The Green Zone
Why Financial Planning for Women is Different (Ep. 68)
Financial planning is not the same for everyone, and those differences are particularly distinct between men and women. Interestingly, according to Raymond James, more than 51% of the personal wealth in this country is controlled by women – and that number is growing. But women often feel less comfortable with their financial independence and even face financial challenges their male counterparts do not. In this episode, Jeff Green and Lauren Smith bring to light some of the unique considerations women may want to take into account for their financial and retirement planning, including:
- Women tend to live longer than men, which may impact when they take Social Security
- Women tend to earn less in their careers over their lifetime, which needs to be factored into financial and retirement plans
- Women tend to be the primary caregivers of children and other family members, which can impact the types of financial decisions they need to make
- Women who are widowed or go through a divorce have unique, specific needs that should be addressed quickly within a window of time
- How working with a financial advisor versed in the unique needs of women, like Lauren Smith, can be incredibly beneficial for tailoring financial planning for women
- And more…
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