This document discusses financial challenges women often face and provides advice on how to take charge of one's financial future. It notes that while women have made progress in the workforce and education, they still face challenges such as lower lifetime earnings, longer lifespans, and greater risks of single parenthood and caregiving responsibilities. The document recommends that women save as much as possible starting early, become knowledgeable investors, advocate for themselves in the workplace, plan for retirement including Social Security, protect their income and assets with insurance, and create an estate plan. Taking control of finances, getting educated, and working with advisors can help women overcome challenges and achieve financial security.
This document discusses financial challenges unique to women and provides advice on how women can take charge of their financial future. It notes that while women face some challenges like longer lifespans and lower pay, they are now in a strong position to achieve financial security. It recommends that women save for retirement through employer plans and IRAs, advocate for fair pay, and create an estate plan to protect assets from unexpected life events. Taking control of finances, becoming an informed investor, planning for retirement needs, securing adequate insurance, and getting professional guidance are emphasized as keys to financial success.
The document discusses achieving financial security in the current economic environment, referred to as the "new normal". It describes the "new normal" as a period of slow economic growth, low stock market returns, high unemployment, and declining asset values. It then provides an overview of basic personal finance principles like budgeting, setting SMART goals, investing for retirement, and diversifying investments. The document emphasizes starting to save and invest early in order to take advantage of compound interest over time.
Women live 5 years longer, on average, than men. Planning your own retirement is crucial to living the life you want to live.... the way you want to live it. Call us, let's talk.
This document provides information for women on planning for retirement. It discusses considerations like caring for family members, health concerns, and financial challenges women often face in retirement like lower savings and longer lifespans. It emphasizes starting retirement planning early through contributing to retirement accounts and establishing healthy financial habits. The document also provides tips and resources for women of all ages to stay on track with retirement planning and savings goals.
This document discusses financial challenges unique to women and provides advice on how women can take charge of their financial future. It outlines that while women live longer on average and typically earn less than men, factors such as higher levels of education and increasing roles in the workforce are reasons for optimism. However, women still face challenges like lower lifetime earnings, taking breaks to caregive, and longer lifespans requiring savings to last longer. The document recommends that women take control of finances, become knowledgeable investors, advocate for themselves, plan for retirement, protect assets, and create an estate plan to achieve financial security. It also suggests working with a financial professional.
Proper financial planning critical for womenjolie111
A key goal of investing for retirement is making sure you save enough to make your money last throughout your lifetime. On this score, women may need to save more than men.
1. The document discusses planning and saving for retirement, including estimating costs of one's desired lifestyle and identifying sources of retirement income such as pensions, 401ks, IRAs, Social Security, and other savings vehicles.
2. It explains compound interest and its power to grow savings over time, demonstrating concepts like the Rule of 72.
3. The importance of starting to save and plan for retirement early is emphasized.
This document discusses financial challenges unique to women and provides advice on how women can take charge of their financial future. It notes that while women face some challenges like longer lifespans and lower pay, they are now in a strong position to achieve financial security. It recommends that women save for retirement through employer plans and IRAs, advocate for fair pay, and create an estate plan to protect assets from unexpected life events. Taking control of finances, becoming an informed investor, planning for retirement needs, securing adequate insurance, and getting professional guidance are emphasized as keys to financial success.
The document discusses achieving financial security in the current economic environment, referred to as the "new normal". It describes the "new normal" as a period of slow economic growth, low stock market returns, high unemployment, and declining asset values. It then provides an overview of basic personal finance principles like budgeting, setting SMART goals, investing for retirement, and diversifying investments. The document emphasizes starting to save and invest early in order to take advantage of compound interest over time.
Women live 5 years longer, on average, than men. Planning your own retirement is crucial to living the life you want to live.... the way you want to live it. Call us, let's talk.
This document provides information for women on planning for retirement. It discusses considerations like caring for family members, health concerns, and financial challenges women often face in retirement like lower savings and longer lifespans. It emphasizes starting retirement planning early through contributing to retirement accounts and establishing healthy financial habits. The document also provides tips and resources for women of all ages to stay on track with retirement planning and savings goals.
This document discusses financial challenges unique to women and provides advice on how women can take charge of their financial future. It outlines that while women live longer on average and typically earn less than men, factors such as higher levels of education and increasing roles in the workforce are reasons for optimism. However, women still face challenges like lower lifetime earnings, taking breaks to caregive, and longer lifespans requiring savings to last longer. The document recommends that women take control of finances, become knowledgeable investors, advocate for themselves, plan for retirement, protect assets, and create an estate plan to achieve financial security. It also suggests working with a financial professional.
Proper financial planning critical for womenjolie111
A key goal of investing for retirement is making sure you save enough to make your money last throughout your lifetime. On this score, women may need to save more than men.
1. The document discusses planning and saving for retirement, including estimating costs of one's desired lifestyle and identifying sources of retirement income such as pensions, 401ks, IRAs, Social Security, and other savings vehicles.
2. It explains compound interest and its power to grow savings over time, demonstrating concepts like the Rule of 72.
3. The importance of starting to save and plan for retirement early is emphasized.
Lisa Brugman presented on women and investing. She discussed investment basics like stocks, bonds, mutual funds and annuities. Her presentation emphasized that women should save 12% annually starting as early as possible to build a retirement fund. She also stressed the importance of having an emergency fund, proper insurance, and speaking to a financial advisor to plan goals and dreams. Smart women can finish rich by paying themselves first and taking advantage of tax-advantaged retirement accounts and the power of compound interest over time.
This document provides guidance on avoiding common mistakes in retirement planning and generating retirement income. Some key mistakes include underestimating life expectancy, failing to account for healthcare costs, and having returns that are too low. The document recommends estimating expenses, totaling income sources, and adjusting plans if there is a shortfall. Sources of retirement income that can be controlled include CDs, annuities, mortgage-backed securities, and municipal bonds, with annuities and mortgage-backed securities providing higher guaranteed rates of return.
This document discusses strategies for achieving financial goals through proper financial planning. It notes that many life goals like funding education, home ownership, or retirement require a sound financial strategy. The document then discusses services offered through World Financial Group (WFG) to help individuals assess their needs and create a customized plan. Key services and products mentioned include assessing cash flow, managing expenses, debt reduction, life insurance, retirement planning, and investment options. The overall message is that taking control of finances now through working with WFG can help achieve future dreams and goals.
This document provides seven steps to financial wellness and managing money-related stress. It discusses how financial problems can negatively impact health, and outlines major causes of financial stress like job loss fears and debt. It recommends prioritizing savings over spending, creating a budget, planning for life events, seeking advice, participating in employer benefits, and choosing investments that don't cause anxiety. Regular exercise, a healthy diet, and deep breathing can help cope with financial stress-related health issues.
The document discusses retirement planning and provides guidance on estimating retirement costs and investment options. It notes that people should plan early for retirement as the corpus needed is significant. Monthly retirement expenses of Rs. 20,000-80,000 would require investments of Rs. 483572-1934288 today at 8% return to last 30 years in retirement. Investment avenues discussed include PPF, SIPs, debt funds, annuity plans, and senior citizen savings schemes. Proper planning is necessary to ensure funds are available to live comfortably after stopping work.
Laura Scharr-Bykowsky presented on retirement planning and improving financial health. She discussed typical symptoms of being unprepared for retirement like inadequate savings and no clear retirement vision. She emphasized the importance of doing a retirement calculation and "gap analysis" to determine savings goals. Early savers have a significant advantage over late savers due to compound interest. Her recommendations included developing a retirement vision, estimating expenses, analyzing savings gaps, maximizing retirement accounts and Social Security benefits, and reconsidering retirement dates or expenses if savings fall short of goals.
This document provides financial advice for newlywed couples on various topics including budgeting, investing, buying a home, and planning for a family. It emphasizes the importance of open communication about finances between partners and suggests couples create a joint budget, share financial responsibilities, and find a process that works for their unique situation. Specific tips are provided on budgeting, common investment products and strategies, factors to consider when buying a home, and financial aspects of planning for a family. The overall message is that discovering each partner's financial attitudes, experiences, and goals early in the relationship can help prevent later stress and arguments.
This document provides an overview of financial wellness programs. It discusses how financial stress affects employees and employers, and the benefits of implementing a financial wellness program, including decreased turnover and increased productivity. It describes the key components of an effective program, such as creating awareness, providing education, and promoting behavior change. It also covers measuring impact, starting a program, and basic concepts in financial education like budgeting, savings, and loans. The overall purpose is to train people to implement successful workplace financial wellness initiatives.
