Divorce Advice For Women

You're probably thinking about divorce or maybe your divorce has already started and you need some advice. Divorce is a stressful and emotional experience and for many, it can become a nightmare. Are you discovering that your divorce is not turning out as planned? Is your husband bad mouthing you to your lawyer and everyone you know? Does your husband want more child custody just so he doesn't have to pay more child support? Does he believe you do not deserve the house, the cars, the dogs, or retirement fund? Divorces can get nasty. They start off well, you're both in agreement, but then the lawyers start putting ideas in your head about property and custody. 

Getting Started With The Basics 

First thing first when it comes to divorce is money. I know it's sad but true. Why make it about money when it should be about getting out of a loveless, manipulative and controlling relationship. It should be about protecting the children and the welfare of everyone involved. However, lawyers, court fees, mediation, evaluations and expert witnesses are going to cost money to help you plead your case. Step one is to prepare financially. If you don't have any money for a lawyer, then you should start cutting expenses and putting money aside until you can afford one. Make room on credit cards and ask friends and family to borrow as much as they can give you help you out. I know, you shouldn't burden others with your financial situation, but it's better to owe your friends and family money for the next few years than it is to endure another day in a bad marriage. 

Daily Diary 

Keep a journal of every fight and argument you have with your husband so you can recall dates and information really easy. The worst thing you can do is say something negative about your husband without anything to back it up. Write down how it started, what was said and how it ended. Do not leave out details and make sure to record the date and time the conversion started. Also note down anything your husband says he is going to fight for and keep good notes on anything he says he is willing to give you without a fight. Sometimes husbands change their minds about what they want to fight for once they get a lawyer. Keep notes on everything 

Property Records and Finances 

Make sure your name is on everything you want to fight for, including houses, cars, bank accounts with money and retirement funds. If your name is not on any of these pieces of property, you could end up not getting your fair share of them. Start investigating your husband's income, bank statements, receipts and anything else you can discover he has of value. Remember anything he has purchased while married, even if your name is not on it, you could be entitled to. Start saving money in a separate bank account or in cash. Most of all make sure you have enough to hire a lawyer as soon as you're ready to file divorce or as soon as he hires his own lawyer. You want to be the first to act in a divorce. 

Lawyers, Divorce Guides, Divorce Coaches and Child Custody 

Remember, unless you both agree to divorce and who gets what property, that divorce is a battle and you must be prepared legally and mentally. Hire a good lawyer that will fight for you and one that is affordable for you. Do not price shop a lawyer, because you get what you pay for. Interview your lawyers to find a good match. Once you have found a lawyer get yourself some good books and guides on divorce. These guides will give you inside strategies your lawyers are not willing to dish out unless you have lots of money to fight with. If you can afford it, find a divorce coach to tell you what to do each step of your divorce processes. Last but absolutely not least, get your hands a hold of some guides on how to win child custody. Lawyers do not give out much advice on how to win custody, but they will surely spend the money putting up the fight. Educate yourself on what matters when it comes to child custody and evaluations. 

Be prepared financially, legally and educationally. Take charge of the divorce process and always stay on offense. The first one to act will get the upper hand. Do not wait for him to get a lawyer first. 

First thing first is to get a free consultation with an attorney familiar with divorce and child custody in your jurisdiction. 

Get a free no cost obligation of your legal rights to divorce and custody. The free consultation will let you know yours and his legal rights to divorce and child custody. They will also let you know how to protect yourself and how much its going to cost. Just remember the first one to act will get the upper hand. Do not wait for him to get a lawyer first. 

Child custody is a completely separate issue and battle from divorce and usually 90% of the expenses and heart ache. Use these strategies to get the upper hand from day one. 

Do not wait until things start to go wrong to get this information that you should be doing even before you start the divorce process.

I wish you all the best of luck!

Article Source: https://EzineArticles.com/expert/Janice_D._Rubin/430883 

Find Your Passion and Start Living It!

Retirement can be an exciting time in your life, but it can also be daunting. You may feel like you've lost your sense of purpose or structure now that you're no longer working. The transition from a full-time career to retirement can be challenging, but it doesn't have to be. If you're about to retire or have recently retired, there's a book you need to read called "So What Do We Do Now?: The Babyboomers Guide to Enjoying Retirement" by Eva Bennett.

