Women need to make sure they are sufficiently engaged in financial planning.While people certainly do not always fit into generalizations about their gender, the results of a Prudential biennial study indicate that some women are not taking responsibility for their financial wellbeing. Seek the help of a Fee-Only financial planner if you are not certain that your finances are in order.
According to Prudential’s most recent Financial Experiences and Behaviors Among Women (as reported in The Powdersville Post):
“Married/partnered women are more likely than their male counterparts to say they share financial decision-making equally (35 percent vs. 21 percent).
Women worry most about household expenses, debt and their ability to save for retirement (while men are more focused on external factors such as the state of the economy).
Only 10 percent of female breadwinners feel very knowledgeable about financial products and services and are only half as likely to feel as well prepared to make wise financial decisions as men.”
The results indicate the women know they have financial concerns but even with this awareness, they may not be comfortable taking action. Getting women to take steps to ensure their financial futures is very important. An expert quoted in the article did say that women are more likely to ask for help and when they do, the chances that they will be prepared for retirement increase.
Still, getting over the hesitation and setting aside feelings that you are somehow not able or ready to handle financial concerns is serious hurdle.
One way to bring clarity to your finances is to consult with a Fee-Only financial advisor who pays attention to all aspects of your financial life, has excellent communication skills, and has the commitment to be available when you need advice and support.
When you work with Clarity Financial Planning your needs come first, and you can expect unbiased advice on all aspects of your financial situation when you enter into a long-term relationship focused on protecting your assets and guiding you towards the future you deserve.