Broker Check

Women

Did you know women incomes are increasing and they control an increasing portion of United States and global wealth? On average, women live longer than men, so they need a robust financial plan to address their financial needs. Should they choose to leave their careers behind to raise a family or continue to work and raise a family, women must address the gap in retirement they may experience due to lower incomes or leaving work for maternity leave. Social security benefits will be affected and retirement plan benefits will be too. 

 Many women are on the rise educationally and professionally and are conquering these unique retirement challenges. Financial success is a goal for many, but women face unique barriers that can make that goal more difficult. Women who are single, divorced, or widowed face a higher risk of living in poverty during retirement. If the woman is a minority, her risks of spending her golden years living hand to mouth increases. 

Our firm understands the personal needs and interest of women. We understand the hardships of women managing their career and children and your request for economic freedom and stability. It's not about selling to you. It's more about getting to know you and understand and learn what is really important to you. It's about hearing your hopes, dreams and fears in order to provide the right guidance for your particular circumstances. When it comes to you, we kick our assumptions to the curb. We ask the questions, then we listen to what you tell us. If you have specific questions, you'll leave our office knowing more than you did before. We understand your desire to get educated and become savvier financially..

We know that women have different financial needs and different types of access and approaches to money. We found this to be true especially when it comes to making decisions that might affect your family and things that are dear to you. Our goal is to help you feel OK and figure it out and answer the difficult questions - " Will I have enough money?' and Will I be comfortable?" or " Will I have to go back to work?" 

We can work with you to create a financial plan to help you live the life you want. Let us help you pursue your short and long-term goals and spend your retirement years with your loved ones and friends knowing that you have addressed your future needs. Our clients are single working mothers with working with a budget, career women with an above average incomes, widows trying to manage on her own, women who work for state and federal employers and business owners and professionals.  We'll keep you informed and provide education to you so you'll grow savvier. We get it - Really.

A Profile*

A Profile*

Name: Vivianne 

Age: 58

Occupation: Teacher

Current Net Worth: $900,000


Three months ago, Vivianne’s husband Matthew passed away suddenly. He was not yet retired as a Retail Manager from Verizon. They had been married for 35 years right out of college. Vivianne would come to the investment meetings with her husband occasionally but left most of those decisions to her husband. They had a living will and trust, lived a frugal life and invested systematically. Vivianne's goal had been to retire as a third grade teacher at age 60 and live on her pension and social security and investments.  They had no debt and owed two more years on their mortgage. They have four children and three grandchildren.

Her Concerns

Vivianne was now in charge of all financial decisions where her husband Matthew was in charge before. She now had to take charge of complex investments and figure out what to do with the assets. She had so many decisions to make and questions to ask. It was so overwhelming as she had just lost the love of her life. She felt alone, the daunting paperwork was too much to bear. She didn't know if she would be financially able to retire. Her husband had a 401(K) and pension at Verizon. She wasn't sure how to handle it. She was afraid, feeling emotional pain and needed guidance and support but she just wasn't comfortable with their financial advisor. 

How We Can Help

Advance Financial Lighthouse can help Vivianne understand the complexities of navigating her financial life. We can help her understand her investments and options, educate her about the paperwork and process. We can visit with Vivianne over a series of meetings to listen, understand her situation and goals and also allow her time to process and understand and educate her about her situation.

Vivianne will be able to apply for social security survivor benefits at age 60 and she can roll-over her husband's 401(k) into her own Inherited IRA and begin receiving income. She can apply for her husband's pension from Verizon and receive spousal benefits. We can assist with all of the paperwork needed to get things started for Vivianne. And she can authorize us to transfer the rest of her investments from the Financial Advisor chosen by her husband to one chosen by Vivianne. We can make application on her behalf for all the life insurance and prepare a financial plan with her goals and desires and also determine where she stands financially now, for retirement and long-term.

*These are fictional characters and hypothetical scenarios. Please note that individual situations can vary and some strategies may not be suitable for all investors. Therefore, the information presented here should only be relied upon when coordinatedwith individual professional advice.