- People tend to discount future rewards and prefer immediate rewards, meaning they are more likely to cancel a future vacation for an even better future vacation rather than cancel a soon vacation for a better future one. This "hyperbolic discounting" can lead to overconsumption and under-saving.
- Automatic enrollment and automatic contribution increases in retirement plans can help counter this tendency by making saving the default option and gradually increasing contributions over time in a way that feels low-cost to employees.
- A real 401(k) plan found that participants in a program with automatic contribution escalators had the highest savings rates that were sustained over time, showing the effectiveness of this pre-commitment approach.
The document provides an overview of key retirement planning considerations including longevity and health, spending and inflation, investment returns, and health costs. It notes that Canadians are living longer, retiring earlier, and may need to fund 20 years of retirement from 40 years of work. Key pieces of advice include diversifying investments, planning for higher costs due to inflation, and considering health and long-term care needs as these unknowns can significantly impact retirement. Developing a customized retirement plan is recommended to help navigate future uncertainties.
The document discusses various concepts related to financial wellness including wellness, well-being, financial capability, fitness, health, well-being, and financial wellness. It provides definitions for each term and discusses how they are similar and related. Measures and assessment tools for each concept are also presented. Research that has been conducted on relationships between personal health behaviors and financial behaviors is summarized. The document concludes by providing 12 ways that individuals can improve their financial wellness.
This document provides an overview of 10 reasons for meeting with the financial advisors to review one's financial plan. It discusses ensuring annual reviews are conducted, assessing risks that could impact one's family, reviewing retirement plans, long term healthcare needs, and encouraging positive values in children through a trust. The advisors aim to provide a comprehensive review of finances and bring all aspects like tax, insurance, estate planning into alignment. The overall message is the importance of regular financial reviews.
Women now have higher levels of education and career achievement than ever before. However, they still face unique financial challenges like earning less over their lifetime and living longer than men. The document provides seven strategies for women to take control of their financial future: 1) maximize value by using a financial advisor; 2) take control of finances by starting to save and invest now; 3) diversify investments for growth potential and risk management; 4) plan taxes strategically using tax-advantaged accounts; 5) create an estate plan with wills and trusts; 6) plan for retirement income needs with guaranteed lifetime income options; and 7) seek stability in retirement with a mix of guaranteed and market-linked investments.
This document provides strategies to help women take control of their financial future. It discusses the unique strengths and challenges women face, such as higher education levels but lower lifetime earnings. It then offers 7 strategies, including maximizing value through financial guidance, taking control of finances by starting to save now, diversifying investments to benefit from compound growth, and reducing taxes by using tax-deferred vehicles like variable annuities. The strategies are meant to help women attain greater financial security.
Is a financial wellness benefit really worth it? teamedukate
Measuring the ROI of a financial wellness benefit in hard-dollars isn't always possible. So, how do you measure the success of a financial wellness initiative, right?
We'll help you understand what metrics to measure before, during, and after the implementation of any financial wellness initiative. You’ll leave feeling more confident about how to measure and reduce the cost of financial stress in your workplace.
You'll Learn
How to calculate the hidden cost of financial stress in your workplace.
What employees want and don’t want from a financial wellness benefit.
What metrics show if your financial wellness benefit is actually helping employees and providing a return to your workplace.
World Financial Group, Inc. is a financial services marketing company that offers various financial products and services through its affiliates. It has insurance agency affiliates in several states that offer insurance products. World Financial Group, Inc. and its insurance affiliates are affiliated companies headquartered in Johns Creek, Georgia.
Este documento resume las observaciones de un estudiante de maestría durante su práctica docente en una escuela secundaria. Describe el ambiente y dinámicas de tres grupos observados, incluyendo el comportamiento de los estudiantes, la relación con los maestros y el uso del tiempo. También incluye entrevistas cortas con estudiantes de los tres grados sobre sus expectativas, materias favoritas y actitudes de maestros que les desagradan.
Presentación que nos habla más a detalle de la Licwenciatura en Ciencias Juridicas, de las clases dem Orientación Vocacional del Programa Oportunidades en El Salvador, Fundacion Gloria de Kriete.
Este documento presenta diferentes tipos de investigación de mercado, incluyendo investigación de gabinete, científica, cuantitativa, de campo, económica, social, experimental, no experimental, descriptiva, histórica, exploratoria, predictiva, explicativa, cualitativa y cuasi experimental. Explica las características y objetivos de cada tipo.
Social realism focused on depicting social issues and everyday struggles during the 1930s-1960s in America. It was influenced by European realism and traced back to Britain's industrial revolution. Major events like the Great Depression and Mexican Revolution influenced social realist artists to depict economic hardships, social injustice, and anti-war themes through the works of Grant Wood, Dorothea Lange, Thomas Hart Benton, and Ben Shahn. Their realistic paintings and photographs brought awareness to the public while also receiving some criticism.
This document provides an overview of Apache Samza, an open source stream processing framework. It discusses why stream processing is useful, Samza's design of processing streams of data across jobs and tasks, how its design is implemented using Apache Kafka for messaging and YARN for resource management, and how to use Samza by developing stream and stateful tasks.
Este documento presenta una serie de redes sociales, incluyendo Facebook, Twitter, LinkedIn, Ning, Badoo, Classmates y Orkut. Describe brevemente el propósito, características y funcionalidades clave de cada una.
Lisa Brugman presented on women and investing. She discussed investment basics like stocks, bonds, mutual funds and annuities. Her presentation emphasized that women should save 12% annually starting as early as possible to build a retirement fund. She also stressed the importance of having an emergency fund, proper insurance, and speaking to a financial advisor to plan goals and dreams. Smart women can finish rich by paying themselves first and taking advantage of tax-advantaged retirement accounts and the power of compound interest over time.
This document provides guidance on avoiding common mistakes in retirement planning and generating retirement income. Some key mistakes include underestimating life expectancy, failing to account for healthcare costs, and having returns that are too low. The document recommends estimating expenses, totaling income sources, and adjusting plans if there is a shortfall. Sources of retirement income that can be controlled include CDs, annuities, mortgage-backed securities, and municipal bonds, with annuities and mortgage-backed securities providing higher guaranteed rates of return.
This document discusses strategies for achieving financial goals through proper financial planning. It notes that many life goals like funding education, home ownership, or retirement require a sound financial strategy. The document then discusses services offered through World Financial Group (WFG) to help individuals assess their needs and create a customized plan. Key services and products mentioned include assessing cash flow, managing expenses, debt reduction, life insurance, retirement planning, and investment options. The overall message is that taking control of finances now through working with WFG can help achieve future dreams and goals.
This document provides seven steps to financial wellness and managing money-related stress. It discusses how financial problems can negatively impact health, and outlines major causes of financial stress like job loss fears and debt. It recommends prioritizing savings over spending, creating a budget, planning for life events, seeking advice, participating in employer benefits, and choosing investments that don't cause anxiety. Regular exercise, a healthy diet, and deep breathing can help cope with financial stress-related health issues.
The document discusses retirement planning and provides guidance on estimating retirement costs and investment options. It notes that people should plan early for retirement as the corpus needed is significant. Monthly retirement expenses of Rs. 20,000-80,000 would require investments of Rs. 483572-1934288 today at 8% return to last 30 years in retirement. Investment avenues discussed include PPF, SIPs, debt funds, annuity plans, and senior citizen savings schemes. Proper planning is necessary to ensure funds are available to live comfortably after stopping work.
Laura Scharr-Bykowsky presented on retirement planning and improving financial health. She discussed typical symptoms of being unprepared for retirement like inadequate savings and no clear retirement vision. She emphasized the importance of doing a retirement calculation and "gap analysis" to determine savings goals. Early savers have a significant advantage over late savers due to compound interest. Her recommendations included developing a retirement vision, estimating expenses, analyzing savings gaps, maximizing retirement accounts and Social Security benefits, and reconsidering retirement dates or expenses if savings fall short of goals.
This document provides financial advice for newlywed couples on various topics including budgeting, investing, buying a home, and planning for a family. It emphasizes the importance of open communication about finances between partners and suggests couples create a joint budget, share financial responsibilities, and find a process that works for their unique situation. Specific tips are provided on budgeting, common investment products and strategies, factors to consider when buying a home, and financial aspects of planning for a family. The overall message is that discovering each partner's financial attitudes, experiences, and goals early in the relationship can help prevent later stress and arguments.