Bennett draws on her own experiences of adapting to her husband's retirement, which involved moving to a seaside town. She ranks the impact of this life-changing experience right up there with childbirth. While we had the benefit of antenatal classes and new mothers' groups, there's very little available for impending retirees or the newly retired.

Retirement isn't always what people expect. Recent retirees said they were happier when they were working because they felt they had a purpose and structure to their days. Retirement doesn't mean retiring from life. There's an increasing trend for people not to retire outright, but to start working less. Research has shown that retirees who cease to contribute and to be productive and active, die earlier than those who continue to engage fully in society.

According to Bennett, the beginning stages of retirement are like a honeymoon period. You don't have to get up to go to work, you can play golf or go fishing whenever you like, and don't have to work to deadlines. But the euphoria and the novelty soon wear off. After all, there are only so many lattes you can drink and only so many times you can go fishing. Then what? Life can get boring. We need to re-evaluate who we are and what we want out of life because our former identity is no longer relevant.

There are three stages to the transition from old to new:

1. Endings (where we let go of the past),
2. The Neutral Zone (where we review the past and reflect on what we want to do now) 
3. New Beginnings (where we decide what we need to change or do differently)

As you create the new you, it's important to keep all aspects of your life in balance, including your finances, home life, health, relationships, leisure time, and your purpose in life.

One of the secrets of a healthy, active, and happy life is to feel young psychologically. It's never too late to find your passion and start living it. The so-called Third Age is the time to give back to the community and share your knowledge and wisdom. Being positive is an important part of enjoying your retirement and contributes to living longer. Some people enter retirement filled with negative thoughts and fears of ill health and lack of money. The key to happiness is to be happy with whatever you have.

In conclusion, retirement can be a challenging transition, but it's also an opportunity to create a new and fulfilling life. By reading "So What Do We Do Now?: The Babyboomers Guide to Enjoying Retirement" and following the three stages of the transition from old to new, you can find your purpose and balance in life. Remember to keep a positive mindset, stay active and engaged in society, and enjoy all that retirement has to offer.

The key is to find activities that align with your interests and passions, and to stay open to trying new things.

How to Protect Yourself From More Debt when Considering Separation and or Divorce

Several men and women are staying married, but living separated because of today's economy. In fact, there are still separated men and women who are sharing the same house. We often associated divorces with long messy battles, so why is this happening? 

It is happening because people just don't have the money to spend. Especially married couples with children are realising that it is in their best interest to live together but separately for the time being. But what if you aren't one of those individuals? What if you and your spouse have decided to part ways? What if you were enrolled in a debt relief program at the time? Or, what if you need to enroll in one now because you owe a lot of money to the creditors? 

Agreements: When it comes to divorce, if you own any shared assets, these will often be divided up. In the case of a home, that home is often sold during or after the divorce. If the home still has a mortgage, that amount is paid off first. Unless other special arrangements were made, the leftover money from the sale is typically divided between the two. A similar agreement needs to be made for debts. 

Lets say you two have a credit card (with both your names on the account) and that credit card has $100,000 in debt. You both used the card; therefore, it is debt that belongs to both of you. One of the first things you want to do is bring this to the attention of your lawyer. This debt can and should be worked into your divorce agreement. 

While there are steps that you can take to protect yourself when it comes to divorce and debt relief, there are some men and women who are placed in very unfortunate situations. They had their ex-spouse up and disappear or outright refuse to pay their portion of the debt. You might be surprised how much this happens. You want to keep your credit and finances in good standing, but it seems as if they could care less. What should you do? 

As tempting as it might be, you don't want to avoid paying the bills. You think "it isn't my responsibly," but the creditors will still come after you. You could always go the route of small claims court, but right now your focus should be taking care of your credit. This is particularly true if you have children; you'll never know when you need financing for a car or medical emergency. Here comes another problem though, if you are now a single parent you are struggling to make ends meet. The best thing for you to do is to talk to a debt relief program. 

In this case, debt relief programs that focus on consolidation typically aren't recommended. You will get a consolidated loan in just your (not your ex's either). Should you ever later want to go after them in small claims court, you might have hurt your chances. That is why settlement is best. What happens here is the amount you owed is reduced. A settlement company will agree to get your creditors to settle for less, making it a lot easier for you to pay. 

