Financial Planner/CFP Wayne von Borstel on Why Married Women Should Plan for Widowhood

This is a delicate topic that not many people wish to discuss. A widow is more likely to retreat into her own world after the death of her husband. It will be difficult for her to adjust to this new reality.
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It is a natural response to the loss of a partner for a lifetime. Widows feel a lot of emotional stress. Their brain function is below 60%
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Friends and family surround the widow at first, but then things return to normal, leaving her with an empty home, an empty bed and a broken heart. Wayne von Borstel is an Oregon-based certified financial advisor who believes women should take preventive measures while their husbands live. To give their future selves the freedom to express emotions and move ahead at their own pace.
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In his 37-years of service, he has spoken with many women and listened to them. While there are exceptions, older couples tend to have men who take care of the finances. Women are involved in their families, communities, lives, and the people they love.
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"Many widows said to me that I would do a great job of educating my married clients by teaching them. Von Borstel stated that he forced them to hear the stories of women who had lost their husbands and to be prepared. He confessed that some of the women listened to him even though they were married. They were happy and didn't want to be alone. Wayne von Borstel listened to women about what worked for them, rather than suggesting an action plan for them.
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He has a clear idea of what worked well and what didn’t. He heard one thing from widows: Build a trusted team. A trusted team could include a CPA, financial planner and family doctor.
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A widow needs to build a relationship with her husband, be involved, and know her true identity. Be able to trust others. Others made plans to not isolate themselves and turn inward. Others decided to unclutter their lives and not have as many possessions.
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Every woman dealt with loneliness, sorrow, and emptiness in a different way. The women who found something outside themselves to enjoy life were those that had the greatest enjoyment. Steps Every Married Woman Should Take. Based on Wayne von Borstel's professional and personal experiences with widowed women clients, he suggests that married women seek out the advice of his female clients.
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He said that there was some consistency in the responses. Many women haven't thought about what they would do if they lost their husbands, who may be financially or emotionally dependent on them. Women need to realize that their husbands will probably outlive them in order not to be blindsided. Women should be involved in the family finances, including the allocation and manager, as well as the family portfolio. Wayne suggests that women "sit in on financial advisor meetings at least once a month with their husbands."
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Keep an eye on the accounts, checkbooks, or other processes that her husband relies upon while they are both alive. This will allow her to function independently after his death. Von Borstel recommends that women who feel confused about money meet with their financial advisor and ask a series of questions. You could also invite them to a class or webinar on finances, and they could join your husband in meetings.
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Although it may seem boring or insignificant at the moment, it is vital information if you're widowed. It is important for every wife to know what her income will be after her husband passes away. Von Borstel has knowledge of families in which the husband's pension was lost when he died. Plan to make up the difference if cashflow is not sufficient
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You can do this through work, life insurance or by saving more while you're still alive. You should save enough money to support at least one survivor, most often the woman. We hate the thought of death, especially if it is a loved one.
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The more prepared we are, and the more proactive we are in taking the actions that we do, the better we'll be, no matter how far we seem to be as a couple. Wayne von Borstel's Method to Helping Women Plan For "Being Alone" von Borstel acknowledged that he meets with his clients often after they have become widows. His goal is for more women to talk to a financial advisor while they are still married and healthy to create a plan. His goal when a widow visits him is to help them develop a strategy for finding their "new normal" as soon as they can.
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They will need to take time to heal (this can take many years), to adjust to their new normal and to get well again. It seems impossible at first. It may seem impossible to make a change. But having a plan and understanding your situation will help you navigate the path to a new normal. This will bring you less stress, worry, frustration, and anxiety. We should allow them to grieve and be open to their feelings.
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We continue to build and make choices for their future, even though it is difficult. His work with Oregon widows was described by him as "I try to inspire them, help them find their purpose." Every person is unique. They have their own financial DNA. I need to be careful and listen to what she fears the most.
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Her situation may have so many aspects that it is difficult for her to pinpoint the most important issues. His job is to help clients determine their priorities. Von Borstel said that he provided a plan to help his clients move forward and start a new life. They trusted me to tell the truth even when we disagreed or became frustrated by the choices we had to consider.
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They acknowledged that they needed to think about what I said to them and had to deal with it - even though they tried to resist it, it was hard. Wayne concludes by saying, "I get that many women manage their families' financial affairs." Perhaps this article should not be written for the spouse who is in charge of the finances. Wayne stated, "My heart breaks for the wives emotionally devastated by their husband's passing."
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Particularly, those who don't plan well! Services offered by von Borstel & Associates, Inc., a registered investment advisor. URL 2022, All rights reserved. You cannot reproduce the content without permission
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