This document provides an overview of financial wellness programs. It discusses how financial stress affects employees and employers, and the benefits of implementing a financial wellness program, including decreased turnover and increased productivity. It describes the key components of an effective program, such as creating awareness, providing education, and promoting behavior change. It also covers measuring impact, starting a program, and basic concepts in financial education like budgeting, savings, and loans. The overall purpose is to train people to implement successful workplace financial wellness initiatives.
- People tend to discount future rewards and prefer immediate rewards, meaning they are more likely to cancel a future vacation for an even better future vacation rather than cancel a soon vacation for a better future one. This "hyperbolic discounting" can lead to overconsumption and under-saving.
- Automatic enrollment and automatic contribution increases in retirement plans can help counter this tendency by making saving the default option and gradually increasing contributions over time in a way that feels low-cost to employees.
- A real 401(k) plan found that participants in a program with automatic contribution escalators had the highest savings rates that were sustained over time, showing the effectiveness of this pre-commitment approach.
The document provides an overview of key retirement planning considerations including longevity and health, spending and inflation, investment returns, and health costs. It notes that Canadians are living longer, retiring earlier, and may need to fund 20 years of retirement from 40 years of work. Key pieces of advice include diversifying investments, planning for higher costs due to inflation, and considering health and long-term care needs as these unknowns can significantly impact retirement. Developing a customized retirement plan is recommended to help navigate future uncertainties.
The document discusses various concepts related to financial wellness including wellness, well-being, financial capability, fitness, health, well-being, and financial wellness. It provides definitions for each term and discusses how they are similar and related. Measures and assessment tools for each concept are also presented. Research that has been conducted on relationships between personal health behaviors and financial behaviors is summarized. The document concludes by providing 12 ways that individuals can improve their financial wellness.
This document provides an overview of 10 reasons for meeting with the financial advisors to review one's financial plan. It discusses ensuring annual reviews are conducted, assessing risks that could impact one's family, reviewing retirement plans, long term healthcare needs, and encouraging positive values in children through a trust. The advisors aim to provide a comprehensive review of finances and bring all aspects like tax, insurance, estate planning into alignment. The overall message is the importance of regular financial reviews.
Women now have higher levels of education and career achievement than ever before. However, they still face unique financial challenges like earning less over their lifetime and living longer than men. The document provides seven strategies for women to take control of their financial future: 1) maximize value by using a financial advisor; 2) take control of finances by starting to save and invest now; 3) diversify investments for growth potential and risk management; 4) plan taxes strategically using tax-advantaged accounts; 5) create an estate plan with wills and trusts; 6) plan for retirement income needs with guaranteed lifetime income options; and 7) seek stability in retirement with a mix of guaranteed and market-linked investments.
This document provides strategies to help women take control of their financial future. It discusses the unique strengths and challenges women face, such as higher education levels but lower lifetime earnings. It then offers 7 strategies, including maximizing value through financial guidance, taking control of finances by starting to save now, diversifying investments to benefit from compound growth, and reducing taxes by using tax-deferred vehicles like variable annuities. The strategies are meant to help women attain greater financial security.
Is a financial wellness benefit really worth it? teamedukate
Measuring the ROI of a financial wellness benefit in hard-dollars isn't always possible. So, how do you measure the success of a financial wellness initiative, right?
We'll help you understand what metrics to measure before, during, and after the implementation of any financial wellness initiative. You’ll leave feeling more confident about how to measure and reduce the cost of financial stress in your workplace.
You'll Learn
How to calculate the hidden cost of financial stress in your workplace.
What employees want and don’t want from a financial wellness benefit.
What metrics show if your financial wellness benefit is actually helping employees and providing a return to your workplace.
World Financial Group, Inc. is a financial services marketing company that offers various financial products and services through its affiliates. It has insurance agency affiliates in several states that offer insurance products. World Financial Group, Inc. and its insurance affiliates are affiliated companies headquartered in Johns Creek, Georgia.
Este documento resume las observaciones de un estudiante de maestría durante su práctica docente en una escuela secundaria. Describe el ambiente y dinámicas de tres grupos observados, incluyendo el comportamiento de los estudiantes, la relación con los maestros y el uso del tiempo. También incluye entrevistas cortas con estudiantes de los tres grados sobre sus expectativas, materias favoritas y actitudes de maestros que les desagradan.
Presentación que nos habla más a detalle de la Licwenciatura en Ciencias Juridicas, de las clases dem Orientación Vocacional del Programa Oportunidades en El Salvador, Fundacion Gloria de Kriete.
Este documento presenta diferentes tipos de investigación de mercado, incluyendo investigación de gabinete, científica, cuantitativa, de campo, económica, social, experimental, no experimental, descriptiva, histórica, exploratoria, predictiva, explicativa, cualitativa y cuasi experimental. Explica las características y objetivos de cada tipo.
Social realism focused on depicting social issues and everyday struggles during the 1930s-1960s in America. It was influenced by European realism and traced back to Britain's industrial revolution. Major events like the Great Depression and Mexican Revolution influenced social realist artists to depict economic hardships, social injustice, and anti-war themes through the works of Grant Wood, Dorothea Lange, Thomas Hart Benton, and Ben Shahn. Their realistic paintings and photographs brought awareness to the public while also receiving some criticism.
This document provides an overview of Apache Samza, an open source stream processing framework. It discusses why stream processing is useful, Samza's design of processing streams of data across jobs and tasks, how its design is implemented using Apache Kafka for messaging and YARN for resource management, and how to use Samza by developing stream and stateful tasks.
Este documento presenta una serie de redes sociales, incluyendo Facebook, Twitter, LinkedIn, Ning, Badoo, Classmates y Orkut. Describe brevemente el propósito, características y funcionalidades clave de cada una.
Goals of time management- College Success class- 2013.joshua4pr
The document provides seven suggestions for effectively managing time:
1. Be organized by using time-saving tools like calendars and to-do lists, having an organized workspace, and scheduling all tasks including study time.
2. Plan ahead by determining how long tasks will take, combining activities when possible, and breaking large tasks into smaller ones.
3. Prioritize tasks by using an A-B-C rating system and setting both short-term and long-term goals.
4. Avoid overload by scheduling rest, relaxation, breaks, and saying no when needed to prevent cramming or procrastination.
5. Practice effective study techniques such as having an appropriate environment, splitting large tasks, and doing difficult work
El programa Bancóldex Capital tiene como objetivos promover nuevas fuentes de financiamiento a largo plazo para empresas colombianas a través de capital privado, promover la industria de fondos de capital privado en Colombia, y atraer nuevos inversionistas. Bancóldex Capital ha analizado 38 fondos, ha realizado siete compromisos de inversión por más de $85 mil millones de pesos en diferentes sectores, y ha movilizado $808 mil millones en fondos de capital privado, multiplicando por 9.4 veces su inversión inicial.
This document summarizes different methods for screening DNA libraries to identify specific clones. It discusses screening by hybridization using radioactive probes or alternative labeling methods. It also describes screening by PCR using gene-specific primers and screening expression libraries using antibodies that recognize antigenic determinants on expressed polypeptides. Screening methods like Southwestern and Northwestern blotting combine principles of Southern/Western blots to identify DNA or RNA binding proteins. The goal of these screening methods is to efficiently identify clones containing specific DNA sequences or expressing desired proteins from large DNA libraries.
Protein databases can contain either sequence or structure information. Some key protein sequence databases include PIR, Swiss-Prot, and TrEMBL. PIR classifies entries by annotation level, Swiss-Prot aims to provide high annotation levels and interlink information, and TrEMBL contains all coding sequences with some entries eventually incorporated into Swiss-Prot. Important structure databases are PDB, which contains 3D protein structures, and SCOP and CATH, which classify evolutionary and structural relationships between protein domains.
Forestry has historically been an important industry for Belize's economy, but unsustainable logging practices have depleted many of its native tree species. While the government has taken steps toward reforestation and regulations, Belize continues to lose about 1-1.5% of its forest area annually due to illegal logging and other issues. The forestry sector now focuses on exporting wood products from introduced pine and mahogany plantations.
Presentar mediante cuestionarios información básica de "Las Tecnologías de Información (TI)" como herramientas y métodos empleados para recabar, retener, manipular o distribuir información.
