Studies Show Struggling Economies Hit Women the Hardest

An increasing number of women and self-employed individuals are suffering from major debt problems that, if left unattended, can eventually cause insolvency. 

Income loss is the most common reason why people enter a Debt Management Plan (DMP).

Figures from the ONS confirm the fact that the economic downturn has forced women and the self-employed to struggle to make ends meet. More and more employees who used to work full-time are now on shorter shifts or have only very few work opportunities. Furthermore, there is a skills shortage and despite jobs advertised, many do not have the skills required to fulfill those roles.

What to Do Now? 

Anyone who's faced with serious debt should get advice at the earliest possible stage. Many countries offer free advisory support, so please check government websites as a starting point.

Employees who have very limited disposable income and whose debts are below a certain threshold can resort to a debt relief order. If debts are higher, the best option would be bankruptcy. Note that every country has different rules so please check for your geographical region. 

Every financial situation is unique and any action should be done with caution. Some experts suggest that the initial step should be seeking professional help from a qualified IVA or debt adviser. More importantly, when in the midst of income loss, people should start prioritising bills and payments, such as mortgage, insurance, council tax, and other necessities. 

It's always good advice to speak with lenders and financial services first to inform them about your status and find professional assistance. 

The key to get out of a spiral of debt is to tackle impending financial problems before they really hit. This way, you can get back on your feet and eventually have your finances back in good shape. 

Women and Finance: Household CFOs

In more and more households, it is the women sorting the mail and email as it comes in, separating the bills and ensuring they get paid on time via their online bill pay system. Women also typically continue to make day-to-day purchasing decisions that have a lasting impact on a family's finances, such as where to make grocery and clothing purchases, and whether to use club cards or discount vouchers. In addition, many women have taken on increasingly complex financial tasks, such as eliminating credit card debt, investing for retirement, saving for their children's education, and engaging in family estate planning. 

The Household CFO (Chief Financial Officer): An Old Term that is making a comeback.

Yes, we are undertaking these tasks but no one is taking it a step further. When we have money saved, what do we do with it?. Many of us have grown up believing that the Banks are a solution. They are not but where else do you go?  Yes, some businesses that provide financial services are beginning to cater to even more women and to give us the respect we deserve. But can we trust them?

Women and Finance: Doing it Their Way 

As marketers, web designers, sales people, financial advisors and other business professionals learn to target women more effectively, they are consistently realising that women think differently about finance than men do. 

Here are some strategies that these professionals should keep in mind as they target women in finance.  

1. We are voracious information gatherers. And we like to get our information in community settings. This is where Femvestorsglobal support you as we will certainly carry this appetite for information-gathering into your finance habits. 

2. Many, but not all women, lack confidence in their financial skills. This lack of confidence is somewhat ironic, because many of us are actually quite competent and so our lack of skill is often perceived, rather than real. 

Unfortunately, the Finance Industry has been a boy's club for centuries and we have been kept in the dark around how things operate. Femvestorsglobal can bridge this confidence gap by speaking in plain English, rather than attempting to impress you with financial jargon that the Professionals use to their advantage. 

3. We tend to thrive in networks. Femvestorsglobal created a Community to support you and hold your hand every step of the way.  Regardless of your time zone, time commitment or finances, we cater for YOU. We listened to what you needed and created a global solution to this issue. 

4. Our values are Honesty, Integrity and Trust. Yes, it takes time to build trust, once you are in our network, you will see the difference we will make to your life and your loved ones. We are true to who we are. 

There are certainly companies and whole industries that have not gotten the memo. We certainly listened to You and created our Community for You.

Check us out at www.femvestorsglobal.com to see how we can support you!

5 Ways to Reduce your Spending & Create Immediate Money to Start Investing

Most of us are well aware that in order to improve our finances and to become wealthy, we need to follow a process that takes us from being in debt to having financial assets that provide us with an income. 

If so many people are aware of this, why do so few ever acquire investments? 

There are two reasons: firstly, many of us are already living on more than our income each month, and so finding money to invest often seems unlikely. 

Secondly, there is a common misunderstanding that investing is complicated. 

Femvestorsglobal are here to tell you that it is not.

By following these five steps, you can easily save a regular amount of money sufficient to act as your investment money: 

1. Reduce your entertainment spending 

Chances are, you don't know exactly how much you spend on entertainment each month, and the total is probably higher than you would guess. Common entertainment splurges are alcoholic drinks, cigarettes, nights out drinking, trips to the cinema, Netflix, weekends away, holidays and family activities like bowling and swimming. All of these quickly add up, especially if you are paying for two (you and your spouse) or four (you, spouse and two children) people each time. Rather than seeing entertainment spending as a necessity, you must be realistic about the amount you can afford to spend on these things each month. What can you sacrifice to help your investment budget? 

2. Take control of our duplications

The things we buy time and time again, despite having similar things already. The obvious is 10 pairs of black shoes. How many black handbags, pairs of blue jeans, summer jackets or winter coats, luxurious bubble baths and shower gels, lipsticks, red nail varnish or excessive bedding for our home do we really need?  Identify what your duplications are and assess whether you need all of the items you have already. Sell any you don't use or pay attention to, and commit to not buying any of these items for a 6 -12 month period. Be aware that when you are around these items, you will feel a temptation to buy. Either avoid the malls and avoid scrolling on the internet online. 

Don't give in- Your future self will thankyou

3. Watch your food spending 

Meals to celebrate a birthday, the weekly grocery shop, the chocolates to cheer us up, the lunch bought each day at work, the ice cream while walking the dog, the Starbucks on the way to the office, extra treats for the kids, the takeaways when you're just too tired to cook... food spending takes up a huge chunk of our income each month. Unless your end goal is to be obese and unhealthy, this is a habit well worth overcoming right away. 

