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Women & Money: Seven Savvy Secrets to Financial Success.

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  • Looking ahead to what we’re going to learn today.
  • If you were to divide the audience into 4 groups, based on age, each group would have a different perception and comfort level around their financial affairs. These differences are strongly based on what society’s expectations were for women during their youth.Compare each generation…..But one thing that has most likely been each woman’s wish, at least once in there lifetime…….each generation has probably dreamed that
  • Read the screen.It’s a great dream, but we really should have a plan B……Because that dream isn’t always the reality
  • Frog-to-Prince ratio = 50:1
  • Today, people are intent that they need to know about the markets and be knowledgeable around all areas of investment in order to be successful.That’s simply not so. Let’s take a look at Seven Savvy Secrets that can help you reach your life goals.These secrets offer insight in how to manage the many complexities of your financial life.
  • Before you can begin the game of life and of building wealth, you need to have a solid financial foundation. That means mastering the ability to not only manage your assets, but to manage your liabilities.Read quote. Being prepared means mastering the ability to not only manage your assets, but to manage your liabilities.Part of being prepared is making sure that if you run into a snag, there’s a safety net in place.
  • Review rules and benefits around having an emergency fund
  • Managing credit is also important. When would you consider borrowing money? To purchase an appreciating asset: home or education examplesRemember Layaway? If you’ve let your debt get away from you, there’s no time like the present to get things back on track:Consider using savings to pay off debt. Take notice of interest rates on each of your cardsTransfer balances when availablepay off cards charging highest interest rates more aggressively
  • Your FICO score is used for more than just to obtain more credit. It has become a character source for employers, property managers and more.Your score is made up of 5 components: Types of credit in use: 10% New Credit: 10% Length of Credit History: 15% Amounts Owed: 30% Payment History: 35%Credit Agencies: Experian EquifaxTransunionwww.annualcreditreport.com
  • Whether you work for someone else, or you own your own business, you are most likely going to be responsible for your own retirement funding.Taking advantage of qualified plans becomes an important part of the funding puzzle.
  • Employer matching is like a Buy One Get One Free, or 50% Off Sale!IRA – Individual Retirement Account;401(k) – employer-sponsored tax-deferred retirement account Retirement savings and investments through qualified plansRoth versus traditional 401(K)For those just entering the workforce or who believe their earning potential will increase greatly over time, the Roth 401(K) may provide a tax advantage over time.Required Minimum Distribution considerations:There is one other difference between Roth IRAs and Roth 401(k)s. Roth IRAs are not subject to required minimum distributions (RMD). However, there are required minimum distributions from Roth 401(k)s. They are not taxable, but any distributions reduce the future tax free growth. This minor problem can be overcome, however. Upon retirement, you have the option to roll the Roth 401(k) into a Roth IRA. This will stop any future required minimum distributions on all the money for your entire lifetime.
  • Roth IRAs and Roth 401(K) are similar to their traditional counterparts. However, there are differences. Let’s review
  • An individual can convert traditional 401(k) funds to a roth count. There may be advantages to some who chose to do so. However, there are also disadvantages (mainly, an immediate tax liability) and one should carefully consider both sides of the argument before making that decision. When one terminates, there are considerations…..Rollover into IRA, conduit, rulesIt’s always important to look at how these different actions will be taxed.
  • Today, there is a growing number of self-employed, and many of them are women. One of the trends we see in the industry today is that self-employed and small business owners fail to take advantage of qualified plans and therefore find their retirement nest eggs significantly underfunded.If you are a business owner, consider the benefits of qualified plans.If you are a business owner and you are trying to attract and retain key personnel, you may want to consider offering a nonqualified plan, or deferred compensation plan as an additional form of compensation. If you are a participant in a nonqualified plan, it is worthwhile to take time with an advisor to understand the particulars of your specific arrangement
  • Is there anyone in this room who has never wanted to give something to someone or some cause?Statistics show that women are indeed more philanthropic than men. To me, charity is this: giving the right thing to the right person/cause at the right time and it benefits us both.There are ways that you can be philanthropic and it can provide you a benefit as well….a benefit beyond self satisfaction
  • Read points 1-3As we have continued to control more of the investment wealth, we have also continued to become more involved in the business of giving. (point 4)There are many ways one can be charitable.
