The benefits of a written comprehensive financial plan are generally universal for all, but women face particular challenges that make having a plan that more critical.
Here’s why:
-Women live longer on average and that means more years in retirement.
-Statistics show that women have a higher incidence of becoming either seriously ill or disabled.
-It’s 2017 but women on average still earn less than men and are more likely to take a pause from work in order to care for caregiving. (The result is less savings)
-Women tend to invest more conservatively , limiting the growth of their investment portfolio generally.
-Women also tend to put off investing until later in life, losing the positive effects of early compounding.
It’s key that women take control, save, invest and plan for the future If you don’t have a written financial plan, make it a priority.
