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