Many successful women are creating substantial wealth - however some of them will end up poor.
Women control a great deal of wealth in this country. The dilemma is that many women earn, manage, and receive this wealth, yet, same as men, they need help in establishing clear expectations and strategies for the future.
This problem is especially characteristic of three circumstances:
Success. More and more women are arriving at new found wealth, because of success with a business endeavor, or the creation of a fantastic career. Coming into wealth or creating wealth and income leaves little time for strategizing the best and most efficient use of and protection of assets.
Divorce. A split may bring about financially "equal" settlement, but there can be big difference between "equal" and "equitable." A woman may divorce only to find that she has less earning potential than her former spouse, and an individual or a family's life style may suffer as a result of the income reduction. This is a familiar scenario for women who have helped their spouses build businesses or professional practices. Without strong wealth management and budgeting, there may be a money problem.
Retirement. The tendency is to protect the nest egg: in these times who wouldn't want to? Being risk-averse does have its downside, however. Some women adopt an extremely conservative investment approach, and their portfolios earn so little that their retirement income can't keep up with even moderate inflation. Without a growth investment strategy, the risk of out living your money may increase.
Don't risk losing what you have. How is your skill set when it comes to managing money and investing? Do you wish you knew more?
Feel free to ask us the questions you've always wanted to ask. Turning Pointe Wealth Management is here to help with the Turning Pointes in your life.