s account in order to buy her husband a painting for his upcoming birthday. Naturally, she asked for the information to be kept secret. In this instance, the “wife” actually emailed a few times to say the transfer hadn’t come through and could it be sent again either way, as she had now found a more expensive painting to buy. These scammers got away with more than $300,000. 

Helpful tips

In order to try to avoid falling prey to these and other scams, here are some tips that may be helpful.

1. Remember that the FBI and police will generally not call you. They will come to your home or place of business.
2. Do not stay on the phone for an extended amount of time. Ask for a number where you can call the person back and then try to verify if what they are saying is true (call the FBI or your daughter).
3. Do not underestimate the amount of detailed information scammers may have.
4. Check to make sure any email with instructions about money is truly coming from the person you think it is from. Double check the address or call them/email them from a new email to be sure it’s legitimate.
5. Verbally or in person confirm instructions given by a boss, vendor or someone else with regard to money, property or payments. 

Gasber Financial is dedicated to helping you keep your assets safe. You can always call us with any suspicions you may have. In our next installment, we’ll discuss tax and investment scams and tips for avoiding them.

How to Avoid Being Scammed a Guide for Women pt 3 

As we’ve discussed, scams are not limited to robocalls and emails. Scammers can pose as romantic partners, as IRS agents and even as investment opportunities. 

A taxing situation

A growing type of scam involves your identity and your taxes. Each year, the IRS is reporting an increased number of cases where someone steals an identity and then files a fraudulent tax return. Why would they do this? In order to claim a “refund,” which they request to be deposited onto a debit card. 

The government is pretty good at spotting this, but it can mess with your taxes and cause other challenges as well. And the only way to truly protect yourself is to keep as much of your personal information, passwords, and other information private as possible. 

There are other tax scams where the “IRS” calls you and tells you that you owe them money and if you do not pay it immediately, you will go to jail. But the IRS does not contact people in this way. 

Stressful times call for scams

Tax time isn’t the only stressful time of year that can lead to scams. In fact, there are a growing number of scams targeted around global crises. 

For example, currently there are some “pump and dump” scams related to the corona virus. Here’s how they may work:

1. The scammers pick a small or very small stock, that may or may not be a healthcare company, and they buy a lot of shares while the price is extremely low.
2. They begin circulating rumors that this company has a “cure” for the virus and that it’s just a matter of time before it’s made available. This information goes “viral” for lack of a better word.
   1. They choose small companies because less information is publicly known about them and that can make it hard to determine whether or not rumors are true.
3. Investors buy the stock in order to take advantage of this amazing opportunity and drive the stock price up.
4. The scammers dump their shares at the increased price before the public can realize that the information isn’t true.
5. Investors often lose money as the stock drops back to its original value or below. 

Helpful tips

When it comes to the IRS, remember that they will never:

• Initiate contact with taxpayers by email, text or social media to request personal or financial information
• Call taxpayers with threats of lawsuits or arrests
• Call, email or text to request taxpayers’ Identity Protection PINs* 

Additionally, you should never give your birthdate AND place of birth over the phone, text or email. This is 98% of what scammers need to steal your identity. 

And when it comes to investment opportunities, remember that Gasber Financial is here to help you analyze—and get advice on—any investment opportunity you may be considering.

Women helping women 

COVID-19 has changed a lot of things in our lives—and the lives of our loved ones. And though there is hope now that vaccines will be ready soon, it will still be a while before they are widely available. So, while you need to be prepared to spend some more time caring for yourself and the loved ones in your house, you may also want to continue supporting parents or other elderly loved ones who don’t live with you. Here are a few ways you can do that. 

Help them stay social and active

If they aren’t already familiar with FaceTime, Zoom or any other video calling apps, try to teach them. It’s easy to teach even over the phone. Once they’ve mastered this, it can be a lot easier to keep them social. You can:

• Host game nights or happy hours with family on a regular basis
• Encourage them to sign up for online support groups
• Help them find an online class they’d like to do

You can also go old school and have your family and friends send them cards, letters and pictures once in a while. You can also consider giving them a project to do. Many of the sip and paint places have created painting from home kits where they send the materials and then you attend the Zoom class at a specific time. There are also a number of places creating things like chunky knit blanket kits and classes if dexterity is an issue. 