  • If you have a desire to give the right thing to the right person/organization at the right time so it benefits you both, talk to your advisor about the many options that are available to you.From the simplest method of making a direct donation, to the most complex of foundations, there is a fit for you. Keep in mind that the more complex, the more costly it is to create. But, talk to you advisor to learn more.
  • Here’s another way to be charitable: Giving to the familyOne specific desire I have is to help insure my grandchildren with get the start they need, whether I’m there or not. 2/3 of grandparents today say they want to help pay for their grandchildren’s education.There are three options to consider:Direct payment to college for tuition – maintain control, but if death prior to child completing college, assets may not be set aside in the estate.UGMA/UTMA – Moves it out of the estate/lose control529 Plan – moves it out of the estate/maintain controlAnd you have the option of superfunding:
  • 61% of people in the US who are between the ages of 44 and 75 are more afraid of running out of money in retirement then they are of actually dying.To address these fears, we need to understand what it’s going to take to retire, what income resources are going to be available for us and how can we maximize those resources.
  • Today, the burden of providing a retirement income stream falls more heavily on the individual than ever before. This shift began to change with the introduction of IRAs in 1974, but more rapidly began to change with the introduction of 401(k)s in 1983. the most recent study indicates that 63% of an individual’s retirement income will come from their own savings, including 401(k) and IRA contributions.Because of the low savings rate of many individuals, will face significant shortfalls in their retirement net egg. In fact, there is currently a $4.5trillion deficit in retirement income.
  • This increased expectation is driving many individuals to believe that they’ll continue to work beyond age 65, to compensate for the shortfalls in their retirement plan.Almost ¾ of the pre-retirees from this survey said they plan to work at least during their early years of retirement. But, they have not considered whether they’ll actually be able to work beyond 65:Desire is one thing, but for many, health issues, skill set and market demand could get in the way of the ability to work…at least to the level they anticipate.Referring back to the chart, almost half, 47%, of these individuals said they plan to work for the rest of their lives;Yet, in 2010, according to the US Census Bureau, less than 16% of retirees were part of the labor force.
  • Here are some things you need to know around social security. It can be a very important part of your retirement plan.Individuals who are 62 this year will see their benefits reduced by 25% if they elect to begin receiving benefits in 2011.That penalty increases to 30% for individuals who are 51 this year and are planning to retire at 62.The penalty is even greater for the spouse, should she/he choose to retire at 62 and claim the spousal benefit over their own.There are benefits to delaying retirement.Delayed retirementYou may choose to keep working even beyond your full retirement age. If you do, you can increase your future Social Security benefits in two ways.Each additional year you work adds another year of earnings to your Social Security record. Higher lifetime earnings may mean higher benefits when you retire. Also, your benefit will increase automatically by a certain percentage from the time you reach your full retirement age until you start receiving your benefits or until you reach age 70. The percentage varies depending on your year of birth. For example, if you were born in 1943 or later, we will add 8 percent per year to your benefit for each year that you delay signing up for Social Security beyond your full retirement age. NOTE: If you decide to delay your retirement, be sure to sign up for Medicare at age 65. In some circumstances, medical insurance costs more if you delay applying for it
  • There are strategies that could increase the total benefits over time for individuals who can delay receiving social security benefits until age 70 for at least one of the spouses.Two particular strategies are these:File and Suspend and Claim now, claim more later.For file and suspend, (read slide)Claim now, claim more later works a little differently. Here (read slide)These strategies can increase the cumulative benefit, and are worth considering. Your advisor can look at your personal situation and help you make decisions more effectively around this benefit.