A shocking amount of food bought ends up being thrown away and wasted. You are literally throwing away a portion of your income each month by buying food that will not be used. To get your food spending under control, make sure you plan your meals in advance each week and buy accordingly, never go food shopping while hungry or without a list, and don't make the mistake of aimlessly wandering up and down every single aisle in the supermarket. 

Calculate how much your shopping will total and take that amount in cash - do not have a debit or credit card with you. If your shopping exceeds the amount of cash you have, replace some less essential items. Buy cheaper brands of cleaning products, toilet rolls and alcohol. Arrange alternative celebrations- don't treat food as a reward or comforter.

 4. Buy less 'treats' and stop impulse buys 

Do you have a gym membership? When was the last time you used it? The majority of people who have a gym membership will actually pay less over the course of a year if they cancel the membership and pay for each gym session as they attend. Cancel your membership now - unless you really go several times every single week. Consider your magazine and newspaper subscriptions. How many of these can you access free online? How many do you not even get around to reading properly? With the amount of free information available online, there is rarely a need to pay for any magazines or newspapers. 

If you're wondering how you will manage without these 'treats', consider if you are trying to hide from some real pain (a deep rooted issue) that can be better managed. 

5. Avoid ATMs

Give yourself a weekly budget and withdraw this amount at the beginning of the week. Then hide your credit and debit cards (or give them to a friend who will not give them back to you until the next week or put them in the freezer like I did and delete all payment apps on your mobile) and force yourself to spend just that amount. 

This will force you to closely examine your spending and will change the way you think about money and spending. 

By following these five steps, you will have an extra amount of free cash each month that can be invested however you choose. 

If you are new to investing, discuss your options with Femvestorsglobal. 

In no time at all, you will have an investment plan prepared and will be on the road to controlling your own finances. 

Our team are here to support you every step of the way. We offer a variety of programs at difference price points and timeframes so support you with your investing journey.

How Do I Get Into Commercial Real Estate Investing?

First of all, commercial investing is not as hard as people think. There seems to be a stigma surrounding commercial investing. People think it's the big glass 100 million dollar buildings downtown. Sure, it is, but it's not always that. There are many different kinds of commercial investing that you can get into. You can start small and work your way up. It's not as hard as people think. It's not as hard to get funded, to find deals, and sometimes not as much work, once you have the deals. 

Everyone that owns commercial properties are not like Donald Trump. They don't all have their own TV shows, aren't in the news, aren't in the casinos, own sports teams, and don't have the perfect woman on their arm. It's just real people that own most of the commercial properties out there. People like you and me. It's the guy next store. The guy that owns a few Dunkin Donuts stores. There are all types of commercial properties. 

Let's talk about the basics. First off, what is commercial investing? When it houses a business, it's a commercial investment. Business parks, where it's one level, and there are many different buildings, those are commercial rented condos or business offices. It consists of office buildings in office parks. There are also industrial parks which look like office parks, but they are mostly blue collar businesses like manufacturers, warehouses, and storage places. This also includes strip malls where there are Starbucks, Dunkin Donuts, UPS stores, etc. It's one building, one-story tall that's broken off into many different stores. Then we have our indoor malls where there are hundreds of stores inside, which include an anchor store, which is the main store, like a Decathlon or Target to get your attention. There are also office condos which house doctors, offices too. Also, we have warehouses, and even apartment houses. These are considered recession-proof properties. Assisted living facilities are commercial properties as well. Let's not forget about land. People are buying land and putting a cell tower or antennae on the land and making money. 

When you are out driving around, please pay attention to what you are seeing. Start noticing these commercial properties. Start thinking about commercial investing! Commercial investing adds a zero. You can do one deal a year in commercial investing and become a multi-millionaire. Some people have done one deal and it has changed their life, enabling them to retire. Don't let it intimidate you. It just has one more zero on the end! 

One of the things about commercial investing is that once you own the property, it's easier to maintain it because most of the time, you will let the pros handle it. You will have a management team to handle the payments, as well as attorneys and accountants handling the day to day work. There will be less day to day work once you own that commercial property, versus a residential property. Let's face it. If you own one piece of property with tenants in there, you know how much work that is. If you have a few properties, it's even more work dealing with tenants not paying, collections, disappearing tenants, and cleaning it out and finding new tenants. It's a lot of work! Virtually, you can pretty much have the pros do it for you. You can hire a management team, attorney, and accountant. Properties generally throw off enough monthly cash flow so that you can have it all taken care of for you. 

Anything you do with residential properties, you can do with commercial properties! You can buy and hold a house and rent it out, as well as a commercial property. You can wholesale it, get a contract on it, find someone to pay more, flip it, and step out of the deal. You never owned it. You get your finders' fee or spread, but instead of making $3,000 or $8,000, you can start making $50,000 to $200,000 just by flipping commercial deals. Just add another zero or two! Don't let it intimidate you! 

You can also lease commercial properties with the option to buy and make the big bucks! 

All of the same techniques you can use with houses, you can use with commercial properties. Note that one of the main differences is how you get the value. You can have two apartment buildings across the street from each other or in the same complex, and both apartment buildings can be identical. But, if one is 30% occupied and one is 70% occupied, and the first one is worth $700,000 and the next one worth 3 or 4 million, the only difference is how much it's occupied. How do you make big money fast in commercial investing? You find the one that is 30% occupied, find 5 or 6 tenants and bring it up to 70% occupied, and then you sell, get out of it, and make the spread. You can double or quadruple the cost or equity of commercial property by controlling it, filling it, and then getting out of it. It's a beautiful thing! 

Don't let commercial investing intimidate you. Add a couple of zero's to the profit! Consider opening your mind about commercial investing. Start thinking big! 

Article Source: https://EzineArticles.com/expert/Nick_Cifonie/237825

Strategies For Investing In Physical Gold

Buying physical gold has become a popular investment amongst investors these days. People who want to see their investment secure elect to invest in physical gold rather than Exchange Traded Funds (ETFs). The reason for wanting to acquire this precious metal is that it is easy to locate and easy to buy. 

