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 Get Started :  Financial Planning

Why Get Started?

Financial Planning
Why Get Started?

There are a number of reasons why women need to get their financial lives into shape:

1) Financial Security. Achieving financial security is one of the biggest hurdles facing women today. Women need to consider the financial challenges they may one day have to face. Women can no longer rely on a husband's retirement check or even Social Security. They must rely on their ability to make the right financial decisions. They must accept the reality that sooner or later they will be responsible for managing their own finances.

2) Preparing for Retirement.
Women statistically live longer than men. Yet they continue to invest less and are not adequately preparing for retirement. At the same time, women work less, earn less, and often stay home to raise children. This results in significantly reduced Social Security and pension benefits down the road when they are ready to retire.

3) Financial Education.  Many women are afraid to admit they don't have a thorough understanding of personal finance. Their knowledge base often doesn't extend beyond the basics of money management (paying the bills, balancing the checkbook, etc.). They don't focus on the long-term goals that need to be addressed such as investing for retirement or estate planning.

4) Too Conservative. While women have made some stride in closing the salary gap, that alone will not not help them meet their financial goals. Women tend to be more cautious in their investment choices. They save less and are less apt to take advantage of company-sponsored retirement plans. A longer life span means women will be required to save more for retirement.


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