  • One of the most overlooked expenses regarding retirement is healthcare.If you retire early, you’ll have to purchase a health insurance policy that will carry you over until you’re 65 and qualify for Medicare. The associated cost can be very high and the coverage may or may not be as comprehensive as you currently have. These costs should become part of your retirement budget.At 65, most individuals will qualify for Medicare. There are several parts, A, B, D and C, and it can get a bit confusing. But with this coverage, you can expect that only about 50% of your medical expenses will be covered.In fact, a couple between the ages of 65 and 85 can expect to pay $245,000 is expenses that aren’t covered by Medicare.One major component of that expense is the result of the Medicare Pare D shortfall, known as the donut hole.Medigap is private insurance that can be a supplement to Medicare. There are several options and several cost structures. Your advisor can help you effectively make decisions around these options.
  • How many of you change the oil in your car, or perform other maintenance on your car, as needed?I am in the industry, yet I rely on financial counsel to monitor my progress and I ensure that I stay on track and make the best decisions for me and my family around all of the things we’ve already gone over and then some.I hire a mechanic because he specializes in auto repair. I hire a financial advisor because he specializes in financial security.If you aren’t working with an advisor, I’d urge you to begin the process of finding someone who is right for you and will help you reach your financial goals.
  • To investors, there is great value in this relationshipIn a recent survey, 79% of Advised Investors agreed that the value they received from their Financial Advisor was more than worth the cost.In addition, 62% said their portfolio performed better over the past two years compared with most people they know.Even though many Advised Investors seem to feel that their portfolio performed relatively well, improved investment performance is only one area where we as Advisors can add value for our clients..NEXT SLIDE
  • Integrated wealth management involves coordinating all of the interconnected areas of a client’s financial life.Without question, Financial Advisors aim to provide their clients with improved investment results. However, there is an opportunity to add significant value in areas other than investment return.This is the crucial feature of the value of integrated wealth management and it is precisely this point that we must convey to our clients.Let’s take a look at a hypothetical example of how we can add tangible value without increasing a client’s investment returns…
  • Your financial advisor should become a very important part of your life. A couple of things to help you stay organized and work best with your advisor.
  • Your financial advisor can also act as a resource to keeping your most important information organized and available to those you entrust to have access to it when the time comes, either at your death or time of incapacity.Here is a list of items that should be easily accessible by you…
  • According this this statistic, 90% of us will be the sole financial decision maker at some point in our life. Death and Divorce…..two words that our industry thinks about first when they think about working with women. Let’s look quickly at things to keep in mind should you or someone you know be faced with the loss of a spouse through death or divorce.
  • Average age for widows - 56 yearsAverage life expectancy for women – 80.4; Average life expectancy for men – 75.2Review slide and specifically address COBRA:Consolidated Omnibus Budget Reconcilation of 198636 month coverage period
  • Statistic on divorce:50% of all 1st marriages end within 15 years65% of all other marriages end within 5: Cash flow considerations: emergency fund should be in your own nameDivision of property considerations: Taxation of asset, basis of asset and growth potential.
  • It’s important to work with your advisor and estate planning attorney to insure that things are in order at your death, to minimize your estate tax liability and insure that your wealth is transferred according to your wishes.Read Slide
  • For those who have enough wealth to utilize their estate exemption amount ($5mm), a QTIP trust may be an attractive tool to maintain control over remaining assets until the death of the second spouse.A QTIP trust precludes the surviving spouse from assigning the remaining interest.
  • Probably the most important piece of advice that I can offer is to stay on track. Check in with your advisor and see how you’re doing. What has changed that will impact your plan.And speaking of change, let’s look at a couple of non-investment related tidbits that can make your journey that much easier…
  • As a group, women need to continue to position ourselves for greater success. Education is key.While college attendance has increased for all high school graduates, as of the 2008 school year, more women are choosing to go to college than men. This is placing us firmly on more equal grounds. For the first time, there is actually one group where women earn more than men: women <30, with college education earn on average 8% more than their male colleagues.
  • Staying on track also means making sure nothing happens to interfere with your goals. Protecting yourself against identity theft if simply put, good preventative medicine for the savvy investor.Here are four things you can begin doing right now that will minimize the probability of you becoming a victim:Checking account balances should be kept at a minimum……use this account to pay expenses, not to accumulate cash. How many credit cards are you carrying in your wallet today? Consider reducing that to just one, the one with the smallest amount of credit available. If you are planning to shop, of course you may want to modify, but for day-to-day, keep the cards at a minimumGel Pens protect against identity theft. Check washing can be prevented by using gel pens when writing checks. This ink won’t wash off. Secure websites – see next slides
  • Before you enter personal information on a website, make sure it’s secure.Review slide.
