Five Points For Women When Financial Planning

Women have unique strengths and challenges when it comes to financial planning:

1st

Women have a longer life expectancy.  This means we need our money to last longer and will also have more medical costs.  

2nd

Women tend to be caregivers for their families. It may be for raising children, aging parents or to support our husband’s career. Our own work and career experience interruptions, affecting our earning years and earning potential to invest and save for retirement.

3rd

Our physical health is closely related to our financial health. Our ability to take proactive measures, enjoy a fulfilling low-stress life, and seek medical treatment when needed, is all affected by having peace of mind from financial security. 

4th

Women tend to be better investors and better savers and achieve better investment results with less risk.  Yet only 17% of women say they are very confident they will be able to retire comfortably.  The key to building confidence in retirement or any other long-term goal is putting those advantages to work.  By understanding where you are now, where you want to go, and how to get there in a way that is best for you.

5th

Women will either be divorced, widowed or single and each situation requires unique planning and strategies.  More than half of all women over 70 are divorced or widowed.  It’s crucial to know what benefits and resources are available to you.

It is important to consider how your life might change and evolve over the years.  Focusing on strategies for the long game is the best way to secure resilience for unexpected circumstances.