Women and Financial Planning
Financial planning is more than saving for retirement or paying for a child’s education. YOUR goals and dreams have to be part of the equation.
Women live longer than men, and those extra years can add up. Making sure you have a balanced portfolio will help you achieve your retirement goals.
Although stereotypes are changing, women are still more likely to serve as caretakers than men, meaning they accumulate less income and benefits due to their time absent from the workforce.
How do you feel about risk?
We all look at risk differently, based on our varying life experiences and financial position. Your personal investment strategy should reflect a clear understanding of what you’re investing for, how long you have to meet your goals, and your comfort level with risk. And, knowing how you may react to the ups and downs of the market is important. Some investments fluctuate more dramatically in value than others, but may have the potential for higher returns.
According to recent Modern Family Index research, women are two times more likely to be managing the household and three times more likely to be managing children’s schedules than their partners. And it is draining. Wheels are forever turning and there’s always planning to do. But we’re often our own worst enemy, striving to do everything at once and holding ourselves to incredibly high standards.