Gold can be bought in the form of coins, ingots and bullion, and it comes in different shapes. In the current economic climate, it is an alternative investment class to stock market investing. 

The price of gold has risen steadily since the Second World War and has continued to grow. When it has fallen, it has only dipped a little bit, and most gold investors get their money back. Or if they want they hold onto their purchase and save it for when the price goes back up again. 

Three facts about buying physical gold 

Firstly, Let us take gold jewellery; there are remarkably few people who don't own a gold item.  If physical gold is dressed up in some delicate jewellery is worn by some important personality, the price will increase extensively. If you want to sell your gold jewellery, you would get a return when the markets are thriving. Every woman always has several items of gold jewellery that they have bought over the years. Jewellery can go out of date, and any gold that you may have can be sold as scrap for a price. 

Secondly, a more secure form of investing in gold is the ultimate gold bar. It is true; you cannot find it easily in some places. However, in many countries, you can order online and have it sent through via the postal service. You need to ensure you buy from trusted sources to ensure authenticity. The biggest gain in owning a gold bar is that it's price will undoubtedly increase according to shifts in the economy. This is also influenced by the rise and demise of gold mines around the globe. 

Thirdly, gold bullion is clearly a safe investment because it props up some of the other investments in the conventional markets. All governments always have some money tied up in gold, as a hedge against any financial mishaps. It will require extensive research to find and buy it but it is possible. However, compared to gold bars, you will have the assurance that it contains one hundred percent pure gold. The bullion is not adulterated by being fused with other metals such as copper. Gold bullion usually has the governmental stamp to convince you of it's purity. Therefore, if you are rethinking your strategy on investment, then gold may be an investment class you wish to consider.  It will help offset any shortcomings if the market crashes again. If you are a small investor, then buying a few gold bars every so often will not be difficult to keep either. You could put them somewhere safe in your home, and not forget where you put them. 

Article Source: https://EzineArticles.com/expert/Taneem_Sira_Sarwar/1495041

Being a Financially Independent Woman and In a Relationship

You take care of yourself emotionally, mentally, physically and spiritually, but you may never have thought of it that you had to take care of yourself financially. Being in a committed relationship (married or co-habiting) doesn't mean you have to be totally dependent on your spouse to provide for you. Just because you are in this relationship shouldn't mean that you lose yourself in your partner and their life. You still are a human being, an individual and you have your own two feet to stand on (figuratively speaking) as well as your own hands and backbone to do what needs to be done. Your husband or partner isn't there for you to ride on. 

Here is an example of what I am talking about. When you watch those guys on the unicycle in the circus, they can do some pretty amazing things right, especially up on a high wire. But when you add two people to that single wheel, things get pretty intense and while you watch them on that unicycle you find you hold your breath a lot. What about when you add three people to that one wheeled vehicle? Really gets scary right? 

I know I have seen those circus people get up to 5 people on one tiny little wheel. Not for me thanks. I prefer 4 wheels and a running board. You have a good, sturdy car with 4 wheels on the ground; it's solid and safe for more than just one person to be in, right? Well, why would it be any different for a marriage/relationship and finances? It doesn't matter where you live in the world, why would you put all your trust on a one wheeled vehicle, namely your husband's financial wheel? What if something happened to them? What if something happened to the money they brought in? Look at the way this economy is going? Wonder why it's not as good as people keep wishing it to be? That is a story for another time; but just understand that you don't have to be stuck on that unicycle with your partner or husband. Grab a wheel, stretch out of your comfort zone and get financially independent. It will not only help you in the long run, but think of the benefits of earning an income for yourself, having investments and working as a 'team' WITH your partner rather than expecting them to have it all while you sit in the dark.

When you are financially independent it isn't saying you are expecting the worst of the marriage/relationship, you are just making sure that it is on equal terms so that you can work towards having an awesome relationship. You would be surprised at how many partners actually love knowing that their spouse's don't 'need' them financially and feel more secure knowing that if anything was to happen to them that their partners were very well taken care of and strong enough to get through anything. I have also been told that when they see  their partners financially independent they (the spouse) feel like a huge weight lifted off their shoulders and they don't have this 'thing' hanging over their heads. They WANT to create a cash flow rather than HAVE to create one. 

There are poems, stories, sayings about how strong women are and yet soft on the inside. Why not use that to our benefit financially? We are great at multi-tasking and taking care of others, so why not take care of ourselves too? We would most certainly sleep better knowing the bills were paid, savings account was in the black, kids were well taken care of, what our investments were doing, etc because we are involved in the creation of these things. 

The next time you see an opportunity to help you get financially independent don't be afraid to take the chance...grab that opportunity, it could be the best thing you ever did for yourself and your family. Until next time, have a  prosperous week. 

Business Start Up Ideas For Women

Why Are Women Starting Businesses who are fabulous fifties and above? 

A lot of older workers are finding the job market very difficult these days. Instead of staying out of work or accepting lower pay, many are deciding that they may as well start their own business. Women over 50, in particular, are particularly attracted to the idea of being their own boss. 

• These women say they want more flexibility, and having a business allows them to set their own schedule
• The women want more control over their financial lives
• The have an idea/vision, and being self employed gives them more job satisfaction

Let me mention that being self employed is not for everybody. Even though you may have more control over your work hours, you will still have to have determination and discipline to actually make your business prosper. Depending on whether you have an Entrepreneurial spirit or otherwise, certain individuals are much better off working for somebody else. 

I will say that you do not have to start out with rocket scientist skills or a lot of money to invest. In addition, you can start many businesses part time while you still attend to other duties or a "day job". 

What Type Of Business Should Women Start? 

The type of business you will start depends upon a few things. Your energy level, the way you like to work, and your own skills and interests are very important considerations. I tried to filter down these business ideas to things that would not require a lot of capital investment to start, and that could be started on a part time basis. 