Make sure they have the care they need

If you cannot be there to help them, there are a number of ways you can still provide care. You can:

• Hire someone to check on them or to provide nursing assistance if needed
• Schedule regular grocery, pharmacy, and household good deliveries
• If they’re not feeling well, encourage them to call their doctor and, if needed, send an Uber to help them get where they may need to go

And if you are able to visit them, wear a mask—for their protection and yours—and consider staying at a hotel. If that’s not possible, just try to be as safe as possible. 

Gasber Financial is here to help you make confident decisions during even the most stressful of life’s transitions. Please call for more information or with any questions you may have.

What to Make of Recent Market Hype

Women Helping Women  

There’s little doubt that the markets of 2020 acted in some surprising ways, but that was nothing compared to what happened in the markets during the week of January 25^th. Whether you invested in it or not, you likely heard about how a group of investors on Reddit drove up the stock price of GameStop from around $39/share on January 20^th to a high of $483 on January 28^th. 

So, the questions are what happened and what should we do the next time it happens/how much attention should we give to this type of hype event? 

The short (and long) story

You may already understand what selling short is, but in case you don’t or don’t remember, here’s a refresher. Short selling is when you borrow shares of a stock that you think will go down in price in order to sell it now, with the plan being to buy it back when the shares decrease so you can return the stock you borrowed and profit from the difference. For example, you sell XYZ stock at $100 and it goes down to $50, you buy it and return the shares, keeping the $50/share difference in price. 

The challenge is that if the price increases, you can lose a lot of money. If the shares of XYZ rise to $150, for example, you’re losing $50/share when you have to replace the shares. 

A number of hedge funds had taken significant short positions in GameStop because the stock had been trading under $20 for the better part of 3+ years, so when it went to around $40, they believed it would go down. The group on Reddit could accomplish two things by purchasing the stock en masse:

• They could start driving the stock price up so they could profit significantly in a short amount of time
• They could cause significant losses for the hedge funds—who drove the stock up further as they frantically tried to buy back the stock to limit their losses (it’s estimated that this cost hedge funds $5 billion)
• They could make a political statement about Wall Street institutions 

There were a number of other issues you may have heard about including how RobinHood, a popular investing technology for independent investors, paused trading a few times. Contrary to popular belief, it wasn’t that they were bowing to pressure from Wall Street, but were trying to meet regulations for deposits on hand and to reduce their own exposure (risk) to the stock. You can learn more about the whole thing from this informative video by the 401KLADY. 

What’s next?

While there currently aren’t regulations to stop this type of investment hyping from happening again, there likely will be in the future. But for now, you may be wondering if you should try to jump in on something like this the next time it happens. To answer that, consider the following: 

1. We heard a lot about how individuals profited insanely in a short amount of time, but lots of investors lost money too. While the stock is still far above the long-term average (as of February 10^th, it was between $50-$60/share), lots of investors who jumped on the bandwagon at $120, $200, $300 and more have now lost significant value per share.
2. When it comes to investing, you should keep a focus on the long-term. Trying to manage a portfolio by riding these types of waves will be incredibly challenging and more than a little bit painful.
3. Research has proven that, for most of us, by the time we hear about something like this, it’s already too late to benefit. 

Gasber Financial is here to help you simplify the markets and your finances. We’re happy to help you with any questions you may have about this or other events.

Retirement Income Planning—A Guide for Women

By Karen A. Miller, CFP®, CFPA

If you’re like most people, you’ve spent far more time saving for retirement than actually planning for living in it. But regardless of how far away your retirement may or may not be, it’s critical to create a plan for generating retirement income.

