Episode 46: Theresa Trinidad Talks Retirement for Solo Agers

Financial advisor, LGBTQ and women’s advocate, and triathlete Theresa Trinidad provides excellent insights and recommendations for solo agers (those who do not have a spouse/partner or children to support them) in retirement as well as offers her thoughts on addressing financial concerns when it comes to making career transitions, retirement decisions during the pandemic, and more.

Theresa also shares about her career journey and lessons learned, including getting coaching support and looking at how to use skills in a different setting to have more impact. The show concludes with the weekly “Reignition Recommendation” career tip.

Show Notes:

[00:26] Welcome to Reigniting You® where we talk all things career transition for those age 40+. Great to be here with you today and our producer, Eric.

[02:45] Welcome back to Reigniting You® the show that focuses on all aspects of making mid-late career transitions.

[03:19] Excited to introduce today’s guest, Theresa Trinidad. Welcome to the show!

[04:29] Lisa asks Theresa to share her career path – financial analyst at a guardianship agency; controller work; CFO role for small businesses before Merrill Lynch.

[06:52] What are some of the things you enjoy most about your career in the financial world? Theresa – impact I can make; helping more people and strategic planning.

[07:38] What are some key lessons you learned along the way? Theresa – finding more fulfillment by using strength of being good with numbers but in a different way to have more impact; working with a coach – seeking support.

[10:06] What was particularly helpful that got you through times of change and transition? Theresa – supportive spouse with a second income.

[14:21] Visit https://yournewaspect.com to sign up for career tips and take a free Career Transition Readiness Quiz or to contact Lisa. Go to Services/Group Programs to check out her free upcoming webinar, workshop, and e-guide focused on pursuing encore careers.

[15:01] Not everyone has a spouse or partner to share their retirement phase of life with (or has children to support them). What are some issues you see for solo agers when it comes to financial planning and how can those issues be managed? Theresa – looking at income needed to meet basic needs; downsizing conversations; have a longer period of time to consider- many working part time.

[18:04] What are general fears and trepidations you encounter with clients when it comes to giving up their work and actually starting their retirement time? Theresa – pandemic has had people pause and think about what’s important to them; dealing with burnout.

[19:43] What, if any, impacts from the pandemic are you seeing when it comes to people deciding to retire, whether retiring earlier than planned, staying the course, or pushing it back? Theresa – a lot are steady; caused folks to accelerate retirement more – want to be five years away instead of ten.

[21:10] Have you seen people dealing with concerns around having enough money to last, knowing what to do with themselves, healthcare issues, etc.? Theresa – biggest cost in retirement is healthcare – number one concern; long-term care is a hot topic.

[23:39] What recommendations do you have for those who are looking to stay in the workforce and are considering a career change later in life as it relates to their financial health? Theresa – lots of resources to help make the financial transition; emotional and mental health and well-being important.

[25:11] How can people find you? Theresa – email; LinkedIn.

[25:59] Reignition Recommendation – remember the phrase, “Nothing in life is certain.”

[27:08] A reminder to visit https://yournewaspect.com to sign up for career tips and take a free Career Transition Readiness Quiz or to contact Lisa. Go to Services/Group Programs to check out her free upcoming webinar, workshop, and e-guide focused on pursuing encore careers.

[27:47] Join us next week when it’s time once again for our monthly Best Job/Worst Job/First Job episode when I’ll share listener stories and career news. As a reminder, you can share your story by email or leave a voicemail at 360-436-6496 to share it over audio.

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