Transcript
Page 1: Why the Right Financial Planning is so Important for Women, PART 1

Why the Right Financial Planning is so Important for

Women, PART 1

This three-part article series takes a look at the special financial needs of women and

just why it is so important for them to make provision for their family and

themselves through smart planning and investments.

To say that women have special financial needs and can benefit

enormously from careful planning is no sexist statement. There are

many reasons that it is absolutely essential for us, frequently more

so than for men, to make smart financial plans, provisions and

investments.

In this three-part article series, I will be presenting what a panel of

experienced Rancho Santa Fe asset management professionals had

to say about this. So, if you’ve convinced yourself that you don’t

need an estate plan because your husband is the one who takes care

of all your family’s financial affairs, or you don’t need a solid

financial plan because you’re a high flying business executive who

makes a killing each year, think again!

It’s time to sit down and start making those plans – irrespective of your relationship status

or income bracket – because you never know when tragedy might leave you and/or your

family without financial security.

1. Women Tend To Outlive Men

According to statistics, the average Rancho Santa Fe female lives approximately five years

longer than the average male. This means that women need to feed, clothe and support

themselves for five extra years and presumably non-working years if they are retired.

Page 2: Why the Right Financial Planning is so Important for Women, PART 1

If they are married, it also means that women are likely to outlive their husband and so

may come into quite a bit of wealth when he passes away. This is when the right financial

planning becomes so important, because it’s now up to them to make the last arrangements

with regards to their estate and the distribution of wealth amongst their heirs.

Timely estate and financial planning well before a spouse passes can save you a lot of

trouble and a lot of financial strife, according to Rancho Santa Fe asset management

professionals. With a solid plan in place, the proceedings can commence and run

unhindered, giving you and/or your heirs faster and less complicated access to funds.

2. Women Tend To Be Lower Income Earners

It’s a terrible shame, yet in spite of how far we’ve come as far

as gender equality is concerned, women still earn

approximately 20% less than men. In 2010, for every dollar

men earned, women earned 81.2 cents. While this has

absolutely nothing to do with capability, many business firms

still prefer to hire men because they tend to be more career-

focused and don’t get side-tracked by having families.

Women on the other hand, not only tend to earn less, they also

work less than men and this is almost always because they

need to take time off to have children and raise a family. With

a lower life-long income, Rancho Santa Fe’s female residents

can find it harder to save than men, and yet it is incredibly

important considering they are likely to outlive their

husbands. A good investment plan can help you build your

financial nest egg.

Stay Tuned for Part 2

To read more reasons why financial advisors and wealth managers urge women to make

smarter financial plans for life, stay tuned for the second installment of this three-part

article series.

Thanks for Reading


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