PLANNING FOR WOMEN
“From birth to age 18, a girl needs good parents. From 18 to 35, she needs good looks. From 35 to 55, she needs a good personality. From 55 on, she needs good cash. I’m saving my money.” Sophie Tucker, American entertainer popular in the early 20th century.
Women worldwide, who now account for $18.4 trillion in consumer spending, hold approximately 30% of global wealth and are the largest emerging market in the world. According to the Pew Research Center, approximately 40% of huseholds are headed by a female breadwiiner and women are increasingly becoming their family's primary financial decision-maker. Yet a 2010 study by The Boston Consulting Group found that over 35% of women were extremely dissatisfied with their financial adviser and reported being treated disrespectfully or given poor advice because of their gender. Positively reprehensible!
Ninety percent of women report feeling insecure when it came to personal finance and 48% of women agree with the statement, “Investing is scary for me.” 11% of women report worrying about money hourly, and the National Institutes of Health reports that women as twice as likely as men to worry! Of course, not all women feel this way, and the financial planners at Futurity Capital are here to help you no matter which group best describes you. We take the time to find out what is important to you and to educate you about your options. We will explain asset categories that can lead to achieving your goals rather than touting complex products and services.
We can also help you with such "must haves" as building a spending plan, establishing an emergency fund and practical tax strategies, as well as saving and investing for retirement. Retirement planning is even more crucial for women than for men. Although many women are married, 85% outlive their husbands and are alone during their last years. About 80% of women die single, with age 59 being the median age at which women become widows. Many older women may have worked fewer years and earned less money than their spouses.
In addition, we can help you with charitable giving strategies and their potential tax benefits, as well as review your estate documents and insurance policies.
Contact us today to set up an appointment with a female CFP® professional who can get your finances on track. 540-441-7699