There has really never been a more advantageous time for consumers to try and eliminate unsecured debt. Creditors are very concerned about collecting and most have government money to make eliminating some of your debt financially feasible. 

Article Source: https://EzineArticles.com/expert/Morgan_Laronte/453774 

Women and Money: The Fairy Tale

It always seems to surprise me that even in 2022 where women are making more money than previous years, obtaining corporate management positions, creating businesses and in some cases earning more than than their partner, we still struggle with the concept of "understanding our financial superpower."

I listen to so many of my clients who have no idea where important documents are, how much they owe on their home or where their pertinent financial information is stored. 

I see the same behavior today, where women are making very good incomes, yet they have nothing to show for it but a nice wardrobe and car. They often are not maximising contributions to their retirement plans at work or building a savings nest. They save all these "money decisions" for their "prince charming" to take care of and they simply don't make money a priority in their busy lives. 

Let's bring some reality into this picture, shall we? "Prince Charming" is a Disney character! 

Most often than not your partner wants someone to have some sort of financial goals and independence. 

Also what about the 50% divorce rate? If something does happen, where does that leave you? 

Understanding your net worth, credit scores, and living expenses makes you a powerful and intelligent woman. 

Why would you not invest time into securing a success financial future? 

In addition to the reason of divorce, we know that women out live men, so why would you continue down the path of being financially crippled when you will be left to take care of yourself if he dies first? 

The answer should be "learn how to manage your money now, before you find yourself broke and taken advantage of later." 

Ask yourself these questions. 

Do we have adequate life insurance coverage? 

Am I on the title to our home? 

Is there a living trust in place and a will? 

What are the assets we own? 

How much do we owe on the house? 

If you know the answers to all of these questions, then you are on top of your finances. 

However, if you don't know the answers to these questions, you need to get to work. 

Believe me when I tell you that men understand the value of money management and they stay in control of financial decisions. 

We as women must take the time to learn just as much as our male counterparts as well as teach our daughters how to take care of their financial future.

Ladies- What are your Investment Goals?

One of the most important aspects of investing your money is your investment goals.

The first question you ask when looking to invest your money, whether in a new pair of shoes or an investment type, is what outcome you want from your investment. Just as the shoes can provide either heels for a cocktail party or comfortable work shoes, the investment can provide income (such as dividends, rental income and/or profits), an increase in value (which can include property price increases), emergency funds, or a combination of these. 

The main investment objectives are: 

• Capital Preservation-being there when you want it 

• Capital Appreciation-increasing in value 

• Income-paying out money during ownership 

Today we'll look at combining objectives. We all want the best of everything, so naturally we ask why we can't get more than one of these major objectives from an investment. As a general rule, if you are focusing on one objective, then you will sacrifice a little of the return toward that objective when you throw in a second objective. 

This is much like the search for the perfect little black dress that we want to serve two purposes; we want to be able to wear to it work but we also want to wear it to cocktail parties. If it is too formal, then we won't be able to dress it down, but if it is too causal, then we won't be able to dress it up, however, some dresses will meet both objectives. If we focus on one objective more than the other, we sacrifice the goal of it providing the perfect outfit for each type of occasion. The good news is that like the little black dress, there are definitely investments that both increase in value, and provide income at the same time, particularly when an investor considers the overall price trend of an investment class before buying and selling it. 

Some types of investments that are known to pay out decent income are high yield bonds, real estate, commodities. These investments normally pay out the highest income during riskier times, because they have to make higher payouts to attract investors for higher risks. 

This also typically coincides with the low end of the price range for that particular type of investment. When an investor buys such an asset at the low end of the price range, she will receive capital appreciation once the investment increases in value back to more normal valuations. In the meantime, she will receive the income from that investment, so it is meeting two objectives. 

Once again, investment objectives are like most other things in our lives; we begin our search with the outcome we want. 

Begin with first knowing the main thing that you want from an investment; for it to be there when you want it, grow in value or pay out income. 

Understanding and considering your investment goals is one of the first steps toward successful investing that everyone must take. 

Investing For Beginners

Why does investing seem so complicated? 

The number of ways you can invest is mind boggling. The worst part is that investment world uses a different terminology. If you are new to investing it won't be long before you encounter words like "moving averages, average weighted price, open interest, futures and option, book closure" etc. Let me stop before I put you to sleep. All you really want to do is to put your money in something where it will be safe and grow. Is that too much to ask for? 