Programa gestion documental san luis antioquiajhonaloe
El documento presenta el Programa de Gestión Documental del Municipio de San Luis Antioquia, el cual tiene como objetivo normalizar de forma sistemática el programa para orientar a las dependencias y hacer más eficiente su implantación. El programa define los procesos durante el ciclo vital del documento, las actividades, flujos de información y formatos aplicables, además de estructurar la metodología y procedimientos para su desarrollo en la Alcaldía Municipal.
El documento establece las pautas para establecer brigadas de emergencia en una empresa. Describe los objetivos de prevenir y mitigar el impacto de desastres. Explica que se requieren brigadas de evacuación, primeros auxilios, prevención de incendios y comunicación. Detalla las funciones, características y equipamiento de cada brigada para responder de manera organizada y efectiva ante una emergencia.
El documento describe diferentes estructuras de repetición como mientras, hacer-mientras, repita-hasta y para. Explica que estas estructuras permiten ejecutar un bloque de instrucciones de manera repetida según una condición. Luego, detalla cada una de estas estructuras y provee ejemplos para ilustrar su uso en la resolución de problemas que involucran ciclos.
This document provides an overview of a presentation on taking control of one's financial future. The agenda covers planning for the future, protection, wealth accumulation, retirement planning, estate planning, and business planning. It emphasizes starting financial planning early, having protection through insurance and savings, maximizing savings potential over a lifetime, and developing a comprehensive plan to meet financial goals. Regular monitoring and adjustments are important as circumstances change. Working with a financial professional can help navigate complex financial issues.
Women have never been in a better position to achieve financial security for themselves and their families. Women need to take advantage of this position and educate themselves about finances, seek professional help when needed, and implement plans to ensure that they and their families will have financially secure lives.
The document provides 10 principles for developing a long-term financial strategy to protect a family's financial security. It recommends prioritizing protection through insurance, saving money regularly through employer plans or mutual funds, and keeping debt in check. It also suggests implementing a simple investment strategy with diversified holdings, understanding employee benefits, planning for education costs, utilizing tax-advantaged savings options, and seeking help from a financial professional. The overall goal is to develop a strategy to safeguard a family's standard of living and ability to achieve important goals.
Women Money Power Client Presentation Ent374 0409marketmann
1. The document discusses why having a financial strategy is important at different life stages and events. It highlights evolving roles for women in education and careers that impact financial needs.
2. It describes common "financial personalities" and encourages readers to identify their own personality to help shape financial goals.
3. The document provides tips for getting started with a financial professional, including preparing goals and concerns, inviting a partner, and completing a financial personality worksheet.
The document discusses financial literacy topics and challenges for different demographic groups. It outlines 10 curriculum areas for financial literacy including managing money, credit cards, retirement planning, and estate planning. It emphasizes that women and minority groups face unique financial challenges such as earning less and having greater caregiving responsibilities. The document encourages attendees to take financial literacy courses and share financial information with others to gain control of their financial futures.
PROTECT YOUR FAMILY’S FINANCIAL SECURITY IN TOUGH TIMEScutickfinancial
https://cutickfinancial.com - Financial security is the comfort of knowing your family’s standard of living is secure even when a life-changing event occurs. It is also about having the means to achieve your most important goals, like owning a home or sending your children to college. Many of us are working hard to reach those goals. Some of us may have achieved them. But ongoing economic turmoil has been a rude wake-up call for all of us. We have seen events beyond our control decimate our savings and retirement accounts, knock down the value of our homes and diminish our job security
1. The document provides information about financial planning services offered by Turenne Joseph, a financial advisor with Investors Group. It discusses various financial topics and risks women may face.
2. Building wealth, protecting assets, and planning for retirement and legacy are important topics to discuss with a financial advisor. Insufficient planning can leave one vulnerable.
3. Meeting regularly with a financial planner allows them to ensure one's investments, insurance, and estate plan align with their goals and risk tolerance over the long term. Asking the right questions is important to financial security.
This document outlines four steps to achieving financial security: 1) control your expenses by spending less than you earn, 2) increase your income through career advancement, 3) reduce debt and build savings, and 4) control risks through proper insurance. It then provides additional guidance on applying these steps at different life stages from your 20s through retirement. The overall message is that consistently following a plan of spending control, income growth, debt reduction, and risk management can lead one to the goal of financial security.
If you are between 25- 45 yrs. of Age,Working & Serious about achieving success in your Financial Future, here are some guidelines.......... which can help you.
The document provides strategies for surviving financially through difficult economic times. It outlines 5 cash flow strategies, 5 investment strategies, and 3 retirement strategies. The cash flow strategies include tracking spending, distinguishing between necessities and luxuries, and having emergency savings. The investment strategies focus on patience, realistic expectations, avoiding emotional decisions. The retirement strategies suggest flexibility, continuing some work, and protecting savings from inflation. The overall goals are to develop strategies to weather economic challenges and make informed financial decisions.
Women often face unique financial challenges compared to men, such as longer lifespans requiring retirement savings to last longer, lower lifetime earnings, and more time out of the workforce for caregiving responsibilities. As a result, women are more likely to have smaller financial cushions and be vulnerable to unexpected obstacles. It is important for women to educate themselves about personal finances, make their own financial decisions, seek professional help when needed, and implement plans to ensure financial security for themselves and their families throughout their lives.
This presentation provides seven tips to help manage finances and maintain financial health during difficult economic times. The tips include creating a budget, paying with cash instead of credit when possible, investing when stock prices are low, paying off revolving debt while keeping a small number of credit cards for emergencies, treating your home as shelter rather than an investment, managing tax withholdings, and living within your means by spending less than you earn. Financial Educators of America provides these tips to help people regain their financial freedom.
Building the Pieces of Your Financial FutureFSRoundtable
This document summarizes a presentation about preparing for retirement. It discusses starting to save early, avoiding debt, figuring out one's retirement number, unique challenges women face like caregiving responsibilities and lower pay, ways to save like 401k plans and IRAs, the role of Social Security, and avoiding financial traps in retirement like paying for children's expenses. The presentation aimed to help people build the pieces of their financial future and solve the puzzle of improving retirement security.
The document summarizes a financial workshop for women that covered various topics:
- Encouraging women to share financial insights and learn from real-life scenarios.
- Discussing unique challenges women face such as earning less and living longer.
- Covering scenarios of different women at various life stages and the financial advice provided.
- Emphasizing the importance of being prepared, insuring against risks, reducing debt, estate planning, and maximizing retirement savings.
- Advising seeking help from financial professionals for investments, insurance, taxes, legal issues, and more.
The document summarizes a financial workshop for women that covered various topics:
- Encouraging women to share financial insights and learn from real-life scenarios.
- Discussing unique challenges women face such as earning less and living longer.
- Covering scenarios of different women at various life stages and the financial advice provided.
- Emphasizing the importance of being prepared, insuring against risks, reducing debt, estate planning, and maximizing retirement savings.
- Advising seeking help from financial professionals for investments, insurance, taxes, legal issues, and more.
http://ekinsurance.com/financial/retirement/
If you are near retirement or have retired, listed below are several common mistakes that occur in the arena of financial planning for retirement that you can plan now to avoid.
- The document provides a guide from Wesleyan for Teachers to help teachers better manage their savings.
- It finds that over half of teachers believe they have less understanding of savings and investments than the general population.
- The guide offers tips for teachers on building an emergency fund, setting savings goals, investing for retirement, understanding risk tolerance, and reviewing savings regularly.
This document discusses the importance of financial education and provides an overview of basic financial concepts. It is published by Primerica, a financial services company, to help consumers overcome common financial challenges through knowledge. The document encourages readers to take control of their finances by learning principles like paying themselves first, eliminating debt, investing for the long term, and starting early to benefit from the power of compound interest and time. It presents savings and investment strategies as ways for working Americans to achieve financial security and independence.
