Women understand the needs of Women.

"Women understand the needs of Women". That's more than just a catch phrase, it is the truth! Organizers of the Firm of Women are tired of going to seminar after seminar with men sitting in front of the room giving ill and patronizing advise to women in all areas of our lives.  Let's face it, most men do not understand us on personal issues, and in most cases can only offer a crippled opinon on the business and financial issues.  Times have changed.  The playing field is level, specifically as it relates to the financial arena and it is our opinion that women just need to be given the correct knowledge take their lives to the next level.

Women’s financial needs are different.

The Firm of Women understands that women have made great strides in entering the business world, whether it’s into a new business venture or as a corporate leader.  Women, however, still make less money than men and are more likely to leave the workforce to care for their children or aging parents, sometimes performing double duty by caring for both children and older relatives at the same time. If women earn less money and lose personal income as well as the opportunity to contribute to employer-sponsored retirement plans while out of the workforce, it is more critical for them to understand their unique financial needs, whatever their life stage. The Firm of Women has a resolution for all of the above situations. Freedom of time, Financial Freedom, and most of all A PEACE OF MIND!

 

According to 2008 U.S. Census reports, women will live longer than men – on average five to seven years longer – and so experts suggest that they will need to set aside 20 percent more than men for their retirement plans.  Since women make, on average, 80 percent of what a man does in the same JOB, accordingly they face a more daunting task of saving for retirement.

 

Identifying this is the first step toward financial independence. We help women understand that their current and future needs are time sensitive. We show women why they should have different concerns than men.  We teach them options that will assist them in making financial decisions that will help them achieve their financial goals. 

 

To get started, a woman should identify her financial goals. She should ask herself:

 

• How much money do I need to save for short-time goals – emergency funds, a new car, etc.?

• How much do I need to save for long term goals – college for kids, retirement? How should that money be invested?

• How much should I save each year? What kinds of investments will help me reach my goals, and what is the potential risk and return of these investments?

• How often should I review my investments? When should I make changes?

• Do I need a retirement plan separate from my spouse?

• Do I have a will and an estate plan? Is it up-to-date?

• Do I have provisions for the financial and physical care of my dependents – children and aging relatives – in the event something should happen to me or my partner?

• Am I interested in charitable giving?

 

Answering these questions is the first step in helping a woman to decide where she wants to be financially – now, five years from now and in retirement. Like men, women should place their goals in short, medium and long term categories. Then, work with a financial professional to develop a financial strategy that addresses all of these questions and provides a roadmap that will help you find your way whether you are just starting out, building your family or planning retirement.