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Dale Payne
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I am an independent Financial Advisor with over 28 years of experience in securities and personal insurance.
I am an independent Financial Advisor with over 28 years of experience in securities and personal insurance.

11 followers
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Strategies to Optimize your Social Security Benefits
Dale E. Payne, CFP®, ChFC®, CLU®, CDFA® cordially invites you to join us and learn about many common mistakes people make in sighing up for Social Security benefits. Uncover little known strategies that could optimize your lifetime benefits and KEY FACTORS you need to know BEFORE applying for Social Security benefits. Don’t lose tens of thousands of dollars in benefits unnecesarily! TIMING COULD BE EVERYTHING!
FREE ADMISSION, SEATING IS LIMITED. RSVP TODAY
Little-known strategies to increase your Social Security benefits
How benefits are calculated and simple strategies to increase them
Coordinating benefits… Why maried couples could miss out on substantial benefits
When should you apply for Social Security… What you don’t know could cost you!
 
When: Tuesday – March 18th at 6:30pm
Where: Coronado High School Cafeteria – 1590 W. Fillmore St. – Colorado Springs, CO 80904
When: Thursday – March 20th at 6:30pm
Where: Cheyenne Mountain Library – 1785 S. 8th St. – Colorado Springs, CO 80905
If you are between the ages of 58 and 67, you should consider this event.
RSVP by Calling: 800-849-6404

Visit us online at DP-Financial.com
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My name is Dale Payne and I am an independent Financial Advisor in Colorado Springs. I’ve worked in securities since 1986 and a licensed insurance agent since 1990. Over my 28 years of experience, I’ve found that it takes both securities and insurance to make a plan work. My objective is to help you achieve your goal of financial freedom. I can help you with a complete Financial Plan, Insurance needs, Annuities and even How to Save Money at any income level. I am also a Registered Tax Return Preparer.
I am an Investment Advisory Representative of Pearl Street Advisors, LLC. Pearl Street is an SEC Registered Investment Advisor.
Credentials – CFP®, ChFC®, CLU®, CDFA®
I am a graduate of the University of Phoenix with a Bachelors Degree of Science in Business Management. I earned my ChFC® (Chartered Financial Consultant) in 2007 and CLU® (Certified Life Underwriter) in 2008 from the American College and my CFP® (Certified Financial Planning Practitioner) in 2012 http://CFP.net.  CDFA® (Certified Divorce Financial Analyst. Additional professional designations of CAS® (Certified Annuity Specialist) and the CFS® (Certified Fund Specialist) with the Institute of Business and Finance. Additionally, I am a member of the Better Business Bureau.
My passion is financial planning and the relationships that result when I make a difference. My other passions are travel, writing short stories, the practice of yoga, and my Miniature Schnauzer, Bella.
Previously Held
Series 7 General Securities 8/16/1986
Series 24 Securities Principal 12/13/1988
Series 65 Investment Advisor 5/31/1995
Series 51 Municipal Securities 2005
I am no longer associated with a broker dealer or FINRA. These are shown only to illustrate experience.


Visit us online at DP-Financial.com
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Women – Moving Forward Financially After the Loss of a Spouse


