Women need to be educated and prepared. Understanding your assets now can help prevent financial crises down the road. Becoming educated and prepared doesn’t have to be difficult. If you apply yourself, it’s fairly straightforward. You can turn to a financial professional who specialize in working with women investors. Life can be unpredictable. 1 in 5 marriages ends in divorce. Women live on average 5 years longer than men. Average age of first-time widowhood is 55. One in four widows exhausts her husband’s benefits within 2 months. Are you prepared?
Some money moves women can make:
- Get involved in managing the family’s finances.
- Be sure to have your own retirement account.
- Get professional financial advice
- Married women: Plan your financial life as if you will be on your own someday.
- Don’t use your 401(k) as an in-and-out fund.
- Write down your financial goals.
Establishing a financial plan is a worthwhile endeavor and is not merely the province of people who have lots of money. Financial planning is designed for everyone. It helps you focus on your dreams and financial goals. Most people find it difficult to save or invest without specific reasons. When goals are verbalized and then written down, you will understand why saving money is important to you. Contact me for complimentary budget and planning session.