There are actually many pieces of the retirement income pie—it’s typically a 3-legged stool that includes savings, social security and any pension or retirement plan assets. And, while there are a number of things for any woman to consider, there may be extra considerations for divorced and widowed women. In this first installment of our retirement income series, we’ll review some of the things all women need to consider when planning for retirement income.

Social Security

Social Security wasn’t designed to replace income, but to help supplement other retirement assets. You can find out what your own benefits might be by visiting ssa.gov. Here are some other things you should know:

It’s also worth noting that you can work while claiming Social Security, but doing so can impact your benefits and your taxes. There may be other considerations and you should consult your tax advisor for more information.

401(k) and IRAs

Retirement assets are generally available to you at age 59 ½ without a penalty. With tax-deferred accounts, however, you will be subject to ordinary income taxes when you withdraw them. You do not have to withdraw these assets until you reach age 70 ½.

Pensions

Whether you have a pension, your spouse has a pension, your ex has a pension that is part of your divorce agreement, or even if your deceased spouse had a pension, there are things you need to know before you begin collecting it:

• Payout decisions made at the time of retirement can impact the payouts forever, even after death. So, make sure you understand the payout definitions completely before you make your choices.
• Typically, you can begin collecting these benefits at age 65, but some plans may enable you to begin collecting benefits as early as age 55.
• The rules regarding divorced spouses and pensions vary widely from state to state and from retirement plan to retirement plan. Some city, state, county and town retirement plans won’t pay benefits to former spouses.
• Consult your lawyer for more information.

Divorce and estate planning attorneys can provide more comprehensive legal information andGasber Financial can help you with your retirement income plans.

In our next installment, we’ll discuss some of the costs you need to consider and mistakes to avoid as you make your retirement income plans.

Retirement Income Planning

A Guide for Women—part 2

By Karen A. Miller, CFP®, CFPA

As we discussed in part 1 of this series, there are actually many pieces of the retirement income pie, including savings, social security and any pension or retirement plan assets. And, there are many other considerations as well. In this installment, we’ll review some of the costs you need to consider and mistakes to avoid as you make your retirement income plans.

Common mistakes

One of the most common mistakes for divorced women is overestimating the value—and duration—of alimony. If you remarry, alimony ends. And, while some women have their entire support categorized as child or family support in order to avoid that potentiality, this type of support likely ends when your youngest reaches the age of majority.

Another common mistake is to underestimate the impact of taxes. The truth is that even in retirement, you will most likely still have to pay taxes. And if you are divorced or widowed, you may be in a higher tax bracket than you anticipated.

Costs to consider

When it comes to costs, one of the most significant expenditures you will need to consider is healthcare. According to estimates, a 65-year old couple with life expectancies of 87 and 89, respectively, is expected to spend more than $400,000 on healthcare in retirement. This estimate is, of course, just an estimate—and an average one at that—it includes Medicare, supplemental insurance and dental insurance.¹ Medicare is a complicated topic that we will go into in another installment (for now, just know that you have to elect it at age 65 if you ever want the ability to use it).

It’s worth noting that your costs could be well above or below this number. For now, however, this estimate is presented to provide an idea of how significant this expense can be in order to drive home the point that healthcare should be a line item in your income planning.

Helpful tips—make a plan

• Your tax situation should be part of your investment and income planning.
• Healthcare should be a line item in your planning now and in your retirement budget later. This AARP calculator can help you estimate realistic potential costs for you.

Tax, divorce and estate planning experts can provide more holistic legal guidance and Gasber Financial can help you develop a comprehensive retirement income plan.

¹http://www.hvsfinancial.com/2017/06/12/2017-retirement-health-care-costs-data-report/

Staying Healthy to Stay Happy

A Guide for Women

Happiness, health and wealth are interrelated. So regardless of how healthy your finances are today, if you are not healthy and do not stay that way, you could end up being unhappy in retirement (and your finances could suffer too).

But have no fear, there are a number of things you can do to that can improve your health—and you can start right away.

