Women's Issues

  • Whether you yourself are currently experiencing widowhood, or you know someone who is - I want to take a moment to acknowledge your strength. When you lose a lifelong partner, there are moments where it might feel numb, as though moving forward and creating a next-steps plan is outside of your capacity. That’s completely understandable.

  • Just a few weeks ago a surprising statistic showed up in one of our blogs. Over half of single women have a moderate or heavy amount of anxiety about dealing with finances. Many single women are successful in their chosen field and many are business owners. American Express commissioned a study this year that found the number of women-owned firms increased by 45 percent between 2007 and 2016. Many of these women are sole owners, showing us that the idea of successful single women can be a spectrum from personally single to business single and personally attached.   

  • Meet Melissa. Melissa is happily single, has built her career over many years, owns her own home and is generally able to afford what she needs. Melissa is concerned about saving the right amount to provide for a comfortable retirement, travel, home improvements and the possibility of living to age 100. Melissa is an example of an executive woman.

    Executive women are a rapidly growing segment of the population and, like anyone, can use guidance on how to properly invest for their futures. But if you are in this category, you may have different expectations of your financial advisor than men do, as you may have different priorities for your hard earned money. Here are just a few expectations that you, as an executive woman, may want to discuss with your financial advisor.

  • What would happen if suddenly you found yourself single after being married for thirty years? Or what if you became widowed? Would you be prepared? What if you decided to move in with your significant other? How would that affect you financially, as a woman? These are realistic scenarios. According to the U.S. Administration on Aging, about 9 million women over the age of 60 are living the single life. How are they doing financially?

  • It’s fair to say that in the United States, women today are better educated and have more career opportunities than previous generations. However, even with those advancements, many women are still anxious about being financially secure upon their retirement. According to the Annual Transamerica Retirement Survey of American Workers, only 10 percent of women are “very confident” in their ability to fully retire with a comfortable lifestyle. In contrast to their male counterparts whose greatest financial priority is saving for retirement and building a large enough nest egg, women are focused on just getting by and covering their basic living expenses.

  • Women face unique challenges when planning financially. So not surprisingly, often the best advisors to help women plan are other women. No, this is nothing against male advisors who may be equally as competent. These are insights into some of the dynamics that might affect whether a woman could be more comfortable working with another woman.

    Gender traits– To begin, “men are from Mars, women are from Venus,” right? It’s common knowledge that women operate differently than men. Many women tend to excel at listening empathetically, building relationships and practicing patience. This is not to say men cannot act in a similar manner, but it’s not as common with men in the client-advisor relationship. These traits that many women advisors possess aid in effective communication, which is imperative for a good planner-client relationship.

  • Many women run their households, have built successful careers, tackle a side hustle, and are actively involved with their family, friends, and local community. It’s not a secret that women are essentially superheroes without capes! So why is it that so many women struggle to discuss their finances? According to a recent survey, 61% of women would rather discuss the details of their death than their own money. That’s a daunting statistic, especially because many women will be solely responsible for their own finances, and potentially their family’s estate, at some point during their lives.

  • The beautiful thing about retiring in today’s world is that there are no traditional expectations. As women, we are presented with countless, incredible retirement lifestyle options.

  • It’s not news that women face unique challenges throughout life, financially and otherwise. What is news, however, is the data underlining the problems. More than half of single women and 41 percent of married women say they feel either a moderate or a lot of anxiety about their personal financial security. This is certainly not a positive. What’s going on?

  • Life expectancy is still steadily increasing, with no signs of slowing down. Women, in particular, have seen an extending lifespan in recent years. Right now, women have an average lifespan of 81 years! As biotechnology improves, it’s very likely that people will live well into their 90’s - or even past 100 years of age. While this is an exciting thought, it does require more detailed financial planning.

  • You deserve to live a lifestyle that brings you joy - even if you outlive your partner. Creating an individual retirement plan is one way to safeguard yourself against financial scarcity during your years as a retiree, and help to prepare you for the possibility of facing retirement without your life partner by your side.

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