Self-service laundry or Vending Machine Business

Most of the experienced owners say that purchasing a good, established route is the simplest way to get started. You will have to do your due diligence to make sure the route is really productive. But this relieves you of the chore of having to find locations to install equipment.

You will have to be responsible for collecting money, keeping the machines stocked, and making sure the machines are in good repair. You either have to do these things yourself, or you have to hire somebody to perform some of the functions. 

This is a good solution for people who like to be active, and who do not want to get stuck in an office all of the time. You will probably need to start out by doing a lot of the actual work yourself. However, if you expand your business, you may hire employees to do some of the work for you. 

Boutique Bakeries are in! 

Small, boutique bakeries, like cupcake or artisan bakeries, are very popular today. If you love to bake, this can be a good way to turn your specialty into a business. 

Depending on where you live, you may require a commercial kitchen. However, you may solve this problem by leasing space from a church or other organisation that does not use their own kitchen during certain hours. 

You can concentrate on perfecting your treats, marketing, and expanding your business. If your business grows, you may consider getting your own commercial kitchen space later. 

Book Keeping/Payroll/Accounting Services

Businesses need to keep track of their finances in good times and bad. You can find a lot of online classes, or you can draw upon your past experiences. This is one business you can perform out of your own home, or in client offices. 

Antique or thrift shop owner

If you’re crafty or artistic there’s a good chance you’ve considered how you could turn that skill into some extra cash, or maybe even a whole business.

Online shops like Etsy allow you to easily turn your crafting hobby into a stream of extra income.

Online e-commerce platforms are created specifically for helping you list your business and products online. Some of the most popular ones include Shopify and Squarespace. If you’re looking for something more simple you could also try selling on Facebook using Facebook’s business pages as your online shop.

What to consider before starting your own business

Even if you feel like you’re ready to start your own business, there are many factors to consider when choosing the type of small business you want to start. You might not be sure where to start, so here are some of the top considerations you should make before deciding on a business.

Will this be your main source of income, or in addition to the income you already make?

What will the business startup costs be? How much do you have to invest in the business as of now, will you need further financing and if so, where will it come from?

How much time do you want to spend on your business? This relates to the first one, is this your main job or a side gig?

Do you want to use skills you already have and monetise them? Or do you want to learn new skills entirely for this new business?

Are You Ready To Be Self Employed? 

Spend some time researching different business ideas. Try to find ideas that will not require a huge initial investment or a very long work week. As your business grows, you may decide to expand. People who start with a small and manageable business idea tend to do well. 

Money Makeovers for Women

Many women believe we are unable to stand solidly on our own two feet when it comes to our financial lives. We might already be successful Entrepreneurs or Career women in our own right, maybe even Millionaires in the Expat Community, yet many tell me that if their partner died or left, they don't know what they would do regarding their finances. They don't believe they can understand the financial world, especially the investing part of that world. 

A lady last week told me she has turned her money over to someone else to invest and it has lost half its value and she just figures that's the way it is. This was a male broker who she thought was an expert.

One of my old colleagues makes plenty of money but she never pays her bills on time, never believes there will be enough and lives by the hard work model. She gives her children whatever they want but she doesn't take care of herself by paying bills on time, she doesn't know where her money is going and is unable to manage her spending.

Another woman in business knows she must do something about her retirement account so she finally meets with an advisor her partner recommends. She turns her money over to him, walks away and hopes for the best.

Another woman that attended one of my events had always managed her own finances and investing and did an amazing job. However, she got re-married later in life to a man who wanted to take care of everything- including both of their financial positions. As a couple they did not discuss finances and she handed everything over to him to take care of. He promptly lost everything they had. There is a health situation and are now facing retirement with limited financial resources. This was a woman who had been successful yet still turned everything over to someone else.

These are all very bright and successful women. I wanted to find out why this was happening. This is why I created Femvestorsglobal, to provide women with knowledge and confidence so you can maintain your financial fabulousness and not outsource this to anyone else. I knew it didn't have to be this way and I became determined to help create a change in this area of women's lives. 

My real passion and commitment is to change the statistics that 1 in 5 working women today are retiring with zero.1 in 3 women are also victims of Domestic Violence and stay in relationships as they have no other means to financially survive. I want you to live the life you were meant to live. Money is a vehicle that can either disempower us or empower us in so many ways. 

I want to support you in becoming completely free and independent and living from your innate power and aliveness. This is why I continue to write these free blogs. Now, what can you do right now to begin to change the relationship you have to money?

Join our Community Femvestorsglobal.com and become financially fabulous.

To begin, you need to begin......Today is a great day to start!

Why Many Retired Women Live in Poverty - And What You Can do to Prevent It

Retirement for women is different than for men, and unless this fact is recognised and acknowledged, a woman's retirement may become something less than golden. My intent in this article, is to discuss what we can, even must do, to assure our years in retirement are some of the best years of our lives. 

There are many reasons for us living in poverty during their 'Golden Years'. Below are some you may recognise, and suggestions and solutions you may wish to consider. 

Problem #1: Many women rely too heavily on our spouse 

For income during the working years, benefits during retirement, and for ongoing financial guidance and advice throughout the years, with unforeseen and tragic results in many cases. (3 of every 5 elderly women face retirement without a husband). 

Problem #2: Work Patterns 

We often have irregular work patterns, due to marriage, children, care giving and other responsibilities. This often leads to us not earning full retirement benefits, or any benefits at all. Even when we do earn and contribute to our retirement accounts, our benefits tend to be a fraction of what men receive because of our lower earnings and complicated schedules that penalise us for moving in and out of the workforce. For these reasons men's pensions tend to be upwards of two and a half times that of women. 

Problem #3: In all too many cases a divorce occurs, sometimes even later in life, and the financially inexperienced woman is set adrift in unknown waters. 