 The basics

It starts with the basics. Yes, this seems obvious, but many women (and men) overlook these things or push them off until finally it’s too late:

•  Have your annual physical—this can help keep you healthy and identify if there is anything going on you should be concerned about.
• Have your pap smear, breast exam and colonoscopy annually—these types of exams are critical to finding cancer or other diseases early.
• Visit the dentist twice a year (at least)—did you know that gum health is related to heart health? There’s even new evidence suggesting oral health is related to things like dementia and Alzheimer’s.

Take heart

Did you know that heart disease is the leading killer of women? It’s true. And even if you’ve never had a problem (that you’re aware of) with your heart, you need to be sure to be taking care of it. That includes:

• Eating healthy, regular meals
• Maintaining a healthy weight
• Exercising regularly
• Reducing stress
• And more

 Some of these items may be easier said than done, but there is one that can help you to achieve many of the others—exercising. Regular exercise can help you lose or maintain weight and can help you reduce stress, while keeping your heart strong. And exercise doesn’t have to be something you dread—it can be fun. It’s also a good idea to wear workout clothes that you actually like. Baggy t-shirts and ripped sweats may be comfy, but they may not be flattering and definitely don’t motivate you. And make sure the clothes fit too—there is nothing worse than trying to adjust your clothing while in a “down dog”. Trust me, I know.

Get moving

Exercise can be as simple as taking a daily walk or as strenuous as running a marathon. The key is to find something you enjoy and have fun with it:

•  You can meet a friend and go for a walk or a bike ride.
• You can get a group of women together to train for a 5k.
• You can take yoga classes, boxing classes, spin classes or any number of things to get started.

There are also many services that let you stream workouts right at home to your smart TV, computer or phone whenever and wherever you are, like Beach Body, Daily Burn, Aaptiv and many others. And, of course, you can always hire a personal trainer.

It can be a great idea to simply try different things and mix it up, so you don’t get bored or frustrated. But the key is to just get started—every small step can make a big difference in your health today and your happiness tomorrow.

While some workouts are free, others can cost a pretty penny. Gasber Financial can help you determine how to fit these types of programs into your finances. In the next installment, we’ll discuss some ideas for taking care of your mental and emotional health.

Staying Healthy to Stay Happy

A Guide for Women 

In the first installment, we discussed some ways to get and stay physically healthy—which is critical to being happy today and in retirement. But to be truly happy, you also need to be taking care of your mental health. And this is something women often overlook. We think, “I had my physical. I’m practicing self-care.” But the truth is that if you’re not focused on your mental health as well, you’re not really taking care of yourself.

We’ve gathered a few simple, but powerful ways to start taking care of your mental health.

 Embrace the joy of missing out

You’ve most likely heard people talking about FOMO, or the fear of missing out. It’s a very real thing that can cause high stress and anxiety. Did you know, however, that there is power in choosing to miss out on things? Scientists have proven that empowering yourself to find the joy in missing out (JOMO) can help you become a much happier person. Here are some simple ways to find your own JOMO:

•  Take a tech detox—leave your tech at home when you go on a date or when you’re on vacation or simply put it down for a set number of hours per day. Try a “screenless Saturday.”
• Disconnect—take a break from social media for a few days or a week
• Reflect—set aside time to do nothing
• Reconnect—with the people you care about live or over the phone
• Say no—to parties or events that feel more like obligations, rather than something you’ll truly enjoy

You can find books on JOMO on amazon, can subscribe to the JOMOcast podcast here, and can find countless other tools and articles online.

 Meditate

You may be thinking, “Nope. Not for me,” but hear me out. There have been numerous studies on the benefits of meditation and it doesn’t have to be complicated or take a long time. There are countless books, audio recordings and apps (Mindfulness, Calm and Headspace to name a few) that can help you become a master of meditation. But here are a few tips you can use to get started right now: 

• Step 1: Close your eyes and focus on your breathing (some count their breaths to 10 and start over)
• Step 2: Try to acknowledge the thoughts you have as they come, but to let them go, rather than going down any particular rabbit hole
• Step 3: Don’t judge—if you can’t relax or feel like it’s not working, simply try again later or tomorrow 

Even just a few minutes each day can help you feel more relaxed, less anxious and happier. 

