Smart Money Financial Tips, Investment Advice and Strategies For Women Investors
Women have recently shown a heightened interest in the world of investment and require knowledge and advice that address their women specific requirements.
Our articles are written by people with the expert financial knowledge and experience required to offer advice and tips in the field of investment, financial planning assurance and pensions, real-estate, mortgages, health insurance, stocks and bonds, retirement and high ticket items such as automobiles.
Women are projected to acquire over 85 percent of the $12 trillion growth of U.S. private wealth between 1995 and 2010. Playing an active role as an investor requires special knowledge - but today women are learning quickly how to handle their assets and require easy access to financial products and services tailored to their unique needs and interests.
Over The Years, Many People Have Told Me They Wished They Had Learned About Money When They Were Children
It's unfortunate that there is no formal curriculum about money management and budgeting in the majority of our schools today.
Many years ago when I taught forth grade students, we started a project of selling pop corn to the other students after school. First, we went to the bank to get a loan. The only reason we were actually able to get a loan, I think, is that the father of one of my students was the bank president. Our ‘marketing department’ called the paper to let them know we were getting a bank loan and they printed a front-page story. The publicity was so good that parents would buy popcorn along with their children.
A fresh look at goal setting -- the new year is an ideal time for deciding where we want to focus our new aspirations
I love the automatic structure the calendar year provides in terms of a time line for reviewing our progress.
Perhaps you're already familiar with the Yale study (although some say it never took place), which reported that the 1953 graduating class at Yale was interviewed and only 3% had written specific goals for their futures. Twenty years later, that same 3% was found to have a higher net worth than the other 97% combined.
This story illustrates the power and importance of goals. They provide us with targets—something to aim for. In other words, they give life direction.
In addition, goal setting is a method of anticipating and preparing for the future. It is an effective way of picturing what we want to achieve and what we want our lives to be like. We can then move towards those images in an intentional way.
A Reader Recently Asked Me About Dealing With An Inheritance, So I Will Be Addressing Those Issues In This Article
It may be likely that you will receive an inheritance at some point in your lifetime, most often from a parent. It is important to realize and respect that along with the money, an inheritance often carries a variety of emotional reactions.
I often hear clients speak of the burden of the inheritance and the strong wish to use the money in a prudent manner. Some want to make sure a portion of the money continues to be passed down in the family. Many remember the effort required to accumulate the money and want to be good stewards of it. Since the money may significantly alter your current and future living conditions, the emotions can be mixed and varied.
Hiring A Financial Consultant
A WITI member wrote me asking when it might be most appropriate to use a financial planner so I thought I'd offer some suggestions.
Almost anyone can benefit from the advice of a financial advisor just as anyone could benefit from the advice of a seasoned expert in any field of concern.
There are a few specific times when contacting a financial planner is especially important.
Do You Ever Wonder Where Your Money Goes Or Why You Don't Have More?
In order to maintain a healthy relationship with money, we need to be aware of how we spend money. We want to make sure we are actually spending it on what is important to us. Tracking our spending and creating a budget is a first step.
Working from a traditional budget has some inherent complications because we're dealing with the past. The real power comes from is looking forward and deciding how the money will be spent in the future. Consequently, a budget or spending plan needs to be an active, working document that is reviewed and revised frequently. Our lives change from day to day so our budgets need to adjust accordingly. If an unexpected expenditure is necessary, revise the spending plan immediately, making the necessary adjustments. That eliminates surprises.