  • Staying on track is what so many women are doing today, and very successfullyRead slideIf U.S. based women-owned businesses were their own country, they would have the 5th largest GDP in the world, trailing closely behind Germany, and ahead of countries including France, United Kingdom and Italy.
  • Seven Savvy Secrets…..all within your grasp
  • 7 savvy secrets_rev

    1. 1. Registered Representative, Securities offered through Cambridge Investment Research Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and the Gaxiola Financial Group are not affiliated. Twitter Handle #TGF2012 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS1 not be construed as specific tax, legal, financial planning or investment advice.
    2. 2. Nuveen Investments Wealth Management Services Women and Money: Seven Savvy SECRETS to Financial SuccessThis presentation is provided for informational and educational purposes only and should not beconstrued as specific tax, legal, financial planning or investment advice. © 2011 Nuveen Investments, Inc. For use with Financial Advisors and Clients in Consultation with their Financial Advisors
    3. 3. Agenda Four Generations of Growth and Change Seven Savvy SECRETS to Financial Success This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS3 not be construed as specific tax, legal, financial planning or investment advice.
    4. 4. Four Generations of Growth and Change Growing Up A woman’s attitude towards money is largely based on what society’s expectations were of women during her youth. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS4 not be construed as specific tax, legal, financial planning or investment advice.
    5. 5. Four Generations of Growth and Change How Things Have Stayed The Same Prince Charming Myth When I grow up, I’m going to marry a rich man who will take care of me and I’ll live happily ever after. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS5 not be construed as specific tax, legal, financial planning or investment advice.
    6. 6. Four Generations of Growth and Change How Things Have Stayed The Same Frog to Prince Ratio 50:1 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS6 not be construed as specific tax, legal, financial planning or investment advice.
    7. 7. Seven Savvy SECRETS to Financial Success 1. Solid financial foundation 2. Employment benefits 3. Charitable giving 4. Retirement planning 5. Experienced financial counsel 6. Transition planning 7. Staying on track This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS7 not be construed as specific tax, legal, financial planning or investment advice.
    8. 8. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation Before anything else, preparation is the key to success. – Alexander Graham Bell This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS8 not be construed as specific tax, legal, financial planning or investment advice.
    9. 9. 1. Solid Financial Foundation Emergency Fund • How much do you need? • How should it be invested? • How should it be titled? This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS9 not be construed as specific tax, legal, financial planning or investment advice.
    10. 10. 1. Solid Financial Foundation Managing Credit • Remember Layaway? • Buy now/Pay forever • Managing Debt • Paying Off Debt ‒ Transferring Balances ‒ Payment Strategies This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS10 not be construed as specific tax, legal, financial planning or investment advice.
    11. 11. 1. Solid Financial Foundation Your FICO Score Matters • Why it matters • Monitoring your score This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS11 not be construed as specific tax, legal, financial planning or investment advice.
    12. 12. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits Not taking advantage of an employer’s match is like leaving money on the table This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS12 not be construed as specific tax, legal, financial planning or investment advice.
    13. 13. 2. Employment Benefits Traditional 401(k) • Pre-tax dollars • Contribution Limits • Catch-up Contributions • Employer Matching • Loans • Distributions • Taxation at Time of Distribution This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS13 not be construed as specific tax, legal, financial planning or investment advice.
    14. 14. 2. Employment Benefits Roth 401(k) • After-tax dollars • Contribution Limits • Catch-up Contributions • No Employer Matching • Loans • Distributions • Tax-free Growth This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS14 not be construed as specific tax, legal, financial planning or investment advice.
