Retirement expert leads financial seminar for widows Oct. 6
A seminar designed to help widows navigate the treacherous financial landscape after their spouse dies is coming to Batavia on Thursday, Oct. 6.
At 7 p.m., Jim Flanagan, a Certified Financial Planner and longtime retirement expert, will share "Widows: Understanding Grief and Emotions of Women in Transition" at the Batavia Park District, 327 W. Wilson St.
In the 90-minute session, Flanagan will delve into a range of issues on this time in one's life and, among other topics, how to avoid common mistakes during this vulnerable period.
The fee is $10 for residents, $12 for Batavia nonresidents, and $14 for nonresidents. For more information, call the Batavia Park District at 630-879-5235 or register online at www.bataviaparks.org.
According to the U.S. Census Bureau, about 1 million women become widows annually, and the average age of widowhood is 59.4 years old - meaning that for many it is a long-term phase of their lives.
In a holistic presentation that encompasses the emotional, relational and financial realities that emerge during this period, Flanagan offers practical counsel on how to avoid common mistakes that make an already-trying time even worse.
The founder of Naperville-based Bentron Financial Group, Flanagan has become increasingly involved in serving others, particularly seniors, over the years. Since 2008, he has served as chairman of the Oak Park-River Forest Township Senior Services Committee and in 2010 he founded the Celebrating Seniors Coalition, a not-for-profit organization dedicated to serving older adults in Oak Park, River Forest and Forest Park.
Widows are much more common than widowers: seven of 10 Baby Boomer wives will outlive their husbands and 80 percent of women will be single at the time of their death. And then there is this staggering, sobering statistic: half of women over the age of 65 will outlive their husbands by 15 years or longer.
"Unfortunately, there are predatory financial offers and practices that target widows and this seminar empowers women with information and insights at this crucial time," said Flanagan. "For one thing, it's important to proceed with caution on any housing decisions, to take an objective approach on all financial matters, and to stand firm that you refuse to be rushed into any big decisions that are irrevocable."
Flanagan will discuss the three stages of widowhood - grief, growth and grace - as well as do's and don'ts during each stage.
"I recommend a straightforward 'ABC' approach: ask questions, buyer beware, and care for yourself," said Flanagan. "I realize that's a lot easier said than done. This workshop helps people avoid that feeling of being alone by providing the tools and the framework to move forward on their own."
A River Forest native and lifelong resident, Flanagan is the founder of Bentron Financial Group, based in Naperville. He has been advising people at or near retirement age for more than 20 years. For the past 15 years his specialties have included counsel on how and when to tap into Social Security benefits.
For more information about the Celebrating Seniors Coalition, visit www.CelebratingSeniors.net. Bentron Financial Group is online at www.bentron.com.