| On average, women live approximately
| |
| | left and not spend first and save what's
|
| seven years longer than men. But very
| |
| | left at the end of the month.
|
| often women never provide for themselves
| |
| | The The great Henry Ford once said:
|
| sufficiently to have enough money to live
| |
| | "You don't get rich by that what you
|
| on, and being financially secure during
| |
| | earn. You get rich by what you don't
|
| those extra years.
| |
| | spend."
|
| Most women are up against more and
| |
| | If you're a home-mom with only your
|
| different financial challenges than men.
| |
| | husband working, you can open up a
|
| On average, they unfortunately still
| |
| | spousal IRA in your name. Your husband
|
| don't earn as much as men do, and chances
| |
| | can contribute to it and you'll both have
|
| are that they are more likely to take
| |
| | more money during retirement.
|
| time off during their careers to raise
| |
| | 2. Make sure that you have enough
|
| children. Furthermore, women tend to
| |
| | investments. Now I don't necessarily mean
|
| invest less than men do.
| |
| | stocks, options, futures or commodities.
|
| All this results in financial
| |
| | Depending on your knowledge about the
|
| difficulties and hardship for many women
| |
| | stock market, these may not be suitable
|
| later in life.
| |
| | for you 'cos they do bear certain risks.
|
| 1. Most married women leave financial
| |
| | What I mean is having policies like
|
| matters to their husbands. So, if you are
| |
| | mutual funds or life insurance to cover
|
| married, don't leave the financial
| |
| | at least five years of income.
|
| planning to your husband alone. Because
| |
| | 80 - 90% of all investments should be
|
| marriage should be a 50/50, or win-win
| |
| | invested in secure and long-term
|
| situation anyway you must always stay
| |
| | policies!
|
| involved as an equal.
| |
| | Half of all marriages end in divorce, and
|
| As I already mentioned in a previous
| |
| | three quarters of all women are
|
| article that I wrote, never give control
| |
| | eventually widowed. Good investment
|
| over your money to someone else! I can't
| |
| | policies can also account for an
|
| stress this enough. I've have seen people
| |
| | unexpected illness or accident that can
|
| go down financially before my very eyes
| |
| | impair your finances. If your employer
|
| because of this fatal mistake. Lucky for
| |
| | doesn't offer it, obtain individual
|
| one person that she's my own mother! At
| |
| | coverage youself. What is also a good
|
| least me and other family members can
| |
| | idea is to have up to 3 monthly salaries
|
| support her, because my father doesn't.
| |
| | stashed in your bank account that you can
|
| She left all the finances in the hands of
| |
| | get hold of quickly...just in case!
|
| my father that unfortunately didn't know
| |
| | 3. Never cash in on retirement funds! To
|
| the very first thing about controlling
| |
| | many people end up cashing in their
|
| and handling money. He had absolutely no
| |
| | retirement fund balances (whether it's a
|
| money management skills whatsoever.
| |
| | 401 (k) or any other retirement plan)
|
| And then they separated after 30 years
| |
| | when they change jobs.
|
| and the financial downward spiral
| |
| | Still others take out loans against their
|
| started.
| |
| | balances, permanently reducing the amount
|
| If you're not involved in your day-to-day
| |
| | of earnings they would have accumulated.
|
| family finances, you're putting yourself
| |
| | If you want to accumulate wealth,
|
| at risk.
| |
| | tax-deferred retirement plans like 401(k)
|
| So if you're married and you let your
| |
| | plans are a great way to do it, but
|
| spouse handle all the financial matters,
| |
| | resist the urge to tap those funds before
|
| you're at risk if your spouse dies or
| |
| | retirement 'cos that's not the idea of a
|
| becomes seriously ill or if you divorce.
| |
| | retirement plan!
|
| Know the details of your family's
| |
| | Also people that emigrate into another
|
| finances, investments, debts, retirement
| |
| | country cash in their retirement balance
|
| savings, etc. Discuss your savings
| |
| | and wast it for things like the move, the
|
| options with your husband and learn your
| |
| | flight into the new country, new
|
| financial options.
| |
| | furniture or a new car 'cos the old one
|
| Don't turn your investments and financial
| |
| | wasn't worth taking along anymore, etc.
|
| affairs over to a broker or financial
| |
| | That's not the idea of a retirement plan
|
| consultant either without keeping track
| |
| | either! If you change countries you
|
| of what is being done with your money and
| |
| | should know 2 things:
|
| being involved in investment decisions.
| |
| | - Is it temporary...
|
| Never give control of your money to
| |
| | - or it it permanently?
|
| anyone else. NEVER!!!
| |
| | If it's temporary, then leave your money
|
| By the rule of thumb men should save 10%
| |
| | where it is and let it grow earning
|
| of your gross income each year. Women
| |
| | interest.
|
| however, should save at least 15%. This
| |
| | If it's permanently, then you can cash in
|
| is to account for their longer life
| |
| | whatever you've accumulated so far and
|
| expectancy and the loss of salaries many
| |
| | reinvest it in another retirement plan in
|
| women face when they raise their
| |
| | the country you're now living in.
|
| children.
| |
| | And if you have an even better
|
| Now I know that for many women 15% is a
| |
| | idea...great! Well done! As long as you
|
| lot of money. It all boils down to money
| |
| | don't squander you retirement plan
|
| management again. To gain wealth and
| |
| | flushing it down the drain!
|
| financial freedom, you should always "pay
| |
| | All the best!
|
| yourself first" and then live on what's
| |
| |
|
