How to best serve our female clients has been a topic of great discussion here at Claris. Recently, I read an article about financial planning for women written by a member of our BAM Alliance that I found interesting.
The article references a study, performed by the National Center for Women and Retirement Research, estimating that 90 percent of all women–single, divorced or widowed—will be in charge of financial matters at some point in their lives.
I was personally touched by this because it happened in my family. In 1978, my Grandfather died at the age of 60 and my Grandmother, being a few years younger and still raising a 16 year old, suddenly was in charge of their finances. She was fortunate to find a full-time job and worked there for 10 years. She retired with a small pension, social security, and lived comfortably to the age of 89. This emphasizes the importance of understanding your financial state and future and being prepared to take over those decisions if ever necessary.
All of us at Claris are here to help. If you have any questions or concerns about your financial future, contact Claris.