Why are there so many different investing alternatives? 

Are they really different! If you have ever been to a grocery store you will see bottles of different cleaning products, most of which will be labeled "new!" "Improved!" or even better "New and Improved!" But no matter what they call it, when its all said and done these bottles are filled with nothing more than SOAP, same as they have always been. 

Investments are no different. At first glance it may appear that all these mutual funds, Exchange Traded Funds, Index Funds, unit trust, REIT's, options, futures are unique and require encyclopedic knowledge to understand the technicalities. But more often than not what you are looking at is nothing more than just an old way of investing in a new bottle. 

Understanding investing in simple terms: 

In a family tree you will have a male and a female at top of the list from where all the other branches came out. Similarly in investments at the top you have stock and bond. All other forms of investments are some form or other of these two. And their differences can be spotted just as easily as you can distinguish a man from a woman. 

What are stocks and bonds and what is the difference between the two? 

I will compare stocks to a flashy car; all powerful snazzy, attractive, dangerous, accident prone and bonds to the family car; nothing much to look at, slow, always takes you where you are going, always there for you. 

Some basic traits of the two: 

• People investing in stocks want to see a return on their money, bond holders want to make sure the return of their money. 
• Stocks are about taking risk and bonds are about avoiding risk. 
• Stocks offer unlimited upside potential, bonds offer limited downside potential. 
• Stocks mean ownership and bonds denote loaning. So we can say one is an ownership investment and the other is a loan investment. 
• The difference between an ownership investment and a loan investment is not too hard to understand. The differences are obvious once you know what to look for. 
• An ownership investment does not have an ending date. (When you buy a stock it never becomes due, you have to sell it to get cash) 
• Loan investments almost always have a due date (e.g. your fixed deposits with the bank). An Ownership investments rarely promise a specific return. A stock price can go up 10 times or remain static for years. 
• Loan investments nearly always promise a fixed return. A 12 month deposit certificate promises 2% return. 

Third major distinction is whether you will get your money back. 

In ownership investment there might be no such guarantee.

 A stock's price can go to zero. 

The loan investments are usually backed by the guarantee of the bank, corporation or the government. 

With the above distinctions in your mind try to figure out what you are invested in. 

Few examples are: 

• your bank account or Government bonds 
• loan investment stock or mutual fund
• ownership investment 

What should I invest in? 

Having too much investment in one type can be bad for the investor. Loan investments are unable to keep pace with inflation, you might have your money safe but the purchasing power goes down. Too much risk avoidance will result in less return. 

Similarly Ownership investments can leave you without a penny in your pocket. The Idea is to keep a balance between the two. 

Neither is in a category of good or bad or one better than the other investment rather they serve different needs.

 Needs which can vary from one person to the other depending on ones investment time horizon and risk appetite. 

Stocks and bonds complement each other. 

In case you are new to investing first check your risk appetite, needs and time horizon of investments to decide where you should put your money.

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. 

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

3 Tips for Women to Become Empowered With Money

Naivety, or innocence, puts women in danger because we can easily be taken advantage of. This may be intentional or unintentional, but it is certainly easier to sell something (like an insurance policy, real estate, an investment or a car repair) to someone who doesn't understand it and doesn't ask questions. So maybe the agent isn't intentionally trying to harm us, but if you don't know what questions to ask, neither of you will know whether it's right for you or not. 

Women can easily gain the empowerment they desire by gaining the right knowledge. Knowledge is confidence. Knowledge is safety. Knowledge is power. 

Three ways women can become empowered with their money are to get educated about money, overcome their innocence and work with trusted experts. 

Get Educated About Money 

Where were you taught about growing, maintaining and protecting wealth? Probably not in school or by your parents. In fact, there have been very few places to gain financial education unless you wanted to major in accounting or finance in college (I know... sounds extraordinarily exciting, right?) But now you have more options, there are many places on-line to help you learn about insurance, investments, taxes, estate planning and more. The important thing is that you do it. Take action. Don't ignore your retirement, expose your assets, and take unknown risks with your investments because you are too nervous to learn. You can talk to Femvestorsglobal. but don't just do nothing. 

