It is heart wrenching to be a spectator of a divorce. Many of us have witnessed one or more of our girlfriends go through the Big D (AKA hell) or, even worse, we’ve experienced it ourselves. No one wants to see a marriage dissolve – the parents, kids or the friends of the couple intertwined in the impending break-up. However, the divorce over 50 trend among couples is becoming a startling statistic. In the last 20 years, the divorce rate among baby boomer couples has doubled. Read More
Saturday, February 22nd, 2014 and is filed under Financial News, Financial Planning Blogs, Insurance-based products, Investing for Women - Did You Know?, Products & Investments, Rebranding Annuities, Saving for Retirement
There’s no question that finance is traditionally a male-dominated industry. Though the number of female financial professionals has increased dramatically over the last several years, there is a lingering sense among many female consumers that they are not part of the club when it comes to fully understanding and controlling their finances.
A recent study conducted by Prudential on women’s financial attitudes and behaviors highlights several areas in which women feel they are not financially empowered. In fact, the study reports as few as 22% of women feel well-qualified to make financial decisions, and the majority of women are not working with a financial advisor.
The main goal of Women, Money and Power is to put women in the driver’s seat when it comes to their money. By becoming educated and empowered on financial issues, women can cut through intimidating jargon and fast-talking sales pitches to make sound decisions based on facts – not emotions. Read More
It’s no secret that women tend to be under-served in the financial world. As a result, a woman planning for retirement today is less likely to feel she understands the ins and outs of the programs she is considering. Anyone in this situation – regardless of gender – is likely to make the same mistake: doing nothing for fear of making a mistake.
With market volatility on the increase, now is not the time to put on the blinders. Leaving the money you need to rely on for retirement income at risk in the stock market can be a dangerous proposition. You only have to look back and remember September and October of 2008, when the markets quickly dropped more than 30%, to see how quickly losses in the stock market can cripple a retirement plan. Read More
One of the consequences of all of the turmoil in our economy over the last few years has been companies reducing retirement benefits. Whether you are happily married, divorced, or divorcing, this can have major repercussions – especially for women.
I’d like to introduce Susan. Read More
by Cathy DeWitt Dunn ~
Do you remember those roller coaster rides when you were a kid? I sure do. I could hardly sleep the night before because of the anticipation. When we finally made it through the gate of the amusement park, I almost dragged mom and dad straight to the roller coaster.
I can still hear the distinct sound of the clack, clack, clack, as the chains pulled the cars up to the very tip top of the tracks. My heart was pounding in my chest as we reached the top and I would throw my hands in the air and scream to the top of my lungs as we took the exhilarating plunge to the bottom.
Those were some of the fondest memories of my childhood. When I think of roller coasters, I think of fun, I think of thrills. But when I think of the stock market roller coaster, I don’t have quite the same outlook. Read More
by Cathy DeWitt Dunn –
The question as to whether or not the United States Federal Government is looking into taking over private 401K assets has been asked many a time over the last few years. In 2009, The Wall Street Journal ran an op-ed titled “How to Fix 401(k)s“. In this article, it mentions a “radical structural change” for the 401K system.
Not everyone thinks 401(k)s can — or should — be saved. “It’s time for a radical structural change,” says Gene Steuerle, a vice president at the Peter G. Peterson Foundation.
It goes on to say that plans to replace 401Ks would include that the “government would at least partly take over sponsorship of these accounts”. Read More
During years of marriage, many women have focused on raising a family…instead of focusing on building personal wealth.
If you’ve spent your life taking care of family while your spouse earned all or the majority of the income, here’s something you need to know – QDRO. A QDRO is a “Qualified Domestic Relations Order,” which provides a legal mechanism for dividing the retirement benefits of private pension and/or 401K plans earned by your spouse during the years of your marriage.* Read More
Hitting that century mark or even living well into our nineties is hard to fathom––so much so, that a lot of us are guilty of just ignoring the “what ifs” of making it that far in life. However, for women, facts show that we ARE living longer and longer. This is great news but living longer may create some pretty severe financial challenges. It’s a smart idea to put a solid long term care plan in place, either by saving for it or through long term care insurance planning … the sooner, the better. Read More
Everywhere we turn we hear the warnings of the coming fiscal cliff. It’s the top story in the news. The financial world is on fire. Wall Street is holding its breath. Businesses are scrambling to protect their assets from the “imminent” fiscal cliff.
What exactly is this “fiscal cliff”? Is it just a bunch of media and political hype? Or should you be concerned and trying to protect your retirement savings from financial disaster? Read More
Working with annuity experts –– like us here at Women Money & Power –– can make a huge difference when it comes to how much monthly income you’ll enjoy in retirement.
We recently met with Katy, a female executive at a Fortune 100 Company, who was looking to add an income component to her portfolio as she prepared to retire. Her company’s 401k administrator suggested that she roll over her 401k into a company-sponsored annuity. After discussing her situation with us here at Women Money & Power, we were able to find an annuity option that provides her over 40% more a month in income. Katy is now able to enjoy a substantially higher retirement income after utilizing our expertise in the annuity market.
The bottom line is you should never settle for less…especially with something as important as how much income you can enjoy during your retirement years. Read More