Friday November 13, 2009 - Women & Money: A Comfortable Retirement
Unless you want to live with one your kids in your old age you really need to do some planning.
And if you choose not to do a financial plan come Thanksgiving as you have your family sitting around the dinner table decide which one of the kids you do want to live with and be nice to that kid! Educate them and hope they will want you to live with them. And when they get married be really good to their spouses!
Women need to take charge of their finances. Need I say more? None of us want to be Bag Ladies! As grown ups all of our decisions have a financial component to them. Money is a powerful tool.
Learn about money: How to make it, save it, invest it, keep it, protect it and pass it along to the next generation.
· Save for retirement with your first job; key years for retirement savings are those years between 22-35.
· Realize that Prince Charming is not coming to rescue you and if he does arrive he may be on a mule with a mortgage.
· Figure out where your money goes each month. Do you have more month than money?
· Understand how and where you spend your money
· Get out of Debt. This may mean drastic measures such as “plastic surgery”.
· Set up a spending plan. Budgeting is not fun but there are easy ways to save money.
· Make debt work for you to increase your net worth when you buy a home.
· Take charge of your finances, and if coupled, you need to share in managing the family's finances and making the financial decisions.
· Learn about investing to make your money grow faster than taxes and inflation.
· Learn how to use insurance to protect those hard earned assets and your dependents.
· Know where Social Security fits into your retirement planning.
· Learn about estate planning so that you can pass your assets to your heirs easily.
· Understand your money situation so you can better function as a wife, a divorcee, a widow, a mother, daughter, or a partner
· Know what you don't know and go learn about it.
For more help I invite you to attend a free Money Conference, Rebounding from a Recession that will take place tomorrow November 14, 2009. The conference is a project of Treasurer Tim Cahill and the YWCA. It is a free conference and will be held at the Sheraton Boston. Click on http://www.themoneyconference.com/ or call the office at the treasury 617-367-6900 to register. You will get me, a copy of my book, Money, classroom sessions, a free lunch and the ability to spend some time one on one with a financial planner! The lunchtime keynote speaker will be Kurt Czarnowski of Social Security who will be there all day to your questions.
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