Overcome Innocence 

Do not be taken advantage of because you don't understand something. Also, don't let your heart blind you and leave you exposed in your close relationships by ignoring warning signs of a money-mess boyfriend. Gain confidence in yourself by taking trustworthy actions. Your innocence will disappear with a good financial education, trustworthy advisers and mentors, experience and the willingness to take charge of your money. The more confident you become, the more empowered you will be. You are not a victim, you are a warrior! 

Work with Femvestorsglobal so we can support you prior to meeting any advisor 

90% of the time the advisor will be a man. You must invest in good advice so that you learn and you are protected. We support you so when you come to Interview advisers, check their credentials, get referrals, and most importantly make sure you are comfortable working with them and feel respected and heard. Often women are dissatisfied with their advisers because they don't feel heard or understood. Make sure this is not the case for you. To continue to grow your self-confidence and empowerment, gain an awareness of your own money habit and patterns as well.

Article Source: https://EzineArticles.com/expert/Angie_Grainger/1086314

Six Reasons Women Make Great Investors!

In the world of money and investing, men and women differ considerably. 

Does that mean that one gender is better than the other? 

Statistics show that there are reasons for women at least: 

1) Women are willing to ask for help and we are not afraid to admit when we don't know something. You hear women say, "I don't know what that term means" or "Can you explain that?" much more than men. 

2) Women are great shoppers and bargain hunters. We know how to look for something that is priced below value and buy it. 

3) Women do their research. Women tend to buy because the deal makes sense, not because we received a 'hot tip' from a friend on the golf course. 

4) Women are less likely to be high risk investors. Why? Because of #3 - we do our homework before making any purchases. 

5) Women have less ego. We tend not to 'brag' about our investments or our rate of return. 

6) Women learn well from other women. This is probably why women-only investment clubs are growing in popularity. We want to see other women succeed and are more than willing to share our experiences and strategies. There is no magic secret to being a successful investor. 

As women, we just need to shift our mindset from "I don't know anything about money" to "I can be a GREAT investor!" 

It's time women took control of not only their finances, but their lives! 

It is a great boost to our self-esteem and a very powerful position to be in. 

Women have been controlling household finances for generations, and making over 60% of all product purchase decisions. 

It's time to go to the next level - the level of controlling our future! 

Article Source: https://EzineArticles.com/expert/Maryanne_Fitzgerald/48987

Ladies- Why Do We Need To Invest?

It is vitally important in this current day and age for all of us to begin taking control of our financial situation and start planning for our future, and the futures of our children. 

We can no longer rely on the government to hand out an aged pension once we retire. We cannot take for granted that at the end of our working life we will be taken care of financially. 

The world population is ageing, due to the baby boomer generation, and within 30 years there will be so many retired people, compared to the number of working age people, that it will be economically impossible for the government to afford to provide any reasonable source of monetary assistance for the elderly. 

The Australian government realised this, that is why they introduced the compulsory employer paid superannuation scheme and are even now beginning to give financial incentives to Self-Funded retirees. 

(For non Australians, the Superannuation scheme (also known as 'super'), is a way of saving money while you are working, so that you will have money when you retire. Whist working, your employer is required to allocate a percentage of your salary each pay, to make sure you have money to live on in the future. The U.S. equivalent to a Superannuation plan would be defined benefit or defined contribution plans).

Most of us have never sat down and even considered the ramifications of why the compulsory super was introduced and for many of us it is a matter of too little too late. Even for the young women in our society - who have a full working life ahead of them, they still cannot rest assured of a comfortable retirement. 

Why is this? It is because that unfortunately even with contributions at the current level of less than 10%, someone on an average wage who works continually for 30 years, is still going to find themselves trying to survive on an income equivalent to less than $20,000,00 per annum in today's dollars. 

You will notice that I said continually working for 30 years. This is another reason why women are particularly disadvantaged. Firstly because they often have to take up to ten years leave from the workforce to raise children, secondly because women in general earn less than their male counterparts and thirdly because an enormous proportion of the women in Australia, for example, will never have received any superannuation contributions, prior to the compulsory superannuation being introduced, and will therefore not have had contributions made over their entire working life so far, giving them even less to fall back on by the time they retire. 