Don’t be afraid to ask for help

While many believe that asking for help is a sign of weakness, I believe it is a sign of strength. And the truth is that everyone, regardless of how healthy they are, can benefit from a person or people who can listen to what they have to say without judgement. There are a number of ways you can get the support you need, including: 

• Talking to a friend—never underestimate the power of confiding in a girlfriend
• Traditional therapy—sometimes we need or want a professional to help us
• Group therapy or group coaching—realizing that we are not alone in our experiences or what we think and feel (sometimes being a mom/wife/entrepreneur sucks) can be one of the most powerful realizations you can have 

Any and all of these outlets can help us to understand that it’s okay to feel how we feel, that we are more powerful and capable than we realize, and that we are not alone. And these ideas are critical to helping us become happier and stronger mentally—today and during retirement.

 Gasber Financial can help you make sure that your finances are staying healthy and that you are on track toward your retirement goals.

How to Remove the Embarrassing Stuff Before it’s Too Late 

Some things you just want to stay private forever, like your internet history or those weird letters from your ex-lover. No one wants their peaceful haunting interrupted by the mortifying moment your child decides to read your diary.

If you’ve been following my blog, you know that this is the year I’m organizing my life, with a little help from my guidebook: 

“In Case You Get Hit by a Bus: How to Organize Your Life Now for When You’re Not Around Later,” by Abby Schneiderman and Adam Seifer (founders of Everplans*) with Gene Newman.

Today, we’re exploring some of the final nuggets of wisdom this book has to offer: cleaning out those embarrassing (or even damaging) skeletons in your closet. 

6 Steps to Clean the Skeletons from Your Closet Before You Die

You don’t want your grandkids to stumble across your embarrassing skeletons, or find out any secret health issues you’d rather take to the grave. 

These six steps, inspired from our guidebook, will help ensure you’ve removed anything you’d like to stay hidden – let’s get started. 

1. Throw Things Away

The first step is to remove anything from your home that you no longer need and don’t want to leave to anyone else to clear out. Get rid of as much as possible while you’re still here to do it. 

Now is a great time to dive into your storage and start sorting. Check out your closets, garage, basement, attic or wherever else you’ve been keeping stuff over the years. If you find anything you’d rather part with now than leave for your loved ones to find, toss it out. 

2. Appoint a Cleaner

Another great idea is to leave a provision in your will stating exactly who you would like to take care of your personal belongings after you’re gone. This could be a close friend or even a professional cleaning service. This way, you can limit the embarrassment to a single person rather than leave it up to fate. 

You’ll need to leave detailed instructions for your appointed cleaner, which you can base off this list. Remember to add a thank-you as well! 

3. Go Through the Embarrassing and Illegal Stuff

After you’ve passed, your appointed cleaner will need to get rid of anything embarrassing. Make a list of stuff that you wouldn’t leave in plain sight at Thanksgiving dinner, as well as where your person can find each item. 

If you have any drugs, weapons, dangerous items or illegal activities you want to stay secret, make note of those now as well. 

4. Don’t Forget Your Digital History

One often-overlooked area to wipe clean is your digital history. This could mean tablets, computers, laptops, phones and digital cameras. Your cleaner should have access to all your login information so they can clear your search history as well as delete any cookies. You may also want them to delete your hard drive to ensure any private files saved to your device are cleared. 

Don’t forget about any digital receipts or footprints that may be lurking in your email account as well.

Give clear guidance here on what your cleaner should and shouldn’t delete: you want that adult material gone, but maybe not last year’s Christmas photos.

5. If All Else Fails, Start Smashing

If for some reason your cleaner runs into trouble or you have doubts about their ability to find and delete the proper items, leave a back-up provision. If no one is going to use your computer anymore, you can always just smash the machine and throw it away. 

It may not be the most eco-friendly, but it is effective.

6. Cancel Memberships

Your cleaner can also use this opportunity to cancel any memberships or subscriptions you wouldn’t like popping up on your credit card statement. 

