As women we always juggle many roles--breadwinners, mother, daughter, wife, etc. and the grades we get vary depending on which role requires most of our attention at the time. The areas that women consistently receive less than stellar grades in are preparing for retirement and becoming financially savvy.
Following is a short "yes" or "no" quiz. See how knowledgeable and prepared you are:
___ I currently have an emergency fund for unforeseen needs?
___ I currently participate in my employer’s savings program ?
___ I understand my investment statements and chart my account’s balances?
___ I understand the concepts of asset allocation and risk tolerance?
___ I have quantified my retirement? (I know how much I must save monthly to reach my retirement goals)
___ I have a written Net Worth statement?
___ I have a written record of my financial goals and objectives?
If you have answered affirmatively to the majority of these questions, you are to be congratulated. If you have answered negatively to the majority of these questions, you may wish to give this area of your life more attention.
As women we seek advice for our hairstyles, our clothing, our nails. We have someone else clean our houses, wash our cars, watch our children. However, we hesitate to contact a professional regarding our financial needs. If you don’t currently feel you are prioritizing your financial future, put that on top of the next “to do” list you create. It’s that important.
Deborah E. Pajak, ChFC®, CFP®, ChFC, CDFA™, CFBS is a registered representative of and offers securities, investment advisory and financial planning services through MML Investors Services, LLC., Member SIPC, 5001 Louise Drive, Suite 300 Mechancisburg, PA 17055. 717-791-3300. CRN201808-216147