August 26, 2022

It’s all in the relationship. Today, more than ever, we are feeling the shift from antiquated structure to a flow of comfortable space in all aspects of our lives. While there is need to acknowledge the changing times, it’s important to consider progress with thoughtfulness, precision, and through the visionary eye to continually learn from our past. To represent the wide range of people in search of financial security- the way we all do- it’s important to consider- who is your financial advisor, and do you click.

When we look at the financial industry, no surprise there are fewer women. This can be attributed to a myriad of reasons- however, the important piece to focus on, is that that dynamic is shifting. With women outliving men roughly 5 years, coupled with our changing times, it’s no wonder women financial advisors may find their “click” with certain clients (females), may be on the horizon more so than ever.

Years of life expectancy for men and women graphic Coupled with life expectancy, divorce rates continue to be an issue. As we breakdown the statistics, in 2022 approximately 50% of all marriages will end in divorce, with subsequent marriages at an even higher chance ranging from 60-75%. As women advance in careers and the pay gap closes, the ability to own financial independence regardless of marital status will be a focus. The relatability of female advisors is here to support you- and that is paramount.

Whether you are single, married, changing careers, getting divorced, starting a family, caring for elderly parents or siblings, there are key financial steps that should be taken into consideration to ensure you meet all your financial goals, and it all starts with having a strategic financial plan that grows and changes with your needs.

Where do you start? Here are 3 simple steps:

Take advantage of your employers 401k match - If your employer offers a retirement savings plan you should be taking advantage of it. You can do this by contributing enough to at least get the full match your employer is offering. It's essentially free money.
Plan for Balancing Debt & Saving for Retirement - High-interest debt is costly, and the longer you keep it, the more you pay. Craft a strategy to get out of debt fast- I can help!
Keep your Financial Accounts Up to Date - Together, we can create a budget and review your finances. You should focus on rebuilding and creating a plan for your finances in their entirety. Budgeting, bulking up your emergency fund, tax planning, retirement savings - it's a good idea to be aware of and review your social security benefits as well. Finally, it's important to understand the tax implications of inheriting any investment or retirement accounts due to the loss of a spouse. Getting your accounts in order, up-to-date, and developing a holistic financial plan for your needs starts with a conversation.

As you consider your needs going forward, it all starts with understanding and gaining control of your finances. Taking time to sit with a financial advisor you feel comfortable with who can really get you on track to develop a financial plan unique to your goals. It is time to work to increase savings, find ways to cut expenses, and gain tips on tax consequences with your investments.

It starts with a conversation - start planning your financial future, today!