    15. 15. 2. Employment Benefits Conversion and Rollover Considerations • During employment • After termination of employment Taxation • Converting from Traditional 401(K) to Roth 401(K) • Rollover from traditional 401(K) to Traditional IRA • Rollover from traditional 401(K) to Roth IRA This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS15 not be construed as specific tax, legal, financial planning or investment advice.
    16. 16. 2. Employment Benefits Business Owners and Self Employed Qualified Plans • SEPs and SIMPLEs • Individual 401(k) • Other Nonqualified Plans This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS16 not be construed as specific tax, legal, financial planning or investment advice.
    17. 17. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits 3. C is for Charitable giving Many persons have a wrong idea of what constitutes true happiness. It is not attained through self-gratification but through fidelity to a worthy purpose. –Helen Keller This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS17 not be construed as specific tax, legal, financial planning or investment advice.
    18. 18. 3. Charitable Giving • Single women give more than single men1 • Married men and married women give more than single men2 • Women who participate in donor education programs are more likely to give3 • 70% of all CEOs and Officers of not-for-profit organizations are women4 Sources: 1The 2010 Study of High Net Worth Philanthropy, sponsored by Bank of America Merrill Lynch, researched and written by The Center on Philanthropy at Indiana University, November 2010. This study reflects the attitudes and behaviors of more than 800 respondents throughout the United States with household income greater than $200,000 and/or net worth (excluding the value of their residence) of at least $1,000,000. 2Giving USA, 2010 3“The Case for Better Philanthropy, The Future of Funding for Women and Girls” 4Women & Philanthropy, 2004, and Giving USA, 2006 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS18 not be construed as specific tax, legal, financial planning or investment advice.
    19. 19. 3. Charitable Giving Ways to be Philanthropic Inside every woman is a potential major philanthropist waiting to emerge. –Joan M. Fisher, Philanthropist Simple Direct Support Donor-Advised Private Donations Organizations Funds Complex Foundations This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS19 not be construed as specific tax, legal, financial planning or investment advice.
    20. 20. 3. Charitable Giving Ways of Transferring Wealth 1. Pay As You Go 2. UGMA/UTMA Accounts 3. 529 Savings Plan 2/3 of grandparents say they want to help fund their grandchildren’s education This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS20 not be construed as specific tax, legal, financial planning or investment advice.
    21. 21. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits 3. C is for Charitable giving 4. R is for Retirement planning 57% of women over 65 are facing retirement alone. –Source: U.S. Census Bureau, Current population Survey, Annual Social and Economic Supplement, 2008, Internet release date: June 2009 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS21 not be construed as specific tax, legal, financial planning or investment advice.
    22. 22. 4. Retirement Planning Today’s retirees are responsible for creating the majority of their retirement income On your own 44% 18% 63% 19% 19% Pension Social Secutity Earned Income Investments and other Source: Income of the Aged Chartbook, 2008, Social Security Administration. Chart of key sources of retirement income for households with annual incomes of $56,000 or more. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS22 not be construed as specific tax, legal, financial planning or investment advice.
    23. 23. 4. Retirement Planning Today, individuals are inclined to work beyond age 65 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Plan to work in early retirment years 24% Plan to work throughout entire retirement 47% Plan not to work in retirment 16% Source: “MFS Retirement Survey Shows Income Planning Needed for Pre-Retirees,” MFS Investment Management, March 18, 2008 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS23 not be construed as specific tax, legal, financial planning or investment advice.
    24. 24. 4. Retirement Planning Today, the retirement age reflects that we’re living longer Benefit Reduction Full Retirement Year of Birth1 Retire at Age 622 Age 663 1943-1954 25.00% – 1955 25.83% + 2 months 1956 26.67% + 4 months 1957 27.50% + 6 months 1958 28.36% + 8 months 1959 29.17% + 10 months 1.If you were born on January 1st, you should refer to the previous year. 2.Percentages are approximate due to rounding 3.If you were born on the 1st of the month, we figure the benefit as if your birthday was in the previous month. You must be at least 62 for the entire month to receive benefits. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS24 not be construed as specific tax, legal, financial planning or investment advice.
