Resources for Women

Women today are more educated and more independent, and they are juggling more work, family and financial responsibilities than ever before.  As a woman, you might be in the midst of establishing a career, having children, maintaining a household, running a business, taking care of aging parents or giving back to your community — your life can be hectic.  It’s all too easy to get sidetracked with the intrusion of more immediate responsibilities and to put off learning about and taking an active role in managing your finances.

But the more informed and knowledgeable you are, the better you will feel about your decisions and your ability to take control of your financial situation.  As you go through various stages in life, you will encounter various milestones and challenges.  

Getting Started
At this stage, you will have hopefully acquired the education and skills you need for your chosen career.  You might be single, just married or starting a family.  In these situations, now would be an ideal time to lay the foundation for a solid financial future!  It's important to develop good spending and saving habits and to learn about investing. Feel free to visit our Learning Center where you'll find valuable information to help get you started.

Family-Focused
Have you transitioned from living on your own to having a partner? Are you coordinating plans and discussing your future?  If you intend to start or expand your family, it could become important to buy a new or bigger home, and to protect your family and assets in case of disability, job loss or an unexpected illness.  And at this stage in life, you most likely have two big financial challenges — simultaneously saving for a child’s college education and saving for retirement. To reach these goals, you'll need discipline and a realistic savings plan.

Suddenly Single
Suddenly divorced or widowed? You might be alone and on your own, and it can be difficult. Your situation could be even more challenging if you became the sole supporter of a child or you lost one of two Social Security checks, a pension check or your health-care coverage.  And if you want to move to a smaller home, a different city or you have decided to return to school, finances would most likely be an important and stressful consideration. By becoming single, you are now responsible for all financial decisions — decisions that you once shared with someone else.  But if you are informed and knowledgeable about your finances, these decisions would be easier to make and the transition to single life less stressful.  Review your financial situation, and make sure your goals and objectives accurately reflect your current needs. Consider life and disability insurance, and reassess your long-term retirement goals.
 
Prime of Your Life
If you’re in the prime of life, you are hopefully feeling good about yourself and your situation. You are confident about your opinions and ideas and have more free time to concentrate on hobbies, community service or spending time with family and friends. Your children might be in college or on their own, either supporting themselves or hoping for your help as they start their own careers. If you are employed, you are most likely at the highest income level of your career.  Although you might still be assisting children financially or are responsible for the care of an aging parent, focus on building your retirement assets and review your estate plan. It's also a good time to consider disability income and long-term care insurance.
 
Retirement on Your Terms
You may be thinking about where you want to live, what trips you want to take, the hobbies and activities you want to pursue. You might even be thinking about an entirely new career or volunteering with a local charity.  During retirement, it is important to remain diligent about your investment strategies and planning — 15, 20, or even 30 years is a long time to go without a paycheck!  Retirement is not an overnight event, but a lifelong process.
 
Financial Independence
Marital or professional status has nothing to do with financial independence!  As a stay-at-home mom or a full-time working professional, you can save for retirement, protect your children with life insurance, and be an active participant or even a leader in the family’s financial management.  But you don’t have to do it alone!  Our highly professional team of insurance and investment specialists are accessible, eager to listen, and quick to respond to your circumstances.  We are prepared to address all of your personal and business needs.
 
Consider these statistics:

  • Almost 50% of all individuals in America with $500,000 or more in investable assets are women.1 
  • In the next 20 to 30 years, women will come into money twice through parents and spouses passing away.2 
  • 90% of American women will at some point in their lives have sole responsibility for their finances.3 
  • In a recent survey, almost half the women said they had a fear of losing all their money and becoming homeless and destitute.4 
  • 52% of women consult no one regarding their finances.5
  
 


Articles, Research and Brochures 

Financial Independence & Security
Financial Independence & Security Checklist
Guide for Women Business Owners
Broken Trust: Elders, Family & Finances
Women & Generational Differences
Family Matters Study
Sons at Work: Balancing Employment & Eldercare
What Today's Woman Needs to Know About Retirement
Gender Wage Gap: 2009
Custodial Mothers & Fathers and Child Support

 

 

 

 

Sources:

  1. Women of Wealth, Financial Planning, John J. Bowen Jr., November 2006
  2. Build Your Business by Tapping the Affluent Women’s Market, Neuberger Berman Management Inc., November 2006
  3. Research@Rice, Rice University, November 15, 2006
  4. Knowledge, Experience, Action Quell Women’s Money Fears, Monica Steinisch, May, 2007
  5. MetLife Employee Benefits Trends Study, 2006