For wealthier couples, the assets are divided in what appears at first glance to be equal, but the woman's share may include the family home with a hefty mortgage payment, while the husband receives the cash equivalent to rebuild his life. In addition, the ex-husbands income is not disturbed, while the woman's income may be dependent on temporary alimony and/or child support. Whatever income we are able to generate by going back to work, often with little or no job skills and being out of the work force for many years, brings lower pay, therefore lower future retirement benefits. 

Problem #4: Widowhood upon the husbands death the retirement fund can cease or decrease (geography dependent), putting the widow in a financial bind. 

One-third of women who become widowed are younger than 60. Half of all women who become widowed are younger than 63. Widowhood can severely jeopardise a woman's economic prospects. 80% of women live longer than their spouses and often by many years. The risk here is if we try to maintain our current living standards, we may deplete our savings over time. As health expenses or long term care needs arise we may be forced to reduce her standard of living, or spend down assets in order to get assistance. Neither of those choices bode well for our quality of life. 

Solutions, Recommendations and Strategies 

First, educate yourself about the family finances. Make sure you have a good overview and understanding of what assets are owned, how they are titled, who the beneficiaries are, etc. 

Prepare yourself to manage your own finances, as the odds say you will need to do just that at some point. 

Make sure you are named on all family accounts as owner, co-owner, or beneficiary. This establishes your legal right to these assets should the marriage end in divorce, death, or even if your partner becomes incapacitated. 

Next, build what I call the Three-legged Stool of Lifetime Financial Security: 

1) Inflation protected lifetime income 

2) Growth/income investments for future needs 

3) Long term care protection in the form of assets or insurance, or some combination of both

Some of the solutions to ensure your lifetime security could consist of: 

• Your social security retirement benefit 
• A secondary inflation adjusted income you can't outlive 
• A prudently managed growth/income account to keep pace with the cost of living
• A creative and flexible method of protecting your potential long term care needs 

5) Time tested strategies of ensuring you pay no more than your fair share of taxes 

Article Source: https://EzineArticles.com/expert/Steve_Hood/81257

Ladies- we need to Create Our Dignity Money

So what is "dignity money." This is the calculation of money you'll need down the road in order to live a very minimal, luxury-free life each month. It's your insurance, so to speak, against destitution, facing poverty - or being referred to as the 'bag lady'. 

You can figure out how much dignity money you'll personally need by determining the smallest amount that it will cost you to live each month. Add up what you spend each month for food, transportation, taxes, housing, telephone, utilities and insurance. Don't include any frills. 

One very important basic is your home. If you own your house or apartment, your mortgage or maintenance is likely to be one of your major expenses; it is perhaps your single greatest expense. Paying off your mortgage greatly reduces your monthly outlay and therefore reduces your total dignity-money requirement. For many women, a preference to eliminate mortgage debt is the more safer and secure option. Having to not pay any mortgage yourself is an essential step to achieving financial independence. Calculate your dignity-money needs both ways-with a mortgage and without. Depending on the current size and condition of your living costs, you may find that financial independence may arrive for you only after the mortgage is paid, whether that date is five, ten, or more years from now. 

Your dignity-money calculation can be a rough number; that's okay. It might be $1,000 a month or $10,000. Each person's sum will be different. In any event, your dignity-money figure is the target level of income for the first stage of creating your financial freedom. Your goal is to generate this amount of cash each month going forward so you won't have anxiety about the basic care of yourself in the future. If you already have your dignity money, then you can feel at ease. Knowing that you're financially secure should give you a good feeling all over and relieve whatever stressful flutters you might have had about money. If you have yet to establish your dignity money, then it's time to begin working toward it. Believe me, no outing, new trinket, or other toy is worth the cost of not taking this step. 

How do you figure out how much you need in order to generate your dignity money? The calculation is simple. Multiply your monthly dignity money number that you've calculated by 12; then add a 0. This provides an estimate of how much money you'll need to invest in order to generate the appropriate monthly income. For example, if your minimal monthly expenses are $4,000, then multiply $4,000 by 12 and add a 0. That means your yearly expenses will total $48,000. 

You will need $480,000 in order to provide you with dignity money. Why? At $4,000 a month, your yearly expenses will total $48,000. The rate of return on investments varies, of course, but history shows that a yield is approximately 10% each year. This means that you will need $480,000 in order to pay you an annual income at the rate of 10% per year, or $48,000. The same formula-monthly expenses times 12, plus a 0-works for any expense level. If your minimal monthly expenses are $6,000, you require $720,000: $6,000 times 12 is $72,000; adding a 0 brings it to $720,000. If your monthly expenses are $1,500, then you'll need $180,000. Do your own calculation. 

This calculation requires one important adjustment-deductions based on the inflation rate. Inflation gradually shrinks your money's value. Therefore, whatever figure you compute will be worth less in the future. Consequently, the amount in you will have to be somewhat greater to compensate for the effects of inflation. Unfortunately, no one can know for sure how high the inflation rate will be in the future. A high inflation rate, like the one we experienced in the 1970s, will have a strongly negative effect on the value of the money generated, just like today, we are seeing between a 5- 8% inflation rate in most western countries. Noting that the moderate inflation over the last  10-15 years (averaging around 3% a year) isn't nearly so powerful. The power of inflation grows significantly as time passes. If you are only one or two years away from the time when you plan to ease out of working, inflation will have little effect on your plans. But if you expect to work for two or three more decades, inflation will make a noticeable difference.

Let's say you calculate your dignity money to be a whopping $600,000. That seems like a lot of money, the thought of how to amass such an amount might be daunting. But if you save this $600,000 gradually, rather than all at once, it will be much less intimidating.