    25. 25. 4. Retirement Planning Strategies for Maximizing Social Security “File and Suspend” • High earning spouse files for own benefit at FRA to make low earning spouse eligible for spousal benefit • High earning spouse immediately suspends own benefit to earn delayed credits until age 70 “Claim now, claim more later” • High earning spouse claims spousal benefit at age 66 • Low earning spouse filed for own benefit (at FRA) • High earning spouse switches to own benefit at age 70 Source: Horses Mouth, 5 Keys to Profitable Social Security Planning, Elaine Floyd, CFP® 12/9/2010 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS25 not be construed as specific tax, legal, financial planning or investment advice.
    26. 26. 4. Retirement Planning The Medicare Part D Prescription Drug Coverage The Doughnut Hole* – The gap in coverage where the participant must pay 100% of the next $3,610 of prescription drug charges. This results in a total out of pocket expense on the first $6,440 in prescriptions of $4,550. After doughnut hole, coverage resumes with participant paying 5% (after $6,440 in prescriptions) $2,530 $3,610 $6,447.50 *Some coverage variability exists; this is a general description Source: College For Financial Planning This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS26 not be construed as specific tax, legal, financial planning or investment advice.
    27. 27. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits 3. C is for Charitable giving 4. R is for Retirement planning 5. E is for Experienced financial counsel The world is full of experts, but great communicators are always in short supply. –Nick Murray, The New Financial Advisor This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS27 not be construed as specific tax, legal, financial planning or investment advice.
    28. 28. 5. Experienced Financial Counsel What Advised Investors Say The "value I have received from my financial advisor was more 79% than worth the cost“ Their portfolio has done better over the past two years compared 62% with most people they know Advisor "did not explain the risks of the market as well 12% as he/she should have" Source: Envestnet, National surveys of 1,023 investors with $250,000 in assets or more and 504 financial advisors were conducted via the internet between April 14 and 30, 2010 for advisors and April 21 and 27 for investors by the national polling firm of Mathew Greenwald & Associates. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS28 not be construed as specific tax, legal, financial planning or investment advice.
    29. 29. 5. Experienced Financial Counsel Integrated Wealth Management Tax Planning Family Governance Risk Management Legacy Planning Charitable Solutions Retirement Advice Liability Management Investment Guidance Neither Nuveen Investments Wealth Management Services nor its employees offer tax or legal advice. You must consult with your personal legal or tax advisor regarding your personal circumstances.. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS29 not be construed as specific tax, legal, financial planning or investment advice.
    30. 30. 5. Experienced Financial Counsel Build a Relationship with your Financial Advisor • Keep them involved in your progress • Use them as a resource • Take part in review meetings This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS30 not be construed as specific tax, legal, financial planning or investment advice.
    31. 31. 5. Experienced Financial Counsel Know what there is and where to find it • Location of important financial documents and/or computer files • Telephone numbers of financial counselors – Financial Advisor – Accountant – Attorney • Debts and Assets – Dollar amount of your debts and assets – Retirement Assets – Debt repayment schedules • Insurance Coverage – Home owners – Life/Health/Disability/Long term care – Automobile This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS31 not be construed as specific tax, legal, financial planning or investment advice.
    32. 32. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits 3. C is for Charitable giving 4. R is for Retirement planning 5. E is for Experienced financial counsel 6. T is for Transition planning 90% of women will be the sole financial decision-maker at some point in their life. –Source: Center for Women’s Business Research 2006 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS32 not be construed as specific tax, legal, financial planning or investment advice.
    33. 33. 6. Transition Planning Death of a Spouse • General Statistics • Sorting through and making changes to paperwork – Beneficiary – Checking, savings and brokerage accounts – Wills – Powers of Attorney • Health Insurance – COBRA – Individual coverage • Impact of changes to retirement planning – Retirement accounts – Life insurance proceeds – Change in financial goals – Long Term Care This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS33 not be construed as specific tax, legal, financial planning or investment advice.
    34. 34. 6. Transition Planning Divorce • Cash Flow Issues • Distribution of assets and liabilities • After the divorce is final – Sorting through and making changes to paperwork – Understanding impact of changes to retirement planning – Lifestyle changes – Wealth transfer This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS34 not be construed as specific tax, legal, financial planning or investment advice.
