Helping A Sista’ Out- With Her Finances
Stressed out Sista
Do you know when it comes to financial planning, that women face unique financial challenges that, if not appropriately addressed, could put you in a very difficult situation during your retirement years?
Facts about women’s finances
Well here are the facts when it comes to women and money:
Sista’s Financial Literacy is key
Surprisingly too, women are also passively relying on sources beyond their control to provide for their financial needs in retirement, such as husband’s, children or some good fortune.
Even as more women build careers in the business world, young women remain as uninformed about financial planning as it relates retirement finances as older women.
All of this makes it quite clear that now is the time to ensure that women realize how important retirement planning is to their future. Women need to realize that gender-specific financial issues mean that, in general, they need to save more money than men for retirement.
Given this need for more money and less salary earning means, women have a greater need to understand investments and its impact on their retirement.
14 things to help a Sista’ out Financially :
- Get professional financial advice to help you assess your situation and goals, and work with you to develop a long-term financial plan to achieve them.
- Create your Net Worth statement to figure out where you stand financially.
- Review and be certain you are living below your means, every month by listing your monthly income and expenses.(Cash Flow Statement)
- Establish a written spending plan – a budget – for how you want to spend your money each month.
- Commit to paying off all consumer and credit card debt.
- Start saving early to get time and compound interest working for you. Commit to saving 10% of your income every single month.
- Within 90 days, review all your insurance coverage, including insurance to protect your income if you become disabled. Obtain medical insurance coverage to safeguard against medical emergencies.
- Within 30 days, have a valid Will or Living Trust
- Put a “Wealth Creation Team” in place, including at least: an attorney, accountant, financial advisor, and insurance agent whom you know and trust.
- Use your knowledge and skill, and the advice of your Team, to invest in things you understand and can monitor over time.
- Become better educated about money and creating wealth by reading one book or magazine on money and investing every month. Taking Control of Your Money” workbook is a good resource to get you started.
- Find out about your company’s pension plan and enroll as soon as possible.
- Know how much money you will need for your retirement and contribute the maximum amount each year to your saving and investments. Our Retirement coaching program will help you with this.
- Always transfer or hold on to retirement funds when changing jobs;
So sistas’ make sure your retirement years are really golden by taking the time today to review your current financial situation and get started on doing the thing necessary to ensure that you will be able to stand on your own two feet!
And to help you get started you may want to consider “Retirement Secrets Exposed Coaching Program”