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2. Charting a Financial Course
Today, it's critical
that women know
how to SAVE,
INVEST, and
PLAN for their future
3. Reasons for Optimism
Women represent almost half the
Women today have
workforce
never been in income
Percentage of householda
earned by women steadily
to
increasing
Women-owned businesses growing
Women earn the majority of all
bachelor's, master's, and doctoral
degrees
Economic clout growing
better position
achieve financial
security
Source: U.S. Department of Labor, Bureau of Labor Statistics, Women in the Labor Force: A
Databook, 2011; National Women’s Business Council, Women-Owned Firms in the U.S., January
2012; U.S. National Center for Education Statistics, Digest of Education Statistics, 2012
4. Potential Financial Challenges
Women have longer life
expectancies
often
Women generally earn less
face financial
income and have
less savings
that
their male counterparts
Women are more likely
to take career breaks for
don't
caregiving
Women often invest too
conservatively
Women
challenges
Source: National Vital Statistics Report, Volume 61, Number 6, October 2012;
U.S. Government Accountability Office, Retirement Security: Women Still Face Challenges,
July 2012; U.S. Department of Labor, Women and Retirement Savings, October 2008
5. Women Have Longer Life Expectancies
Women live an average of 4.9 years
longer than men
Retirement dollars will need to
stretch further
More likely to need long-term care
and face some health-care needs
alone
Married women likely to have sole
responsibility for financial decisions
and disposition of marital estate
Source: National Vital Statistics Report, Volume
61, Number 6, October 2012
6. Women Generally Earn Less
Women who work full-time earn
81%--on average--of what men
earn
Impacts savings, Social Security
retirement benefits, and pensions
Increased vulnerability to
unexpected economic obstacles:
job loss, divorce, single
parenthood, illness, loss of spouse
Source: U.S. Department of Labor, Bureau of Labor
Statistics, Women in the Labor Force: A Databook,
2011
7. Women More Likely to Take Career
Breaks for Caregiving
Lost income and employer
benefits
Potentially lower Social Security
retirement benefit
Economic vulnerability in event
of divorce, spouse's job loss
Possible difficulty finding a
comparable job
Flexible schedules can impact
salary and career advancement
8. Women Tend to Invest Too
Conservatively
May not be aware of other
options or generally more risk
averse
Inadequate retirement nest egg
Loss of purchasing power due
to inflation
No risk = no reward
9. No One-Size-Fits-All
Not all women
will face all of these
challenges, but
it's important to
move forward
financially with them
in mind
10. Take Charge of Your Financial Future
1.
2.
3.
4.
5.
6.
Take control of your money
Become a more knowledgeable
investor
Advocate for yourself in the
workplace
Plan for retirement
Protect your income and assets
Create an estate plan
11. 1. Take Control of Your Money
Realize you have responsibility
for your financial well-being
Know your cash flow
Establish positive cash flow
by budgeting, managing debt,
living within means
Create an emergency fund
Establish and maintain good credit
Set clear financial goals
12. 2. Become a More Knowledgeable
Investor
There's always room to
learn more and
adjust your plan
based on your
circumstances
13. 2. Become a More Knowledgeable
Investor
Just starting out
Get some basic
information
Take small steps and learn
as you go
Don't postpone getting
started
Ask questions
More experienced
Align portfolio with goals, time
horizon, and risk tolerance
Look for ways to manage risk
Understand what you own
Keep an eye out for investing
ideas
Consider taxes, fees, inflation
Make ongoing adjustments
Have game plan for volatile
markets
14. 2. Become a More Knowledgeable
Investor
Admit mistakes and move on
Be risk averse--in the right way
Know account numbers and
passwords
Know when to get help
15. 3. Advocate for Yourself in the
Workplace
Negotiate starting $alary
More to save and invest now
Salary is foundation for other
benefits
Research ongoing salary
Speak up on accomplishments, take
challenging assignments, ask for
raises/promotions
Ask for flexibility if needed
16. 3. Advocate for Yourself in the
Workplace
Job flexibility
Telecommuting
Flexible hours
Part-time work
Growth trend
17. 4. Plan for Retirement
Age you start
saving for
retirement
Save $2,000
per year
Save $5,000
per year
Save $10,000
per year
at age 65, you'll have…
20
$425,487
$1,063,718
$2,127,435
30
$222,870
$557,174
$1,114,348
40
$109,729
$274,323
$548,645
50
$46,552
$116,380
$232,760
60
$11,274
$28,185
$56,371
Note: This is a hypothetical example, and does not reflect the performance of
any specific investment. Results assume average 6% return and do not account for taxes.
Earnings are compounded annually.
18. 4. Plan for Retirement
Save as much as you can
Put yourself first
Join employer retirement plan
(e.g., 401(k), 403(b) plan)
Consider IRAs -- traditional, Roth,
spousal
Set savings goal and keep
track of progress
19. 4. Plan for Retirement
Social Security is
the major source of
guaranteed
lifetime income
for most Americans
20. 4. Plan for Retirement
Your benefit is based on the number
of years you've worked and amount
Social Security provides retirement
benefits
you've earned
Social estimate of your monthly
Get an Security also provides
disability and survivor's benefits
retirement benefit by viewing your
personal statement at www.ssa.gov
To qualify for retirement benefits,
you generally need 40 credits (10
Age at which you start claiming
years of work), or
benefits matters: you can qualify
for spousal benefits based on your
62 -- 25% to 30% less
husband's work record (spousal
66/67 (full retirement age)
benefit = 50%)
70 -- 32% more
21. 4. Plan for Retirement
Monthly Payout Depends on Age You Start Taking Benefits
22. 4. Plan for Retirement
Other things to think about:
When you'll retire
Retirement expenses
Dealing with a shortfall
Health-care expenses
Longevity issues
Distribution options, order to tap
accounts, safe withdrawal rate
23. 5. Protect Your Income and Assets
Life insurance
Disability insurance
Home and auto insurance
Health insurance
Long-term care insurance
Trusts
Business entities
24. 6. Create an Estate Plan
An estate plan is
simply a map that
reflects the way you
want your personal and
financial affairs to be
handled in case of your
incapacity or death
25. 6. Create an Estate Plan
Incapacity
Living will
Health-care proxy
DNR order
Power of attorney
Living trust
Death
Will
Testamentary trust
No will--intestacy laws
Will or no will--some
property passes automatically
(jointly owned property, property
with designated beneficiary, trusts)
27. Working with a Financial Professional
Help you see big picture
Create a financial plan
Choose investment options for
short- and long-term needs
Monitor plan and adjust as
needed
Keep you up-to-date on new
legislation and tax changes
Answer questions
30. Disclaimer
The opinions voiced in this material are for general information only and are not intended to
provide specific advice or recommendations for any individual. To determine which
investment(s) may be appropriate for you, consult your financial advisor prior to investing. All
performance referenced is historical and is no guarantee of future results. All indices are
unmanaged and cannot be invested into directly. The information provided is not intended to be
a substitute for specific individualized tax planning or legal advice. We suggest that you consult
with a qualified tax or legal advisor. LPL Financial Representatives offer access to Trust
Services through The Private Trust Company N.A., an affiliate of LPL Financial.
Editor's Notes
Good <morning> <afternoon> <evening> everyone, and thank you for coming. My name is <name>, and today's seminar is called "Women and Money: Taking Charge of Your Financial Future." Together we'll take a look at some of the unique financial challenges women often face, and then some of the steps women can take to take charge of their financial future.At the end of the presentation, I'll be glad to answer any questions you may have.So let's get started.
In the past, women may have taken a less active role in financial decision making, for a variety of reasons.But today, with more women than ever responsible for their financial well-being--and the financial well-being of their families--it's critical that women know how to save, invest, and plan for their future.
The good news is that women today have never been in a better position to achieve financial security for themselves and their families. According to government statistics: <CLICK> Women represent almost half the workforce, <CLICK> The percentage of household income earned by women has been steadily increasing, <CLICK> The number of women-owned businessesis growing, and <CLICK> Women now earn the majority of all bachelor's, master's, and doctoral degrees.<CLICK> The bottom line is that women's economic clout is growing, and going forward, it will likely continue to grow.
But on the road to financial security, women often face unique challenges that their male counterparts don't. What are some of these key differences?<CLICK> Women have longer life expectancies, <CLICK> Women generally earn less income and have less savings,<CLICK> Women are more likely to take career breaks for caregiving, and <CLICK> Women often invest too conservatively. Let's look at each of these challenges--and their consequences--in more detail.
First challenge: women have longer life expectancies.According to the most recent U.S. Census Bureau Vital Statistics Report, women live an average of 4.9 years longer than men. Some might say this means women are fortunate. But a longer life expectancy has several financial consequences:<CLICK> Women are likely to spend more years in retirement and will need to stretch their retirement dollars further, but according to the Census Bureau, women are more likely to end up in poverty,<CLICK> Women are more likely to need some type of long-term care as they age, and they may have to face some of their health-care needs alone, and<CLICK> Married women are statistically likely to outlive their husbands, which means they'll probably have sole responsibility for financial decisions and final say on the disposition of the marital estate.The irony is that while women need their savings to last longer, they're typically confronted with other realities that make it harder to accumulate savings and amass sufficient income in later years. Which brings us to challenge number two.
