Sandy's Story

When Sandy McKown’s husband was first diagnosed with a rare form of brain cancer, her first thoughts were that “I was afraid to lose him, but I was also afraid of how I would continue without him.” After her husband tragically passed away after his 18-month cancer battle, Sandy was lost, both personally and financially. During their 34-year marriage, Sandy’s husband had managed their finances.

For the first two years after her husband’s passing, Sandy was able to make ends meet, but still faced financial difficulties: “I was having so much anxiety about how to cover the cost of living, and although I was making a little money at my job, it wasn’t enough to cover long-term expenses.” It was around this time that Sandy heard an advertisement on her local radio station advertising Wings for Widows, a Minnesota-based nonprofit organization and received a grant from Foundation for Financial Planning (FFP) to support its programming. Wings for Widows specializes in helping widows navigate the financial changes that accompany the loss of a spouse. After hearing some client testimonials, Sandy decided that it was time to reach out: “I had no financial confidence, I was scared that I wouldn’t be able to retire; I knew it was time to ask for help.”

Soon after contacting Wings for Widows, Sandy was matched with her financial planner, Melissa (see Melissa's Story). In their first meeting, she and Sandy walked through Sandy’s financial situation, and Melissa provided advice on the best strategies for Sandy to manage her money. Sandy says that Melissa provided a sense of comfort: “I felt like I could share my fears with her and ask questions that I wouldn’t have normally felt comfortable enough to ask.” Melissa taught Sandy financial skills such as how to check her credit score and how to balance a budget. She would send follow-up emails after their sessions with summaries of what they had discussed. “There were times when I started crying with gratitude during sessions with Melissa — she really changed my life and gave me financial confidence, but most importantly, she gave me a sense of peace that had been missing.

”With Melissa’s guidance, Sandy learned that she could withdraw dividends on some modest investments, which would allow her to retire sooner. Now, she’s able to focus on what’s important to her: “Working with Wings for Widows gave me freedom from my financial anxiety; now, I can focus on spending time with the people I love.” Inspired by the support she received from Melissa, Sandy now volunteers at an organization that aids widows through their own experiences with loss.

When asked if she had advice for other widows, she said that “the sooner you start, the sooner you can feel peace. Seek out resources like Wings for Widows that provide the confidence and knowledge you need to manage the financial aspects of your healing journey.”

Published on October 10, 2024. Reprinted here with permission from the Foundation for Financial Planning.