Lets have a look at a couple of examples: 

Rachel enjoys her museum work, and David enjoys his work, too. So they see themselves working into their mid-sixties. That's about thirty-six years from today. Using the Rule of 72, we calculate that if their money grows at an average annual rate of 10% (a conservative average return on stocks), it will double every 7.2 years. In thirty-six years, when they reach sixty-six, their current $10,000 investment can double five times: 

o $10,000 = $20,000 

o $20,000  = $40,000

 o $40,000 = $80,000

o $80,000 = $160,000 

o $160,000 = $320,000 at age 66 

So with their current savings of $10,000 alone, they're halfway to their goal! Now all they need to do is squirrel away some money each month in order to meet the other half of their goal. It is likely Rachel's income will increase with raises, promotions, and career moves, and David's contracting business is expanding rapidly. This should dramatically raise his annual profits. As they both eventually accumulate more cash to invest, they will gain more momentum. Another plus: They have only about $50,000 left to pay on their mortgage, so they will own their house by the time they want to ease out of working full-time. 

Lynn said: 'To grow my own dignity money, I estimate that I will probably need $700,000. That means I'll have $70,000 a year to live on." To advance to the next step-to live more freely, to travel several times a year, and to entertain and frolic without guilt at some of her favorite stores-in other words, to maintain her present lifestyle-she will have to have more cash invested - in excess of $1 million. And she likes to dream even bigger, and is inspired for several million dollars. The important thing to note is that  you need to begin with securing your financial necessities and then moving on. And the tools are at hand to make this process easier than our fears would lead us to believe. 

Betty figures she'll need less dignity money than Lynn does. She earns $76,000 a year as a Lawyer at a small public interest firm that specializes in environmental law. Betty grasps the principle of spending less than you earn and investing the difference and is prepared to do exactly that. Right now, her basic, no-frills monthly expenses total $3,500. She is looking for $420,000 to establish her dignity money. "If I cut back my expenses, I think I can eventually squeeze out $10,000 to invest," Betty announced. "That means you have to really shave those credit cards," I reminded her. But if Betty is able to commit $10,000 a year, she'll be in great shape by the time she's sixty-five. The benefits of securing income are pretty obvious. It's possible to handle it all along the way and still have a good time enjoying life as you go.

Article Source: https://EzineArticles.com/expert/Joan_Perry/216137

Is Retirement Different for Women?

In a recent interview, I was asked the following question: 'How is retirement different for women?' 

This was my answer... I think the main advantage for women is that we're more likely to have a supportive network of family and friends around us than men are. 

And I think that we're more willing to admit that we don't know things and to seek out help when we need it than men are. 

It's a cliche but it's a good example, that when women get lost when they're out driving, they stop and ask for directions. I'm sure many of us have experienced men who would never dream of asking for directions - they just carry on driving in the hope that they'll eventually find their way again. In the same way, I think that women are much more likely to seek out help and emotional support when they need it than men are. A recent report from the Equality and Human Rights Commission says that 'Women are outstripping men in a dozen different ways that mean their lives are often better than men's lives are'. It said women are more likely to be well-educated and more likely to look after their health by eating their five daily fruit and veggies and by visiting their doctor when they first start noticing symptoms. In contrast, men don't live as long as women, they're more likely to be overweight and they're three times more likely to take their own lives - presumably because they don't have those supportive networks to turn to. 

So there are advantages to being a woman that will work in our favour in retirement. 

The big disadvantage for women is a financial one, we're more likely to be poorer than men. Although we're more likely than our mother's generation to have had jobs, we're still more likely than men to spend our retirement in poverty. According to a recent report, over three-fifths of single pensioner households here in Britain - many of which will be single female pensioner households, have a total income of less than £10,000 and another, American, report from the Women's Institute for a Secure Retirement, said that more than 1 in 10 women live on less than $10,000 a year in retirement. 

There are several reasons for this poverty and they're all to do with being female: 

Women STILL make less money than men over the course of their working lifetimes, and we don't get as many promotions as men do 

Women are more likely to have worked in low-paid jobs or to have worked part-time. We are more likely to have had time out of the workplace due to raising children or looking after elderly parents, so we have fewer years to build up our retirement savings. At the same time, during that time that we are out of the workplace, we are also losing out on years of paying into a retirement plan - and if that comes with an employer contribution, we are missing out on the employer's contribution too. 

Most women who have children, have them during their most vital career-development years. Meanwhile, our male colleagues stay in the workforce, get promotions and climb the corporate ladder. When those women return to the workforce after the kids are in school, we are usually going back in at the same level that we left at years before, or, we find that our skills are obsolete, we are going back in at a lower level. So all this puts women further behind in our careers and further behind with our retirement savings. 

There are a couple of other things that contribute to women's potential for poverty in retirement. In addition to women generally earning less than men over the course of our lifetimes, we live longer, so any money we have managed to accumulate has to last us longer. 

Then we have the fact that women tend to take care of everyone else in the family before considering our own needs and so we tend to use the money to help someone else, rather than investing it for our retirement. We will help our kids out, or we will use the money to support our elderly relatives rather than sticking this into a retirement fund. 

And, finally, as far as investment matters are concerned, women tend to be more risk-averse by nature and therefore, we are more likely to be more conservative investors, which, of course, means that, by the time we retire, we probably won't have made as much money on our investments over the course of our working lives. 

Which is all a very long-winded way of saying, yes, I think retirement IS different for women... 

 Article Source: https://EzineArticles.com/expert/Ann_Harrison/33702

Financial Freedom for Women

Finance management is something that comes naturally to most women. 

It has been accustomed to that while men work, we handle the finances of the household.

It comes with the patience and fortitude that most men are not gifted with. 

As such, the search for financial freedom hits us way before it hits men.

While men think of just providing for the family, we think of how to make the budget fit. And so, financial freedom for us comes differently. 

We aim for the more profound things. 

Our children's education, having enough to sustain our needs, and hopefully having more to fulfil our wants. 

We often think of making the finances fit according to our lifestyle. 