Women generally earn less than men.<CLICK> According to the U.S. Bureau of Labor Statistics, within most occupational categories, women who work full-time, year-round, earn only 81%--on average--of what men earn. <CLICK> This wage gap can impact overall savings, Social Security retirement benefits, and, if you're lucky enough to have one, your pension. <CLICK> It also means women are more vulnerable to unexpected economic obstacles such as a job loss, divorce, single parenthood, illness, or the loss of a spouse.
Challenge number three: women are more likely to take time out of the workforce to raise children and/or care for aging parents. Sometimes this is by choice. But moving in and out of the workforce has several significant financial implications for women:<CLICK> Lost income and employer benefits, like retirement benefits and health insurance. Lost income means less savings.<CLICK> A potentially lower Social Security retirement benefit. This is because what you get at retirement from Social Security is based on the number of years you've worked and the amount you've earned. <CLICK> Economic vulnerability in the event of divorce or a spouse's job loss.<CLICK> Possibly a more difficult time finding a job, or a comparable job in terms of pay and benefits, when reentering the workforce.<CLICK> And even when women do attempt to stay in the workforce, they are much more likely to request flexible work schedules to meet their primary caregiving responsibilities, which can impact their salary and their long-term career advancement.
And challenge number four: women tend to invest too conservatively to meet their financial objectives. <CLICK> Whether this is due to the fact that women aren't aware of other investment options or because they're generally more risk averse, the result of investing too conservatively over a long period of time is:<CLICK> An inadequate retirement nest egg, and <CLICK> A loss of purchasing power due to inflation. Inflation refers to the increase in the price of goods and services over time. For example, in 1950, a gallon of milk cost 84¢. In 1970, it was $1.35. In 1990, it doubled to $2.78. And today, a gallon of milk costs about $3.75. And that's not even organic milk! So it's easy to see how your purchasing power can decline if your savings don't keep up with inflation. <CLICK> The bottom line is that if there's no risk at all in your portfolio, then there's no chance of reward. Our financial system is pretty much built on the risk/reward model. Keep in mind, however, that all investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.
Before we go on, I want to mention that there's no one-size-fits-all here. That is, not all women will face all of these challenges. Obviously, there are many different life stages and characteristics that define women: single, married, widowed, employee, small business owner, breadwinner, stay-at-home mom, empty nester, retired, knowledgeable investor, beginning investor, and so on.That being said, statistically speaking, a majority of women are likely to face at least some of the challenges I've noted. So it's important for women to be aware of them as they move forward financially--regardless of the life stage they're in.
Now, what are some of the things women can do to take responsibility for their financial well-being? Here are six steps:<CLICK> One. Take control of your money. <CLICK> Two. Become a more knowledgeable investor.<CLICK> Three. Advocate for yourself in the workplace.<CLICK> Four. Plan for retirement.<CLICK> Five. Protect your income and assets. <CLICK> And six. Create an estate plan. Let's look at each of these areas in more detail.
Number one. Take control of your money. What does this mean, exactly? <CLICK> First and foremost, it means no matter what life stage you're in, realizing that you have responsibility for your financial well-being. <CLICK> This means knowing your what your cash flow is--what you have coming in every month and what you have going out. Some people choose personal finance software to keep track of everything; others prefer good old pen and paper. <CLICK> Next, it means establishing a positive cash flow. You do this by budgeting, managing debt wisely, and living within your means. Even in households where one spouse handles most of the bill paying responsibilities and/or earns most or all of the income, the other spouse should be involved in budgeting and should know what outstanding debts there are and how quickly those debts are being paid off. <CLICK> Create an emergency fund. Part of budgeting is establishing an emergency fund so that you'll have money readily available to meet unexpected expenses. Without a financial cushion, you may have to use credit cards with high interest rates to meet sudden cash needs. <CLICK> And speaking of credit cards, you'll want to establish and maintain good credit, because your credit score will determine the interest rate you receive when you borrow money. How do you maintain good credit? Pay your bills on time and don't carry too many credit cards. Everyone is entitled to a free copy of their credit report each year from the three main credit reporting agencies, and it's a good idea to review your report periodically for accuracy. <CLICK> Next, set clear financial goals. Again, if you're married, this should be a team effort. Short-term goals may include making sure that your cash reserve is adequately funded or paying off outstanding credit card debt. Long-term goals might include saving for a new home, retirement, or your child's college education. Once you've done all of these things, you're ready to start saving and investing your money, which brings us to step number two.
Become a more knowledgeable investor. Some of you here today may have handled your family's finances all along, while others may be new to the world of investing. No matter what your level of expertise, there's always room to learn more and adjust your plan based on your current circumstances.Because many women will end up being solely responsible for their own financial well-being at some point in their lives, it's critical that they have a sound understanding of the investment world and the confidence to make appropriate investing decisions.
Determining appropriate investment strategies isn't an exact science. But there are some steps you can take to help you get started.If you're a beginning investor:<CLICK> Start by getting some basic information. You'll want to learn simple investing terms, concepts, and types of investments, such as the difference between a stock, bond, and mutual fund; asset allocation; diversification; cash equivalents; dollar-cost averaging; and the risk vs. return dynamic.<CLICK> Take small steps and learn as you go. You don't have to do everything at once. <CLICK> Don't postpone getting started. The longer you wait, the fewer options you may have. <CLICK> Don't be afraid to ask questions.If you're a more experienced investor:<CLICK> Make sure your portfolio is in line with your investing goals, time horizon, and risk tolerance.<CLICK> Look for ways to manage risk. The key is to try to maximize investment returns at a level of risk that you’re comfortable with. <CLICK> Understand what you own and what role each investment plays in your portfolio.<CLICK> Keep an eye out for investing ideas. Interestingly, women are often in a unique position to do this because typically they are in charge of most purchasing decisions for their household. So they already have an eye in the marketplace where they can observe products and consumer behavior.<CLICK> Consider the impact of taxes, fees, trading costs, and inflation. If you've amassed substantial assets, you might benefit from expert help in the areas of tax planning, estate planning, and asset protection. <CLICK> Make ongoing adjustments as needed to reflect your circumstances.<CLICK> And have a game plan to avoid knee-jerk reactions in volatile markets. You don't want to be jumping ship on certain investments just because that's what everyone else is doing.
Becoming a more knowledgeable investor includes other things, too. <CLICK> It means being willing to admit mistakes, deal with them, and move on. There is a saying: "Good investors know how to take profits; great investors know how to take losses." If an investment isn't working, sometimes it's better to cut your losses than hang on and on for a turnaround that may never come. <CLICK> Be risk averse--in the right way. While investing conservatively can be a good strategy at times, for longer-term goals like retirement, it can be a liability. If you're investing far too conservatively than is appropriate for your goals and circumstances, you may find that you have less money than you hoped for. Make the most of the years you have ahead to grow wealth. <CLICK> If you're married, make sure both spouses know the account numbers, passwords, and online access information for all investment and loan accounts. Sometimes one spouse assumes primary responsibility for investment decisions, whether by choice or habit, and it's important for the other partner to know how to access these accounts and be able to handle bills and investment decisions if the first spouse is unable to do so.<CLICK> Know when to get professional help. Being a good investor doesn't mean you have to do everything yourself. A financial professional can help you create an appropriate investment strategy, select specific investments, and make adjustments as necessary.