Many women may previously not have thought of lack of superannuation contributions as being a problem, as their husbands may have been contributing to super since they first began work. Unfortunately though with the high number of divorces in this country, it is unwise to rely on the fact that your partner's superannuation will be there for you in your retirement years and even if a large proportion is awarded in a settlement - that it will be sufficient to sustain a comfortable retirement for any length of time. 

All of these factors are why women now more than ever, need to begin taking action to build up a source of ongoing income, that will grow to such an extent, as to be able to provide a secure and happy future for themselves and their children. 

It needs to be a source of income that is unrelated to physical work...that is an income that is generated from income producing assets - and not from our personal efforts. 

One of the best sources of creating this ongoing income stream is to begin building an investment property portfolio, also aptly paraphrased as bricks and mortar. 

We need to start investing in income producing assets now, so that they will have time to grow and develop so that we will be financially independent for our retirement years. 

The most important concept to grasp in relation to building wealth for retirement and for creating finances that can be directed toward charities, or helping out your family is that of Compound interest.

 In mathematical terms 72 divided by Compound Interest Rate of Return = Years for Money to Double in Value. 

Therefore if you have $1,000.00 invested at 10% interest, then the number of years that it will take for your money to double to $2,000.00 is 7.2. It will quadruple in 14.4 years and be worth 8 times as much in just over 21 years. 

If your money is invested at 7% interest, then it will take approximately ten years to double in value. If it is invested at 5% it will double in just over fourteen years. 

The two most important aspects of compounding are one: rate and two: time. The higher the rate and the longer the time something is left to compound, the greater the final result will be. 

This is why the sooner we start investing, the better. 

Article Source: https://EzineArticles.com/expert/Debra_Lohrere/27054

Advice by Women For Women On How to Save - Retirement Planning

Here are some tips about retirement investing for women: 

First, we must understand that Investing is emotional. It is tied to our mindset and sometimes we don't plan far enough ahead for very personal reasons that can often be self-defeating. If you can relate, seek out advice from other women who have made the retirement decision to plan ahead.

Tie your savings and retirement goals to your personal goals. Examine what you believe your health may (or may not) be and whether or not the swimming or golfing or running a marathon goals are realistic and achievable in your retirement.

The 40-60 age group is deciding if they want to change careers, change their life goals, or stay in what they are doing right now. They are at that midway place in their lives where they are planning for their long-term goals. 

Women need 20% more than men to retire because we are living approx. five years longer than men 

Women tend to invest more conservatively than men because we fear losing our money.

• Instead of fearing losing our money, we REALLY NEED TO focus on whether we will run out of money
• If you are too conservative with your investing then your savings won't keep up with inflation
•  Your living costs for retirement will depend on your lifestyle, check out the 4% rule as a starting point
• A diversified portfolio is the best and sticking with that is important! 
• Can you afford to count on living on your retirement pot?
• Be actively involved in setting aside money. We recommend at least 10% of your monthly income to be allocated to your investing journey.

In terms of contributing to your retirement pot:

• Make use of your employer matching program if available to you (Country and Employer specific)
• Check the tax rules for self employment for your home country
• Many countries offer tax relief if you personally contribute, look out for SIPP, ISA, IRA's or applicable for your specific geographic location
• Countries such as Australia have a government agreement with employers. You employer is required to allocate a certain percentage of your income to a unique fund which you can access at aged 55

If you have a windfall of money you may or may not be subject to tax on it, so be smart with your goals and what your plans are for that money so that it lasts for you. Seek advice to ascertain your most appropriate option

• Be smart about what you get because most people go through a windfall in two years 
• Control your destiny with your good choices

Don't try to time the markets and wait it out. Buy index funds today and allocate funds monthly to take advantage of compounding and $ cost averaging

We tend to work from three cash strategies: 

1. Long-term: If you have long-term goals, have your money working long-term. 

2 & 3. Short-Term and Cash Flow: Plan your strategy and work your goals and plans around your lifestyle and what you need and want to happen. Plan for that money. 

And when it comes to retirement planning by watching the news.....

TV media hype is slanted, biased and mostly (just plain) ignorant. 

When you plan for your retirement take these tips into consideration. That way the twenty years you hadn't planned for, won't have you looking for a job at your local grocery store. 

You cannot also overlook the opportunity to start your own business. It is an true way to gain tax advantages, increase your savings and plan for your retirement. 