Some families have financial sources from both parents, others just from the fathers.

But what about those who raise their kids alone? 

What about those marriages that end in divorce? 

We should be able to provide for our children even when the marriage ends in divorce. 

we need to have more than just a day job to achieve financial freedom.

But although it is not something that happens overnight, it still is something that can be achieved with patience and endurance. 

Financial freedom for women is up for grabs for those who trust themselves enough to believe that they can have it. 

Regardless of how bad your finances are right now, you can still pull yourself out. 

You can still shake all those unwanted financial strains and be worry free. 

Here's how:

1. Know your financial status. This includes everything you have and not just cash. Think of what you own versus what you owe. This will help you balance your finances. 

2. Evaluate your credit history. Assess your credit limits and how often you go overboard with your spending. Take note of what makes you overspend. 

3. Make reasonable financial goals. Do this in relation to your dreams, your responsibilities, and your priorities in life. Make your goals achievable and measurable.

 4. Create an investment plan. This is so will have an idea of how to correctly allocate your assets in relation to your current financial situation.

 5. Make investments as often as you can while it's still early. The earlier you invest, the sooner you get a return on investment (ROI). This conveniently allows financial freedom to be achieved in no time. 

6. Make the most of tax-advantaged retirement accounts/plans. This will help you earn more because you are likely to spend less on taxes. 

7. Protect your assets. Plan your estate wisely. As much as possible, make your kids your beneficiaries in order to secure their future.

8. Keep yourself informed. Learning is a never ending process. Be updated all the time. 

9. Fulfil the eight steps. With these easy steps, financial freedom for us is not that impossible to achieve. 

Just like any other goal, there must be a plan of action and the ability to put this into action. 

If you could make the time to implement these changes, you will be free from financial stresses in a reasonable amount of time.

Financial Advice For Single Women

Financial advice geared toward single women is more important than ever before. 

Roughly one-quarter of all households are currently headed by a single woman, with family sizes ranging from no kids to with kids. It might seem financially unfeasible for one woman to raise children on her own. Further complicating the situation is the fact that the majority of female-led households have a smaller income and smaller savings than households of similar size led by men or couples. 

Although no one likes to think that there is such a clear difference between income levels based on sex, most single women do have a more difficult time making ends meet; they make roughly half of the national average for other households of their size. Whether they are experiencing discrimination in the workplace, struggling to raise a family, or dealing with the aftereffects of divorce, it can be difficult to gain a solid financial foothold in today's economy and society.

Fortunately, there are organisations such as Femvestorsglobal who specialise in assisting women who support themselves financially. In addition to taking a unique approach that makes it easier to save without substantially cutting back living expenses, they can provide more realistic solutions for the long-term, as well - ones that take into account the struggles of getting by on one salary when faced with rising healthcare and childcare costs.

What Can Single Women Do to Save? 

The most important thing single women can do for themselves financially is to simply do something. It may not seem like much, but even sitting down and creating a list of goals for the future can be a vital first step. 

Step One: Figure out your current financial situation. 

How much money do you have coming in every month? How much money is going out? Where are there potential areas to start saving - even if it's as little as a few dollars per month at first? 

Step Two: Find a way to save. 

In order to get started on most savings and investment plans, you can have a small amount in hand. We  will be able to help you discover where to cut back to make those savings so that you can start investing earlier. 

Step Three: Invest. 

Single women without kids tend to be bigger risk takers than single women with families - at least when it comes to investing. That's because they don't necessarily have the day-to-day pressures of taking care of children. But the good news is that there is no one answer for single female investors. Whether you want to take advantage of a high-risk investment or you'd rather rely on low-risk bonds, there are financial solutions that will help you get the results you need - many of which you may not have considered before. In fact, some single women are surprised find that purchasing a home or making another large "dream" purchase can not only create a better standard of living, but can also be a sound financial investment. 

Finding the Right Financial Advisor 

Choosing an advisor to help you make smart decisions for the future is much like choosing someone to date; not only do you need a relationship you're comfortable with, but you need to feel confident that your advisor is doing everything he or she can to create the best possible outcome for your entire family. 

Ladies- this is where Femvestorsglobal can support you.

Article Source: https://EzineArticles.com/expert/Wesley_Watkis/362080

Women Over 50 - 5 Tips For Financial Independence

Financial independence is the goal of most people especially as we approach retirement. Once we can see that turning

retirement age is just around the corner, thoughts of financial independence seem to become more frequent. Unfortunately, some of these thoughts are more than that. 

They are mild forms of panic attacks and financial anxiety, especially if the retirement nest egg isn't looking great. 

While these concerns affect all people, women over 50, especially those who are single, becoming financially independent is important for our survival, if we are desiring a comfortable retirement. And why shouldn't they be. 

Working for most of our life, retirement should be a reward for our hard work. But if the retirement pot is a bit empty, what can we do to fill them so that our senior years are not on "Struggle street".

For women over 50, here's 5 tips to help you create financial independence: 

1. Create More Income 

Yes it is easier to create wealth by having more income or a higher paying job. However, for women over 50 it is sometimes harder to move into a higher paying job- based on our age, qualifications or prolonged employment gap if we took time out to support family members. 

Perhaps an online or home based business could provide some extra cash, or a part-time job. 

2. Invest Your Surplus 

There are many courses and associations to assist women over 50 to learn how to invest their surplus income to provide for a better retirement. Look for such associations in your local area and start taking an interest in the share market, cash management funds and real estate. With time this surplus correctly invested will compound to build you a nice nest egg.  Femvestorsglobal is an amazing support network of women, in terms of commencing your investing journey. We hold your hand along the journey so you can take control of your finances sooner rather than later.

3. Money Is Taxing 

Make sure you have a good accountant and/or tax advisor to give you great advice on the best investments offering the best tax advantages. While women over 50 need extra income to invest, it is also important to cut your expenses especially by paying lower taxes.

