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Women can become more financially secure if they gain a firm grasp or understanding of basic money management:
budgeting, cash flow management, investing to meet their financial goals, and saving adequately for retirement.
Learning how to manage wealth can be overwhelming, particularly for women who are primarily focused on taking
care of their family and have delegated most money matters to their partner. Roughly 74% of men say they are the
lead financial and investment decision-makers in their household, but 90% of women will have that role thrust upon
them later in life, often as a result of divorce or widowhood. [1] That’s the troubling disconnect we must address.

Getting started

While the financial planning process may be complicated at times, it’s nothing you can’t handle and eventually
master. Begin with the two action steps below:

[1] Empower yourself with financial literacy. Learning more about investing, budgeting and overall financial
planning will help form the building blocks you need to gain confidence in your financial management abilities.
You should also take charge of your specific situation. What are your most important short- and long-term goals?
Do you know how much savings you have and where/what your investments are? How about your debts, such as
credit cards, loans, mortgages, etc.? If you have a partner, the goal should be full financial transparency so you can
get an accurate picture of your household finances. Only when you fully understand your assets and liabilities can
you determine what gaps may exist in your financial plan, and how to address them.
[2] Benefit from financial advice. It’s critical to work with an advisor who understands your unique financial
needs, objectives, and challenges. An advisor gains deep insights into the complexities of your life and will create
a personalized plan with strategies and solutions to help you achieve financial success – however you choose to
define success. Significant life events like divorce or widowhood can have an immense impact on your financial
wellbeing. Working with an advisor, you can be more secure about your financial future, even when dealing with
difficult circumstances, and be confident that your comprehensive financial plan will sustain you now and in the
future.

Contact our office today if you'd like to review your financial plan and gain more insight into your finances.

[1] Women & Wealth: Financial confidence comes with finding the right advice, IPC Private Wealth, 2018.
[2] Own your worth: How women can break the cycle of abdication and take control of their wealth, UBS, 2018.

This report has been prepared by Investment Planning Councsel.

PERSONALIZED WEALTH I MADE SIMPLE

8 WOMEN IN PROCESS