Dervived from Article Source: https://EzineArticles.com/expert/Mischelle_Watkins/343114

Why Women Make Great Investors

Women really do make great investors. Why? Because investing is about more than just math and numbers. 

Women are becoming more and more deeply invested in their own financial success for many reasons: Careers are being pursued and marriage is being delayed, divorce rates are higher than ever, single-mums and women who are the sole or main breadwinner in the family are increasing, cost of living is rising steadily, job security is virtually non-existent...the list goes on. There are no guarantees in life and situations can change drastically in the blink of an eye. Independence and self-sufficiency are more than just words; they are a gateway to freedom. Women are no longer content or willing to be dependent on others for their quality of life. 

A lot of the Myths about Women and Money floating around out there are simply false. Statistics show that women are blowing the stereotypes out of the water when it comes to money and investing: Women are MORE likely to join a retirement plan, women save on average 10% MORE than men, women actually spend LESS than men, and women are MORE likely to diversify their investment portfolio. 

True power and independence happen not when you HAVE money, but when you know how to MAKE money. 

Just ask any lottery winner or divorcee who has blown through a divorce settlement trying to sustain a champagne lifestyle on a beer budget! A lump-sum goes away pretty fast when there is nothing in place to replenish it. The first step is learning about Assets & Liabilities; the next step is doing something with that knowledge. 

As Rich Woman Coach Nichole explains in a video Coaching Tip about Women and Investing on Robert Kiyosaki's Rich Dad website, there's a lot more to successful investing than just numbers and calculations. The Rich Woman coaches identified their top 5 characteristics that make women great investors: 

• Asking for help 
• Planning 
• Multitasking 
• Diligent research 
• Value shopping 

Let's take a closer look at these strengths, how they each contribute and add up to a Great Investor Profile: 

Asking for Help. Women typically know how to ask for help when they know they need it. And in my experience, more often than not, they prefer to ask other women. Have you noticed all the networks and clubs and resources that are geared towards supporting women in financial and business endeavors? The Daily Worth, WomenOwned.com, Ladies Who Launch, National Association of Women Business Owners (NAWBO), My Wealth Spa to name a few. Many of these were created or developed just in this past decade. Women seek and value mentors that can support and assist them in a non-intimidating, non-judgmental forum. Although men often view women's lunchtime or evening gatherings as a sewing circle gossip session, women frequently use friends and colleagues as sounding boards for new ideas, thoughts and perspectives. Brainstorming and round-table sessions are becoming more and more mainstream, even in the 'Old Boys Club' organisations because there is strength and power in teams and in seeking outside opinions and help. 

Planning. Most women become good planners by necessity. Often in addition to full-time employment or business owneship, women take on, or inherit by default, the monumental task of running the household, juggling kids activities, making and keeping family appointments, planning and organising family holidays, meals, etc. It takes a lot of planning and organisation to make sure everything runs smoothly from day to day and week to week. Investing demands a similar kind of planning and organisation to be efficient and get the most out of your capital. The ability to make and stick to short and long-term goals is important but having a system to monitor and track it all is priceless, especially when it comes to finance and investing. 

Multitasking. Women are also known to be exceptional multitaskers. Handling several issues or tasks at once is all in a day's work for most women. This translates well into the world of investing because there are always many different things going on in many different markets and across many different asset classes. Women who are able to see various market factors and how they can affect an investment will be much more able to predict possible outcomes and proactively make adjustments as needed. Diversification is also easily appreciated and accepted by women who are more likely to hedge their bets as opposed to going all in on black or red at the Roulette table.

Diligent Research. Women know how to do their homework. They are used to budgeting, comparing prices, finding the right pediatrician, school, camp, mechanic, gardener, insurance, etc. In finance and investing, this means that women know how to investigate and identify investments that will work best for them. Investing involves a LOT of research. 'Due Diligence' is an investment term that refers to the process of verifying data presented, investigating the investment parameters and terms so that the investor can make an educated decision to purchase or decline. As a real estate investor, I screen and analyse literally hundreds of properties before finally deciding to offer in on one or two. Diligently investigating the investment and the people involved is a crucial step in protecting your investment funds up front and finding a good fit for your specific purposes. 