    35. 35. 6. Transition Planning Estates and Trusts • Estate Planning – Distribution of wealth after passing – Estate, gift, and generation-skipping transfer taxes – Estate tax exclusion amount – Titling of assets – Probate process – Planning for disability or incapacity • Trusts – Benefits and costs – Role in estate planning – Common types This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS35 not be construed as specific tax, legal, financial planning or investment advice.
    36. 36. 6. Transition Planning Specific Concerns for Female Creators of Wealth Wealth Transfer Strategies - Qualified Terminal Interest Property (QTIP) Available Exemption Amount Credit Shelter Beneficiaries Trust At the death of the second spouse Children of First QTIP Trust Marriage Balance Unlimited Martial Deduction This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS36 not be construed as specific tax, legal, financial planning or investment advice.
    37. 37. Seven Savvy SECRETS to Financial Success 1. S is for Solid financial foundation 2. E is for Employment benefits 3. C is for Charitable giving 4. R is for Retirement planning 5. E is for Experienced financial counsel 6. T is for Transition planning 7. S is for Stay on track Even if youre on the right track, youll get run over if you just sit there –Will Rogers This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS37 not be construed as specific tax, legal, financial planning or investment advice.
    38. 38. 7. Staying on Track Female College Enrollment Total Fall Enrollment in Degree-Granting Institutions 60% 56% 57% 54% 50% 40% 40% 29% 30% 20% 10% 0% 1947 1967 1987 1997 2008 Source: U.S. Department of Education, National Center for Education Statistics, Biennial Survey of Education in the United States; Opening Fall Enrollment in Higher Education, 1963 through 1965; Higher Education General Information Survey (HEGIS), "Fall Enrollment in Colleges and Universities" surveys, 1966 through 1985; and 1986 through 2008 Integrated Postsecondary Education Data System, "Fall Enrollment Survey" (IPEDS-EF:86-99), and Spring 2001 through Spring 2009. (This table was prepared September 2009.) This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS38 not be construed as specific tax, legal, financial planning or investment advice.
    39. 39. 7. Staying on Track Guarding Against Identity Theft • Checking Account Balance • What’s in your wallet? • Gel Pens • Secure Websites Handbag image This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS39 not be construed as specific tax, legal, financial planning or investment advice.
    40. 40. 7. Staying on Track What is a secure website? • HTTPS (Hyper Text Transfer Protocol Secure) is a secure version of the Hyper Text Transfer Protocol (http). • Secure means of transferring data where secure ecommerce transactions, such as online banking transactions and other financial transactions are involved. • https:// = Secure Site • Don’t forget to check for the “S” http/https image This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS40 not be construed as specific tax, legal, financial planning or investment advice.
    41. 41. 7. Staying on Track In 2009, 8 million firms were at least 50% owned by women Employing more than 23 million workers Generating nearly $3 trillion in revenues to the U.S. economy Source: Center for Women’s Business Research, “The Economic Impact of Women-Owned Businesses in the United States”, October 2009 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS41 not be construed as specific tax, legal, financial planning or investment advice.
    42. 42. Seven Savvy SECRETS to Financial Success 1. Solid financial foundation 2. Employment benefits 3. Charitable giving 4. Retirement planning 5. Experienced financial counsel 6. Transition planning 7. Staying on track This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS42 not be construed as specific tax, legal, financial planning or investment advice.
    43. 43. Resources • Women & Money, Owning the Power to Control Your Destiny, Suze Orman, 2007 • Women Don’t Ask, Linda Babcock and Sara Laschever, 2007 • Reinventing Fundraising: Realizing the Potential of Women’s Philanthropy, Sondra C. Shaw and Martha A. Taylor, 1995 • Women’s Philanthropy Institute: http://www.philanthropy.iupui.edu/philanthropicservices/WPI/ • Pink Magazine: http://www.pinkmagazine.com The opinions expressed in these resources do not necessarily reflect the views of Nuveen Investments. Nuveen assumes no liability for the content of any resource provided, including, without limitation, the accuracy, subject matter, quality or timeliness of the content. The fact that such resources have been provided does not constitute an endorsement, authorization, sponsorship by or affiliation with Nuveen with respect to any resource provided or its sponsor. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS43 not be construed as specific tax, legal, financial planning or investment advice.