The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation. According to the U.S. Census Bureau, 40% of women age 65 and older are widows compared to 13% of men, and it might surprise you to know that women are widowed at an average age of 56.
Becoming a widow at any age can be one of the most difficult challenges a woman must face. Not only is there the emotional loss of a husband, but also the task of handling everything–including all the finances–without the help of a spouse. Even if you’ve always handled your family’s finances, the number of financial and legal matters that have to be settled in the weeks and months following your loved one’s death can be overwhelming.
Sadly, for many women, becoming a widow is a first step toward economic hardship. That’s why it’s critical for you to organize your finances after your spouse’s death and take ongoing steps to secure your financial future and that of your family.
First, take a deep breath
Before you start handling the financial end of things, though, make sure to consider your own needs. The period following the death of a spouse can be a blur of emotions–shock, sadness, despair, anger, denial. It’s important to allow yourself the freedom to feel however you want to feel. You don’t owe it to anyone to feel or act in a certain way.
Facing your loss can ultimately help you as you work to adapt to the new conditions of your life, so that in time you can create something new. This period of adjustment, which can last for several years, is often a time of profound self-discovery for women, who may find themselves examining issues of identity, life meaning, and aging. During this time, it’s important to surround yourself with people you trust–family, friends, support groups, professionals–who can offer support and advice that’s in your best interest.
The short term: steps to take
There are several financial tasks that must be done in the weeks and months after a spouse’s death. If some matters are too overwhelming to tackle alone, don’t hesitate to ask family or friends for help.
Locate important documents and financial records. In order to settle your husband’s estate, you’ll need to locate a number of important documents. These include your spouse’s will and other estate planning documents (e.g., trust), insurance policies, bank and brokerage statements, stock and bond certificates, deeds, Social Security number, birth and marriage certificates, and certified copies of the death certificate.
Set up a communications tracking and filing system. To help keep track of all the details, set up a system to record incoming and outgoing calls and mail. For phone calls, keep a notebook handy where you can write down the caller’s name, date, and subject of the call. For mail, keep track of what you receive and whether a response is required by a certain date. Make a list of the names and phone numbers of the people and organizations you’re dealing with and post it in a central location. Finally, create a filing system for important documents and correspondence with separate folders for different topics–i.e., insurance, government benefits, tax information, bank records, estate records, and so on.
Seek professional advice to settle the estate and file tax returns. Getting expert help from an attorney, accountant, and/or financial and tax professional can be invaluable during this stressful time. Consider bringing a family member or friend with you to meetings so you will have an extra pair of eyes and ears to process information.
An attorney can help you review your husband’s will and other estate planning documents and start estate settlement procedures. If you are named executor in the will (or if you are appointed as the personal representative), you will be responsible for carrying out the terms of the will and settling the estate. Settling the estate means following certain legal and administrative procedures to make sure that all debts of the estate are paid and that all assets are distributed to the rightful persons. An attorney can tell you what procedures to follow. A tax professional can help you file certain federal and state tax returns that may be due. A financial professional can help you by conducting a comprehensive review of your financial situation and identifying any retirement and survivor’s benefits that may be available to you.
Apply for benefits. You’ll need to contact several institutions for information on how you can file for benefits.
Life insurance–Life insurance benefits are not automatic; you have to file a claim for them. This should be one of the first things you do. Ask your insurance agent to begin filing a claim (if you don’t have an agent, contact the company directly). Most claims take only a few days to process.
Social Security Administration (SSA)–Contact the SSA to see if you and/or your dependent children are eligible to file a claim for retirement, survivor, or death benefits.
Employers–Contact your spouse’s most recent and past employers to find out if you are eligible for any company benefits. If your husband was a federal, state, or local employee or in the military, you may be eligible for government-sponsored survivor’s benefits.
Update account names. You may need to contact financial institutions to change account names and/or update contact information.
Evaluate short-term expenses. You may have immediate expenses to take care of, such as funeral costs or outstanding debts your husband may have incurred. If you’re waiting for insurance proceeds or estate settlement money, you can use credit cards for certain expenses or you can try to negotiate with creditors to allow you to postpone payment for 30 days or more, if necessary. Make sure you have one or more credit cards in your name, and when you can, order a free copy of your credit report and review it for accuracy.
Avoid hasty decisions. For discretionary financial decisions, go at your own pace, not someone else’s. For example, don’t commit to move from your current home until you can make a decision based on reason instead of emotion. Don’t spend money impulsively. Don’t cave in to pressure to sell or give away your spouse’s possessions. Find out where you stand financially before you make any large purchases, sell property, or loan money to others.
Moving ahead: the big picture
After the initial legal and financial matters related to your spouse’s death are taken care of, you’ll enter a transition phase when you’ll be adjusting to your new financial circumstances. As you navigate this terrain, you might find it helpful to work with a financial professional who can help you by:
Suggesting ways to invest any life insurance proceeds or estate settlement money you receive • Calculating your net worth by identifying your assets and liabilities, giving you an understanding of how you’ll meet your short- and long-term spending needs
Establishing a budget by looking at your monthly income and routine living expenses, and making adjustments as needed
Helping you update beneficiary designations on your life insurance, retirement plan, IRA, employee benefits, annuity, and so on
Reviewing your investment portfolio at least annually
Updating your estate planning documents (e.g., will, trust, health-care directives, power of attorney) to reflect your circumstances and your wishes for disposition of the marital estate (e.g., gifts to children, grandchildren, charities)
Updating your insurance coverage to reflect your new circumstances
Generally speaking, women may have a different set of expectations and requirements from their financial professional than men. As you work with a financial professional, make sure he or she is responsive to what you say you need, not what your advisor thinks you want. Don’t be afraid to ask questions, and make sure you understand all your options before making important decisions.
As you move forward with your life, remember that at times it may be two steps forward and one step back. Take comfort in the fact that you are doing the best you can to make the best decisions–financial and otherwise–for yourself and your family.
* National Center for Women and Retirement Research
IMPORTANT DISCLOSURES The information presented here is not specific to any individual’s personal circumstances.To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable–we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
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