Women face unique challenges when managing their finances. While some of their life events can be similar to those of their male counterparts, the effects may be much different. Here are a few financial obstacles you may face as you get closer to retirement.
1. Under-Funded Retirement. Women often have less saved up for retirement as they approach it. A few common reasons include lower lifetime earnings, focusing on family instead of personal savings, and career pauses.
Investing can be a daunting task to most people. After all, it's hard to know if an investment is "good" or "bad" or will even help one achieve their financial goals. Especially when that goal can often be saving up for a house, a child's college expenses, or even one's own retirement. Of course, one can always educate themselves on different investment products, investment strategies, and common market principles. However, this can be a rather time-consuming task, assuming one learns the information correctly in the first place.
While it's good to focus your retirement planning efforts on simply saving up as much as you can, you should also have an idea of what is a good goal. But with so many variables, how can you know what that target should be?
Here are a few methods for doing so. Find the right one by understanding how they each work.
The percentage method takes your retirement savings and multiplies it by a certain percentage that you could take out each year.
Professional sports have become a good business to invest money in, but this is not just for the top professional leagues in the country. There are minor league franchises in baseball and hockey as well as franchises in professional sports such as women's basketball, men and women's soccer and lacrosse to name a few. Although there are opportunities in sports franchise investing, there are many questions that need to be answered before you decide to invest your money.
If you are ever in a position where you are feeling unsure about your finances or there has been a big change in your finances, then you may want to meet with a financial advisor. They are very knowledgeable when it comes to handling money and they can give you the tools that you need to work through any financial situation. Here are three reasons to meet with a financial advisor.