Now I want to switch subjects a bit and talk about step number three: advocate for yourself in the workplace. This is important because in order to take steps toward financial security, you need a source of income. For many women, that income comes from their jobs. So what can women do to maximize their potential income?<CLICK> When possible, women need to negotiate their starting salary, for two reasons.<CLICK> One, more money now means more money to potentially save and invest. <CLICK> Two, your salary is the foundation on which other employee benefits are built.So, for example, the percentage amount that you can contribute to your 401(k) plan or the death benefit you receive from an employer life insurance policy--these depend on your salary. Ten percent of $70,000 contributed to your 401(k) plan is better than 10% of $60,000 is better than 10% of $50,000. Over many years, the amounts add up. Now, negotiating your starting salary doesn’t mean you're going to get what you want--some employers can't or won't negotiate at all. But you should be aware of the important role your starting salary plays in your overall financial picture, and you shouldn't be afraid to try to raise the bar. There are many websites and articles that offer tips on effective negotiation techniques.As women move forward in a job, they need to:<CLICK>Make sure they're getting paid what they're worth. This can be a bit tricky since it's not typical for employees to share salary information. But by looking at career and salary websites, you should be able to get an idea of what someone in your field earns with your same level of experience, education, and job responsibilities. Ideally, women should do this research when they're negotiating their starting salary.<CLICK> Women need to emphasize their work accomplishments, take on challenging assignments, and ask for raises and promotions when warranted. Typically, women are more likely to remain silent and wait for others to notice their hard work. And sometimes they wait, and wait, and wait. Have confidence in your abilities, be proactive, and put yourself in the mix. <CLICK> And finally, women should request job flexibility if it means being able to stay in the workforce while raising a family. Let's look at this last point in a bit more detail.
The term "work/life balance" has become sort of an H-R buzzword, but the fact is for many women, <CLICK> Job flexibility is often a critical component of their overall job package. <CLICK> This can mean telecommuting,<CLICK> Flexible hours, for example, working 7 to 3 instead of 9 to 5, <CLICK> And part-time work. The reality is that children come along, and far fewer women than men have stay-at-home spouses--or spouses who want to request flexible schedules--to help take care of children and home responsibilities on a daily basis. For many women, leaving the workforce entirely isn't an option. Their husbands might not earn enough money to support the family, or they may be out of work. Women might have their own debts--like student loans--to repay. Or women may be living on their own and their family's sole breadwinner. Whatever the reason, job flexibility is key. Options like telecommuting, flex hours, and part-time work can help women remain in the workforce. Some employers offer and embrace these types of arrangements; others don't. But it doesn't hurt to ask. <CLICK> Looking to the future, flexible work environments are likely to be a growth trend as women seek to blend their work and home lives in a satisfying way rather than accept an "either/or" scenario, and more employers realize that job flexibility can benefit all employees--not just female employees with children--creating a very loyal, dedicated workforce.I want to mention one final point here. For women who are juggling children and work, beware the burn out factor that can result from having very full days and prioritizing everyone's needs over your own. For many women, working outside the home with young children is one of the hardest, busiest time of their lives. In those moments when you're at your wit's end, take comfort in the fact that you are providing financially for your family and doing the best you can. And remember, by putting yourself first once in a while and taking care of your own personal needs and interests, you will be in a better position to take care of your financial life as well.
Now I'd like to move on to step number four. Plan for retirement. This is such a critical planning step for women. Unfortunately, women tend to have lower retirement plan balances, Social Security benefits, and pension benefits. The number one thing women can do is to start saving now. The table here shows how $2,000, $5,000, or $10,000 invested each year might grow over time earning a 6% rate of return. As you can see, the sweet spot to start saving is when you're in your 20s, but starting in your 30s and 40s isn't too shabby either. The important lesson to take away here is the earlier you start saving, the better.
In addition to starting to save early, it's important to get in the habit of saving as much as you can, no matter what. Even if you're staying at home to raise your family, you can--and should--save for retirement. <CLICK> Think of saving for retirement as putting yourself first. Get rid of excuses like:"I'm too busy to plan.""My husband takes care of our finances.""I'll save more once my children are through college.""I don't know enough about investing."Your retirement savings have to be a priority. <CLICK> If your employer offers a retirement savings plan, such as a 401(k) or 403(b) plan, start contributing as much as you can. Having your contributions deducted directly from your paycheck can make it much, much easier to sock away money versus saving what you have left over at the end of the month. It may be hard initially to get a smaller paycheck, but paying yourself first will ultimately benefit you in the long run. And many employers will match a portion of the amount you contribute. <CLICK> If you're contributing the maximum amount to your employer retirement plan and you need additional options, or if your employer doesn't offer a retirement plan or you're not currently in the workforce, consider an IRA. Traditional, Roth, and spousal IRAs can all be used to save for retirement and offer tax advantages. <CLICK> Set a savings goal that you can work toward and keep track of your progress. Monitor your investments and make changes as needed. A financial professional can help you here.And now I want to talk about another very important part of retirement planning for women.
Social Security. Social Security is the major source of guaranteed lifetime retirement income for most Americans. "Guaranteed" means that once you start taking monthly Social Security retirement benefits, you will get that money every month for as long as you live. Now, every year the trustees of Social Security publish a report on the solvency of the program, where they note that in its current form, Social Security won't be able to pay out the benefits in the future that people expect. Does this mean that Social Security will disappear entirely? Probably not. Does it mean that some changes are likely at some point in the future to maintain the program's solvency? Probably. Whatever changes happen is anyone's guess. All we can do is plan based on what we know today.Let's look at Social Security in a bit more detail. For some women, Social Security makes up most, if not all, of the income they have in their later years.
Ever since 1940, when a legal secretary named Ida May Fuller received the first Social Security retirement check, women have been counting on Social Security to provide much needed retirement income. <CLICK> Social Security also provides disability and survivor's benefits, but today we're just going to focus on retirement benefits. <CLICK> To qualify for Social Security retirement benefits, you have to work in a job that's covered by Social Security, and you generally need to have earned 40 credits, which is about 10 years of work. If you haven't worked long enough to qualify on your own, you may qualify for spousal benefits based on your husband's work record. A spousal benefit is generally equal to 50% of the primary earner's benefit. Now, how much can you expect from Social Security?<CLICK> The amount you'll receive from Social Security is based on the number of years you've worked and the amount you've earned. Your benefit is calculated using a formula that takes into account your 35 highest earnings years. If you earned little or nothing in several of those years, it may be to your advantage to work as long as possible, because you may have the opportunity to replace a year of lower earnings with a year of higher earnings, potentially resulting in a higher retirement benefit.<CLICK> You can get an estimate of what your monthly retirement benefit will be by going to the Social Security website and viewing your personalized Social Security statement, which will give you not only an estimate of your retirement benefit based on your current earnings, but also your disability and survivor's benefit. Starting at age 60, you'll receive a copy of this statement in the mail every year until you start taking benefits.<CLICK> The age at which you start claiming benefits will also affect the amount you receive. You can choose to start taking retirement benefits as early as age 62, but if you do so, your monthly benefit will be 25% to 30% less than if you had waited until your full retirement age--which is age 66 or 67, depending on the year you were born. On the other hand, you will get a higher monthly benefit if you delay claiming Social Security benefits until age 70--if you do so, your monthly benefit will increase by 8% for each year that you delay taking benefits past your full retirement age.
This chart illustrates what a hypothetical person might get by taking Social Security benefits at different ages. It's based on a full retirement age of 66 and a benefit of $1,800 per month. As you can see, if you start taking benefits at age 62, you'll get $1,350 per month, but if you wait until age 70, you'll get $2,376 each month--almost $1,000 more. Remember, this monthly benefit is guaranteed, every month, for as long as you live.So, an important question as you approach your 60s is: should you begin taking Social Security benefits early at age 62 and receive smaller payments, but possibly receive them over a longer period of time, or should you wait until your full retirement age, or later, to start taking benefits, and receive larger benefits over a possibly shorter period of time? There's no right answer. It's an individual decision that must be based on many factors, such as other sources of retirement income you may have, your life expectancy, your marital status, whether you plan to continue working after taking benefits, and your tax picture. A financial professional can help you evaluate these factors. As a woman, you should pay close attention to how much retirement income Social Security will provide.
Finally, as you approach and then enter retirement, there are some other things you'll need to think about, such as:<CLICK> When you'll retire.<CLICK> What your retirement expenses will be. Keep in mind that you can live a rich lifestyle in retirement if your expenses and outstanding debt obligations are modest. <CLICK> How you plan to deal with a shortfall if your retirement reserves aren't sufficient.<CLICK> Health-care expenses. Many people underestimate the amount they'll need to spend on health care in retirement. Even though Medicare covers most Americans starting at age 65, it doesn't cover every health-care need.<CLICK> Longevity issues. According to the U.S. Census Bureau, not only do women have longer life expectancies than men, but women also make up the majority of older Americans living in poverty, and women overwhelmingly outnumber men in skilled nursing facilities after age 65. Many people mistakenly believe that Medicare will cover their long-term care needs, but the fact is that Medicare only covers skilled nursing care for a short period of time--it doesn't cover ongoing, custodial care. So you'll need to plan for longevity.<CLICK> Finally, you'll need to understand your retirement plan distribution options, the best order to tap your retirement accounts, and what a safe withdrawal rate is so you don't outlive your money. As you can see, there's a lot to think about here.