    44. 44. Glossary of Terms 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. It is named after section 529 of the Internal Revenue Code. The detailed behavior of 529 plans is determined by state legislation, and while most plans allow investors from out of state, there can be significant state tax advantages and other benefits, such as matching grant and scholarship opportunities, protection from creditors and exemption from state financial aid calculations, for investors who invest in 529 plans within their state of residence. Donor-Advised Fund is a charitable giving vehicle set up under the tax umbrella of a public charity, which acts as sponsor to many Funds. Private Family Foundation has an endowment fund with which it invests and then uses the investment returns to fund public charities. If a private foundation does not invest in public charities then the private foundation may directly perform the function of a public charity by using the investment returns as the funding. Private Operating Foundation is any private foundation that spends at least 85% of its adjusted net income or its minimum investment return, whichever is less, directly for the active conduct of its exempt activities. Certain private foundations that provide long-term care facilities are treated as operating foundations only for the purposes of the excise tax on failure to distribute income. A Qualified Terminal Interest Property Trust or “QTIP” is an irrevocable trust that is created at the death of the grantor, often in conjunction with a Credit Shelter Trust. It can be drafted to preclude the surviving spouse from appointing the remainder to a second spouse or children from a second marriage. Roth 401(K) is a type of employer-sponsored retirement plan that allows a worker to save for retirement on a post-tax elective deferral basis. Supporting organization is a public charity created by the U.S. Internal Revenue Code in 26 USCA 509(a)(3). A supporting organization either makes grants to, or performs the operations of, a public charity similar to a private foundation. Traditional 401(K) is a type of employer-sponsored retirement plan that allows a worker to save for retirement while deferring income taxes on the saved money and earnings until withdrawal. All assets in 401(k) plans are tax deferred. UGMA/UTMA state laws that allow any adult to contribute to a custodian account in a minor childs name without having to name a legal guardian or establish a trust. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS44 not be construed as specific tax, legal, financial planning or investment advice.
    45. 45. Important Disclosures For use by financial advisors and clients in consultation with their financial advisors. Clients should consult their financial advisors regarding any unknown terms and concepts. Financial advisors should consider the suitability of the manager, strategy and program for its clients on an initial and ongoing basis. This presentation is provided for educational and informational purposes only, and should not be construed as specific tax, legal, financial planning or investment advice. The statements contained herein are the opinions of Nuveen Investments Wealth Management Services. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Please note that this information should not replace a client’s consultation with a professional advisor regarding their tax situation. Nuveen is not a tax advisor. Clients should consult their professional advisors before making any tax or investment decisions. This presentation should not be regarded by recipients as a substitute for the exercise of their own judgment. This presentation contains numerous assumptions. Different assumptions could result in materially different results. Neither Nuveen Investments nor any of its affiliates, directors, employees or agents accepts any liability for any loss or damage arising out of the use of all or any part of this presentation. Certain information was obtained from third party sources, which we believe to be reliable but not guaranteed. All investments carry a certain degree of risk, including possible loss of principal, and there is no assurance than an investment will provide positive performance over any period of time. Past performance is no guarantee of future results. This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS45 not be construed as specific tax, legal, financial planning or investment advice.
    46. 46. Nuveen Investments Wealth Management ServicesWomen and Money:Seven Savvy SECRETS to Financial Success This presentation is provided for informational and educational purposes only and should not be construed as specific tax, legal, financial planning or investment advice. 06/11 For use with Financial Advisors and Clients in Consultation with their Financial Advisors
    47. 47. Registered Representative, Securities offered through Cambridge Investment Research Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and the Gaxiola Financial Group are not affiliated. Twitter Handle #TGF2012 This presentation is provided for informational and educational purposes only and should NUVEEN INVESTMENTS47 not be construed as specific tax, legal, financial planning or investment advice.

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