www.FinancialPlanningForWomen.org After losing a spouse, one of the most important things to do immediately is nothing at all. Your emotions are reeling and you’re worried about how you’ll live without the person you’ve had alongside you for so long. Rather than making hurried decisions that may affect the rest of your life, just stop and take your time to grieve and honor your spouse. When you’re ready, call us and we’ll go over the next steps you need to take including adjusting your investment portfolio, increasing your insurance coverage, or possibly selling your home. Unique financial planning issues for divorcees Divorcees face many of the same financial planning issues as widows. They need to adapt to being on their own and making their own financial decisions. Women who are unaccustomed to making major financial decisions affecting their retirement and financial goals can greatly benefit from meeting with a financial advisor. We’ll review your retirement savings, income needs, risk tolerance, and financial objectives, and we’ll create a personal financial plan to help you work towards reaching your goals. We’ll manage your investment portfolio and adjust it periodically as the investment climate or your personal situation changes. Atlanta, Georgia Financial Planning Firm Serving Women Clients Nationwide How does this happen? Here is an example of a woman entrepreneur who didn't take the time to write a business plan. As a talented hair stylist, Jane Doe decided to open up a high-end beauty salon. She found a beautiful location in an affluent location and went about designing an upscale salon business. The landlord was willing to take a chance on a business newcomer only because she was willing to sign a five-year lease with a substantial bump in rent each year. Because Jane also serviced clients, she hired a salon manager and a shampoo girl, both who were paid salaries as full-time employees. Jane priced her services so that she could cover the two full-time employees, rent, utiltiies, product, advertising and all other business expenses as well as pay the independent stylists their fair share for their work. Her pricing was at the top of the market for what even an upscale market Social Security for widows would bear. After the first eleven months in business, Jane called me as her she was barely getting by. After I reviewed all her financial data and spent time understanding the business, I realized she had put herself in a terrible situation. Can you guess where she had gone wrong? And even though her planners have come and gone, Victor has learned how to build a portfolio that she’s proud of. “Sometimes the planner will throw out terms that mean nothing to me. It’s like when a sommelier goes through a detailed description of a fancy Retirement Planning for women wine, and I say, ‘Can you just give me a red wine that doesn’t taste crappy?’ ” she explains. “I found that the best thing to do was to explain what my goals were, and where I wanted to invest—and then have the planner explain the terms to me simply.” read more here
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