Taking Responsibility

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We’re all about women taking responsibly for their own financial futures, so when we came across this sobering Forbes article, we simply had to address it.

The topic of the article is women feeling betrayed by their spouse’s investment decisions. Why the betrayal? According to the article, a variety of reasons including poor planning, bad information, and at worst, a sneaky husband. Whatever the case may be, it’s the wife who loses out and is left without sufficient funds for retirement. As the article points out, this alarming situation is a problem that many women face.

How to avoid it? Start by:

1) Taking the time to understand your particular financial situation and where you want to be in five to ten years.

2) Discussing the many financial decisions being made on your behalf – do they match up with what you want?;

3) If you have willingly given up responsibility for your financial future by leaving the decision making up to someone else, understand that you’re the one who will live with the consequences;

4) Educate yourself! It’s never too late to start — follow us here on Money Matters and read, read, read;

5) Take a first step — maybe by learning more about social security; a good place to start is this US government site here.

The Forbes article is interesting and worth the read (here). It’s a good wake-up call for all women (pass it on!), whether to take more of an active role in your own retirement planning or simply to confirm you’re on the right path.  Questions?  Please let us know.


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