Likewise, if you have any organizations that reach out to you via mail or phone, you can also request that your cleaner call and cancel those. 

A Bonus Resource

If you want to be extra-secure in cleaning out your skeletons, I’ve got another book that can help you dive deeper into after-death organization. 

The Gentle Art of Swedish Death Cleaning: How to Free Yourself and Your Family from a Lifetime of Clutter, written by Margareta Magnusson, details the Swedish practice of clearing out your life and home before and after death. 

Get Your Life Together with Gasber

Ready to start clearing out the skeletons in your closet?

Gasber Financial is here to help you make confident decisions.

 Please call or "connect" with us at the top of the page for more information or with any questions you may have.

Social Security—A Guide for Women, part 1

By Karen A. Miller, CFP®, CFPA

Social Security is an important, but often misunderstood retirement benefit—and one that may require planning on your part. You do have some choices to make, but you don’t have to make them alone. Gasber Financial is here to help you.

First things first

There are a few basics you should understand about how Social Security works. In general:

• You can claim your benefits as early as age 62. However, since this is before your Full Retirement Age (FRA) (see the chart below), your benefits would be permanently reduced by about 25%.
• Your full benefit is available to you at your FRA (see below).
• If you wait until age 70, you can grow your individual benefit by as much as 24-32%.

You can get an estimate of your individual benefits at https://www.ssa.gov/planners/benefitcalculators.html.

Deciding when to elect, however, may not simply be about the size of your monthly benefit. Three of the most critical things to consider include:

• Life expectancy
• Working income
• Marital status

Life expectancy

No one can tell you your exact life expectancy, but it can be important to think about when it comes to Social Security. Did you know that a woman reaching age 65 today, has an average life expectancy of 86.6 years?* That’s the average, which means many will live longer. But why does it matter?

In theory, you should receive the same lifetime amount of Social Security regardless of whether you claim early, on time, or late (because you claim less for more years or more for fewer years). In reality, however, it doesn’t always work this way. In this example, Julie has a full benefit of $2000 and an FRA of 66. Look at the difference claiming early, on time or late can make in her benefits over time.

If we continued this example through the average life expectancy of 86.6, the differences would be even greater. Of course, there is no crystal ball to tell you your life expectancy, but family and individual health histories can be used to try to make an educated guess at what yours may be.

We’ll discuss how working income and marital status can impact your benefits in our next installment. For now, you should know that Gasber Financial is here to help you navigate your Social Security choices so you can create a trulycomprehensive retirement income plan.

*https://www.ssa.gov/planners/lifeexpectancy.html

Social Security—a Guide for Women, part 2

By Karen A. Miller, CFP®, CFPA

As we discussed in part 1, Social Security is an important benefit. And understanding when and how to elect can impact your benefits permanently. In addition to your full retirement age (FRA) and potential life expectancy, there are a few other things you should consider before making your election choices.

Do you plan to work?

Some women not only need to work in retirement, many want to—often trying new careers or new business ventures to keep them active and engaged. While this is an individual choice, it can impact your benefits. If you plan to continue working, your benefits could be significantly reduced if you elect them early due to the “earnings test.” Here is how that can work:

Are you or have you been married?

Another consideration is your marital status. Because married couples are entitled to have two Social Security benefit streams, it may be wise to review the benefits together to determine who should potentially claim early, on time, or late. It’s worth noting that even if you have not worked, you are still entitled to claim “spousal” benefits.

And, if you were married for more than 10 years, divorced and have not remarried, you are still able to claim spousal benefits (even if the ex has remarried). Spousal benefits:

• Are typically 50% of the other spouse’s full benefit at FRA
• May be more than an individual benefit
• Cannot be collected until the first spouse elects their benefits (unless you are divorced)
• Will be permanently reduced if the individual OR spouse elects benefits early
• Cannot be increased by waiting beyond FRA to elect

Gasber Financial is here to help you navigate your Social Security choices so you can create a trulycomprehensive retirement income plan.