Understanding The "Widow’s Penalty"


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Understanding The Widow’s Penalty and What You Can Do About It

💬 From Episode 66:

“Many women find themselves navigating complex financial waters at a time when they're most vulnerable.” – Eric Blake

Losing a spouse is heartbreaking, but it can also trigger financial challenges that many women aren’t prepared for.

In this week’s episode, I explain what the Widow’s Penalty is, why it disproportionately affects women, and what you can do to prepare. You’ll hear real client stories, clear up common tax myths, and discover strategies to protect your financial future.

Here’s what we cover:

  • 📉 How the Widow’s Penalty can lead to higher taxes and lower income after losing a spouse
  • 👩‍❤️‍👩 Why women are more impacted — longer life expectancy, smaller benefits, and career interruptions
  • 📖 Real-life client examples, including early widowhood and restricted retirement asset access
  • 💡 Tax strategies like Roth conversions and capital gains harvesting during joint filing years
  • 🗣️ Why couples should have these retirement planning conversations now — not later

🎧 Listen here: Episode 66 – Understanding The Widow’s Penalty and What You Can Do About It

▶️ Watch on YouTube


Are You Looking for Financial Support & Resources Specifically for Women?

Purse Strings is an online platform devoted to giving women access to easy-to-use resources and qualified financial professionals who focus on serving women.

I recently recorded a short video on serving as a Purse Strings Approved Professional.

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The co-founders of Purse Strings, Dr. Barbara Provost and her daughter, Maggie Nielsen, were on episode 17 of the podcast. 🎧 Listen Here: Episode 17 - Financially Fearless Women with Barb Provost and Maggie Nielsen


Have more questions about retirement planning? Just hit reply to this email. I read and respond to every message. 😃

Keeping Retirement Simple,

Eric Blake, CFP®

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Content here is for illustrative purposes and general information only. It is not legal, tax, or individualized financial advice; nor is it a recommendation to buy, sell, or hold any specific security, or engage in any specific trading strategy.

All investing involves risk including loss of principal. Results will vary. Past performance is no indication of future results or success. Market conditions change continuously.

Information here is provided, in part, by third-party sources. These sources are generally deemed to be reliable; however, neither Blake Wealth Management nor RFG Advisory guarantee the accuracy of third-party sources. The views expressed here are those of Blake Wealth Management. They do not necessarily represent those of RFG Advisory, their employees, or their clients.

This commentary should not be regarded as a description of advisory services provided by Blake Wealth Management or RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.

Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC ("RFG Advisory" or "RFG") a registered investment advisor. Blake Wealth Management and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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The Simply Retirement Newsletter

Straightforward retirement education for women delivered to your inbox weekly. 🎙️ Host of the Simply Retirement Podcast. Whether you are divorced, widowed, or simply ready to take control of your financial future, your retirement planning needs are special.

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