Financial Safety Net for Women – Part 2

Last week we discussed the importance of building a form financial foundation. This week we will cover the first step; pouring and solidifying the concrete. This step involves meeting with an insurance agent and/or a financial advisor so you can complete a survey entitled a fact finder (needs analysis). This fact finder will uncover where you are financially and where you want to be in the future. It will formulate a plan for your financial objectives and goals. Some of the questions on the survey are: 1) Where day you want to be in 5, 10, 20, 40 years? 2) Do you need long-term care coverage? 3) How much life insurance do you need? 4) How much money should you have in savings for emergencies, etc.

Women are especially vulnerable in planning for their financial future. Schedule an appointment with an agent or planner to get started building your foundation.

Financial Safety Net for Women – Part 1

We are starting a new series for women. This series will focus on areas that are of importance to women, their families and their businesses. Statistics has shown that if we aren’t already, most of us will be the sole person responsible for our financial security. A woman who is out of the workforce due to family obligations or illness will have a longer recovery period financially than her male counterparts. On average, it takes about five years to make up for every one year of absence.

We are all concerned about retirement and investments but to have a strong foundation we must start with protection. Our next blog will cover creating a financial safety net for women.