4. Get More Out Of Your Time 

Having more time is a dream of most people. But there is only 24 hours in a day. How do you maximise your time especially with earning money. You engage the power of leverage. 

If you can earn additional income over and above you main job' you will create more wealth. But you are still exchanging your time for money. And there is only one of you. 

What if you could 'employ' a team of people whereby you could earn a percentage of their income. As well as leveraging people you can also leverage time - more specifically time zones. Why not have your team not only where you reside but also in different states and countries. So when you are asleep, your team members in another country are working and you're earning as well. Home based online businesses can offer such an opportunity.

Alternatively, (and I appreciate this is not for everyone!), you could relocate overseas to a country with not such a higher standard of living, so you can accumulate more money with an online business. You have the ability to work anywhere, whilst reducing your monthly out-goings/bills. Ultimately, our money will go so much further,

 5. It Takes Two To Tango

Going solo in life does have some advantages, however, it can also have it's limitations. Creating wealth or extra money can be one of those limitations. 

Sharing experiences and creating opportunities to jointly build wealth is more enjoyable when you're not on your own. 

Note that Women over 50 should never have a sub par retirement. There are ways to ensure this doesn't happen. 

The great opportunity is that there is still time for many of us over 50 to have financial independence. We just need to take action sooner rather than later.

Article Source: https://EzineArticles.com/expert/Greg_N_Reed/245120

Why Women Stay Poor

Legislation aimed at addressing the earnings gap between men and women has been around for more than 50 years. Despite that women still earn substantially less than men (80 cents in the $) and continue to work in lower paid professions. Progress is being made but not as fast as we might expect.

So how does our conditioning and make up impact our attitude to money and how does that get in the way of reaching our full potential (which should be at least equal to our male counterpart)? 

There are certainly enough motivators. We hate the fact that we don't have enough money, we know we probably spend too much and we certainly know we don't save as much as we should. 

Every day we read horror stores about inadequate retirement and old age poverty. These are still not enough to spur us into action and take control of our income generation. 

The answer lies in our conditioning and is intrinsic to who we are. Until we understand how this impacts our attitude to money, all the changes in legislation and extended maternity leave in the world will not raise our earning levels. 

Our conditioning is determined at a very early age. Some time between the ages of 0 and 8 we are taught a set of values or beliefs. In fact, David McClelland, Distinguished Research Professor of Boston University, proved it could be as early as 0 to 3 when our 'values' are determined by our parents and those most closest to us. These values impact how we feel about and respond to all sorts of things including our attitudes to money, wealth and the types of work we should be pursuing. 

The emphasis on should is deliberate. Values are all about what we believe we should be doing to please others, to please society in general and to fit in. 

For women and money this is complicated. Women today are taught the importance of being financially independent, to be self reliant because, after all, 'a man is not a plan'. However, sometimes the messages we hear growing up are inconsistent and conflicting. On the one hand, we're taught about the importance of money the need to spend and save it wisely. At the same time we are taught that it's just as important to be kind, sensitive and easy going; that the most important thing is our relationship with others and not our relationship with money. 

We are different to men: we are not taught how to be powerful or how to win at all costs. This makes us reluctant to demand what we think we deserve, including equal pay. 

To add insult to injury, going back generationally we were told at a very early age that girls are poor at maths. From this we conclude that we must be bad at finance and managing money as well. As a consequence, we lack confidence in dealing with money, preferring others to take charge. 

If our grandparents were raised during or shortly after the war, we also inherited a mentality of scarcity by our own parents, which continues to impact our attitude to risk and money as we become adults and parents in our own right.

 What has been the result? 

Besides the earnings gap which persists, a survey by the Economist Intelligence Unit on behalf of Barclays Wealth showed that we are far less likely to take risks with our money, whether in personal finance or business affairs. Women tend to place less importance than men on our income from investments and we save to reach a goal. Once the goal is reached we will often act to protect what it is that we have built up. This means we are limiting our potential to create even more wealth and be financially free. 

Men have a different attitude and game plan. The same survey showed that men claim to have better knowledge than women of every aspect of personal finance. They are more confident and as Dr Ros Altmann, Governor of the London School of Economics states, "Men have more of a mindset that you have to just go out and get it and you can see their attitude towards risk taking in the games they play." It may just be a matter of confidence or bravado, but men play to win, take less time researching investment products and invest in the longer term. 

Does this all mean we are doomed to stay poor for the rest of our lives? No! It means that what you focus on is what you get and it's time to focus on getting rich. Being rich is a positive thing. It is about flexibility, freedom and being in control. 

What do we need, to become financially free? 

1. Choose to do something about your financial literacy. 

Financial skills are not innate but learnt. We need to learn financial skills and practice them to gain confidence.

2. Spend don't save 

Invest a defined amount (minimum 10% of your net income) every month into a high income bearing savings account - but don't leave it there. Once you have accumulated enough, buy an asset which will produce passive income indefinitely. This could be an investment property which produces positive cash flow or stocks which pay dividends. Use this positive cash flow to buy a second income generating asset and continue to build assets. 

3. Develop financial goals and stick to them 

After you've built your financial skill, define how much income and assets you need to make you feel 'rich'. This will be different for each individual. If you are planning your retirement fund aim to build a fund that contains 25 times the annual amount you want to have when you retire. So, if you want a total income of $35,000 each year when you retire, you need to have $875,000 in your retirement fund.

4. Reward achievement in investment - don't use spending as emotional support 

A client wanted to buy a new Audi sportscar for $500 per month. Our challenge to her was to develop a stream of passive income to produce $500 per month within a year and then buy the sportscar as a reward. 

5. Network, network, network - but network with financially literate and clever people. 

We are told that we are great at networking so use this skill to build networks with others (both men and women) who are interested in building wealth. 

Article Source: https://EzineArticles.com/expert/Pam_Kennett/31862