Empowering Women Through Retirement Planning

A study by Bank of America found that while 94% of women believe they will be responsible for their finances at some point, only 48% are confident in their financial management skills, and just 28% feel empowered to act.   

Women make up 50% of the population, yet less than half feel confident in their financial abilities, and even fewer—28%—feel empowered to act on that confidence. Women generally take on more household chores and caregiving responsibilities, leaving little time to focus on financial planning and retirement, often delegated to their husbands. As a result, important financial goals, investing, and retirement planning tend to be overlooked. Most women will need to manage their finances at some point in their lives. Unfortunately, this can occur during challenging circumstances, such as the death of a spouse, when they may not be prepared or even aware of their financial situation. Our goal is to educate and assist women so that they can retire with confidence and effectively manage their finances. 

Learn More: Retirement Planning for Women: How to Plan for a Successful Retirement 

Why women should prioritize retirement planning:  

Planning for retirement presents unique challenges for women compared to men, primarily because women are more likely to outlive their husbands, yet many feel insecure about managing finances independently when that time comes. While men often take charge of financial planning, women frequently assume caregiving responsibilities. This disparity can create a situation where women might face an extended period of managing finances alone if their spouse passes away. If a woman has never been involved in financial planning or lacks knowledge about finances, she may find herself unprepared to take on these responsibilities during a difficult time. This issue of retirement planning for women is concerning and deserves attention. 

Learn More: Empowering Women in Finances and Retirement 

The benefits of a financial advisor:  

Having a financial advisor can significantly ease your journey through the world of finance. They provide education and answer specific questions related to your financial situation. These professionals establish a relationship with you to support your financial planning as you approach retirement. 

• Tailored Plans: It’s essential to have a plan that aligns with your specific retirement needs. 

• Risk Management: Understanding your risk tolerance is crucial for making informed decisions. 

• Tax Planning: A comprehensive strategy for managing taxes in retirement or even in the present can help you retain as much of your money as possible. 

• Income Planning: Knowing where your retirement income will come from helps you prepare and retire with confidence. 

• Serenity: Consider the value of comfort—especially if you prefer not to navigate the complexities of finance on your own. You can trust the financial professionals at 210 Financial to assist you. 

At 210 Financial, our advisors are dedicated to educating and assisting women with all their financial questions. We strive to create a plan that inspires confidence, guiding you every step of the way to ensure a smooth retirement. 

Building a comprehensive financial plan:  

We emphasize the importance of having a solid plan to help you understand your current financial situation and prepare for the future. A well-structured plan allows you to have a clear picture of your finances. We concentrate on five key pillars of retirement: tax planning, income planning, legacy planning, healthcare planning, and investment planning. Addressing these five pillars helps create a well-rounded plan.  

Learn More: Blueprint to a Relaxed Retirement: 5 Essential Pillars of the 210 Financial Plan  

Conclusion:  

This March, we honor the sacrifices made by women and encourage you to feel confident in taking control of your retirement. When it comes to retirement planning, we are here to help you create a comprehensive strategy and put it into action.  

We have locations in Morton, IL, Bloomington, IL, and Davenport, IA. We invite you to visit us at any of these three locations. Meet with 210 Financial today to kickstart your retirement planning and address any questions you may have.  

 

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Past performance is not indicative of future results. The material above has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed, and 210 Wealth Management, Inc., d/b/a 210 Financial makes no representation or warranty as to the accuracy or completeness of the information, which should not be used as the basis of any investment decision. Information contained on third party websites that 210 Financial may link to are not reviewed in their entirety for accuracy and 210 Financial assumes no liability for the information contained on these websites. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission from 210 Financial. For more information about 210 Wealth Management, Inc., d/b/a 210 Financial, including our Form ADV brochures, please visit https://adviserinfo.sec.gov or contact us at (309)263-1333.