Now let's move on from retirement and talk about step number 5. Protect your income and assets. Women often overlook the need to do this. How do you protect your income and assets from risk? With insurance. Insurance transfers the risk from you and your family to an insurance company. Here are the types of insurance you should consider. <CLICK> Life insurance. Life insurance provides funds for your loved ones when you die. And yet, many people who should have life insurance don't. Whether you are single, married, employed, or a stay-at-home parent, you can benefit from life insurance. Think about it. If you should die prematurely, would your family be able to maintain the same lifestyle that they have now? Life insurance can provide proceeds that can be used to replace your lost income or the value of services you perform at home. At the very least, it can help pay for funeral costs and outstanding debts and tax obligations that might otherwise be the responsibility of your family members. Life insurance can also play a key role for women who are business owners.<CLICK> Disability insurance. Disability insurance protects your income if you are unable to work for an extended period of time. Becoming disabled is a far greater risk than people think. If you were to suffer disabling injuries tomorrow in a car accident, would you and your loved ones be able to survive without your income? A typical policy will replace 50% to 70% of your income. <CLICK> Home and auto insurance. Most people are required to have this insurance by their lender or state law. Along with protecting your property from damage, both home and auto insurance cover you for liability claims that result from accidents and injuries caused by you. If you have significant assets, you should consider umbrella liability insurance, which provides an extra layer of liability coverage above and beyond that provided by your home and auto insurance.<CLICK> Health insurance. It's mandatory now, but even if it wasn't, health insurance is critical to safeguard your assets from the high cost of health care--both routine and unexpected.<CLICK> Long-term care insurance. As we age, our need for long-term care increases. Long-term care insurance pays a certain dollar amount per day, for a set period of time, for the type of long-term care described in the policy. Depending on the benefits selected, care can be provided in a variety of settings, such as your home, assisted-living facilities, and nursing homes. The best time to purchase long-term care insurance is when you are healthy enough to qualify for it.Finally, there some instances where insurance alone might not provide all the protection you need, and other strategies may be useful, such as: <CLICK> Trusts. If you have significant assets, a trust can help shield your assets from creditors, lawsuits, or other threats. <CLICK> Business entities. Many professionals such as doctors, lawyers, and accountants face liability for damages that result from the performance of their professional duties. For added protection, forming a limited liability partnership or professional corporation is often advisable. The bottom line in all of this is that if you haven't developed and implemented an asset protection plan, your wealth and assets are vulnerable to the risks that are part of everyday life.
And last but not least, step number six. Create an estate plan. The words "estate plan" sound a bit intimidating, but an estate plan is simply a map that reflects the way you want your personal and financial affairs to be handled in case of your incapacity or death. It allows you to control what happens to you and your property. For example, do you want to leave a legacy for your children or grandchildren? Do you want to donate a portion of your estate to charity? Do you want to ensure that your good friend gets your antique coffee table? Have you thought about what type of medical intervention you would want after an accident in the event you couldn't speak for yourself? By putting an estate plan in place now while you still have the mental capacity to do so, not only will you have a say in what happens to you and your property, but you'll also make it easier for your loved ones to cope if something unexpected should happen to you, because your family members will know your express wishes. Keep in mind if you're married, your husband might not be there to know your wishes or act on your behalf.
What are some of things women can do to plan? Let's look first at incapacity. Incapacity means being unable to make your own decisions. It's probably obvious that the risk of incapacity increases with age. Here are some of the most common documents that can help you in the event you're unable to make your own decisions:<CLICK> Living will. A living will is a document that lists the types of medical treatment you would want, or not want, under particular circumstances.<CLICK> Health-care proxy. A health-care proxy, sometimes called a durable power of attorney for health care, lets one or more family members or other trusted individuals make medical decisions for you when you're unable to do so yourself.<CLICK> A DNR, or Do Not Resuscitate order. This is a form signed by both you and your doctor that gives hospital staff permission not to resuscitate you. Together, these three documents are sometimes referred to as health-care directives.<CLICK> Power of attorney. A durable power of attorney lets you name family members or other trusted individuals who can make financial decisions or transact business on your behalf.<CLICK> Living trust. A living trust, sometimes called an "inter vivos trust," is a document that allows you to manage your trust assets while you're alive and capable, but that names a successor trustee to step into your shoes and take over management of trust assets if you become incapacitated. It can be especially useful in cases where there are privacy needs or complex assets. All of these documents should be drafted by an attorney who specializes in estate planning. Now, planning for death, a topic no one likes to think about. What should you consider having?<CLICK> A will. Your will is typically the cornerstone of your estate plan. It is a legal document that directs how your property is to be distributed at your death. In it you can name an executor who will carry out your wishes as specified in the will and a guardian for your minor children. Most wills have to be filed in the local probate court, and they become part of the public record.<CLICK> A testamentary trust. A trust created in your will is called a testamentary trust. A trust is a legal arrangement that allows you to provide various interests to different beneficiaries. For example, the trust might provide income to your children for life, with the remainder going to your grandchildren or to charity. Unlike your will, a testamentary trust is not part of the public record. An attorney should draft your will and trust. What happens if you die without a will? <CLICK> If you die without a will, your property will pass according to your state's laws, called intestacy laws. These differ from state to state. <CLICK> However, whether you have a will or not, some property will pass automatically to another person. For example, any property that you own jointly with what's called "the right of survivorship," for example, your house, will pass directly to the other joint owner or owners. Even if you have a will, jointly owned property will still pass automatically--that is, outside your will-- to the other owner. Also, property that has a designated beneficiary, such as a 401(k) plan or a life insurance policy, will pass directly to the named beneficiary, outside your will. It's a good idea to review your beneficiary designations from time to time to make sure they reflect your current wishes. Finally, property held in a trust will pass according to the terms set out in the trust and not through your will. For women with significant assets, more advanced estate planning may be necessary. This includes tax planning, specifically for the income tax basis of your property, along with planning for any gift tax, estate tax, and generation-skipping transfer tax that may apply to transfers of your property.
I want to change subjects for a moment now and talk about unexpected obstacles. Unfortunately, life isn't always fair. Or easy. Things happen. <CLICK> Employees are let go. <CLICK> Children come along before we're ready. <CLICK> Couples divorce.<CLICK> Illnesses spring up. <CLICK> Adult children need financial help. <CLICK> Our parents need help. <CLICK> Spouses pass away. When you take steps to strengthen your financial future, not only will you be in a better position to enjoy life in the good times, but you'll also be in a better position to cope during the not-so-good times, which many of us are likely to face at some point in our lives. In fact, it's often during these stressful times that many women turn to a financial professional for help.
But you don't have to wait until you're in a tough situation. A financial professional can help during the good times, too. We all know women are busy working, caring for their families, and taking care of many household responsibilities. Often, there aren't enough hours in a day to go grocery shopping or get a haircut, so how are you supposed to find time to research investment options, buy a life insurance policy, or consider a living will?A financial professional can help. If you're unsure about hiring a person to help with your finances, think of it this way. You hire people to do things like cut your hair, work on your car, and tend to medical issues, so it might make sense to do the same thing when dealing with important financial matters. A financial professional can: <CLICK> Help you see the big picture, <CLICK> Create a financial plan based on your individual circumstances, and <CLICK> Educate you on different investment options and help you choose the right investment strategies for your short- and long-term needs.<CLICK> A financial professional can also monitor your plan and adapt it to your changing circumstances,<CLICK> Keep you up-to-date on new legislation and tax changes, and <CLICK> Answer any questions you may have. Of course, it's still important for women to educate themselves on financial topics and make the ultimate decisions that affect their financial health. But it's nice to know there's someone you can turn to for questions, advice, and support if you need it.
In the end, it's all about you. Your goals. Your dreams. What financial course will you chart? By taking the time now to plan for your financial future, you gain peace of mind knowing that you're doing all you can to provide for yourself and your family. And in our busy, full, exciting lives, I'm guessing we could all use a bit more peace of mind.
That concludes our presentation. Thank you all for your time. You’ve been a wonderful audience. And now I would be happy to answer any questions you have.