Value Shopping. Warren Buffet once said, "Price is what you pay; value is what you get." Women seem to intrinsically know how to stretch a budget and shop for bargains. They are aware of what's available, what the going rates are and will go clear across town to get something at a discount. Women know that it makes sense to get a designer gown at half price if they are willing to find and sew on a couple of missing buttons. Investing for value or value-add opportunity follows the same principles as shopping for any kind of bargain. You need to have a good idea of the general market value so that you have a benchmark to evaluate the investment you are looking to purchase and know when it's priced below its true value, or when a few simple steps are all it takes to realise its potential (add value, like sewing on a button). Once you know what to look for, it gets easier to spot the gems. Finance and investing may seem like a spider's web of intricacy and detail but understanding the rules and knowing how to filter out the junk makes it a lot easier. Women have the skills and qualities to excel in the investment arena on their own terms. Women really do make great investors! 

"A woman is like a tea bag; you never know how strong she is until you put her in hot water." 

~ Eleanor Roosevelt ~ 

Source: https://EzineArticles.com/expert/Jacqueline_Ross/778975

Women Can Love Investing (Yes Really!)

Ladies- We can learn to love investing. Investing is a passion of mine. I find it empowering, freeing, and confidence building! You can learn to have your money work for you and make you money, so you're not dependent on working the rest of your life. It's awesome to see money being made with your computer and not from your labour! Once you learn to invest, it's like having your own golden goose. The golden goose provides more money for you over the years and works hard, so you don't have to. 

Did you know women are better investors than men? There have been studies of men's and women's investment clubs and women consistently made more money with their investing. The reasoning is that women think through their investment decisions longer before selecting them and hold their investments longer. 

Another reason women make good investors is because investing is like shopping. We're used to comparing prices, knowing brands, and watching for sales! Investing is the same way. You figure out what you want and you wait for a good price to buy it. Heck, you do that every week!

99% of women will have to manage their own money at some point in their lives (the average age of widowhood is 59). Do you want to learn about money when you're grieving and least able to deal with it or when you choose to? 

Making money is simply a function of 3 things: the money you have to start with, the time you have to compound, and the rate you earn. The more of any of those 3 things you have, the easier it is. If you don't have a lot of money to start with, but you have a lot of years before you need the money, or you can compound (earn) a high rate, you can build wealth. 

If you want to learn how to swim, you can't cling to the side of the pool. Eventually you have to let go and try to swim. When you get good at swimming, you can eventually go into the deep end. You don't try that on the first day! It's the same thing with investing. If you want to build wealth, you can't keep your money in a savings account. You must give yourself time to learn to invest and let your money create a golden goose for you! 

The reason it's important to take some measured risk with your money, is because it allows you to get a higher return. For example, if a savings account was paying 1% interest. At 1%, it will take 72 years to double your money. Not a great way to accumulate money to retire! But the stock market has returned 10% on average over the long-term, which will double your money in a little over 7 years! That will build wealth - the savings account won't - and you will be able to have a comfortable retirement. That's why you need to invest in stocks! 

I often hear women say they don't feel "worthy" of having a lot of money. I think a lot of this stems from the fact as women, we don't know our self- worth. Studies have shown that men know what they are worth in their job and women don't. At first, it was surprising for me to hear this, but then it made sense. Women are taught to be of service, to put our needs behind others, to be polite, to defer to others. If we translate that behavior to money, it means we don't feel worthy. We give the power away. We will have fears around it and "trust" others to handle it for us. We don't need to do that. Not anymore. 

I'm here to say women, you can do it! You can overcome your fear of loss or overwhelm. Investments don't require much time to manage once you've got the hang of it. I spend less than an hour a week handling my personal investments. However, most of my time is spent reading about investments and looking for new opportunities than tweaking the investments themselves. 

I started in my late twenties with $0, I read lot of books and attended several training courses about millionaires and investing. I also looked at where Billionaires invested, listened to podcasts and taught myself how to invest in stocks and became a millionaire at age 38. It begins with having a wealthy mindset and ends with creating your legacy. Only one step involves investing! Did you know that you don't even have to have a lot of money to start investing? You can open an investment account online for free. There's no excuse not to learn! 

If you have a mentor, it can help take the fear of overwhelm away. A mentor can show you how to navigate easily, just like a tour guide can in a foreign country. Over time, you will gain confidence and realise it's not as difficult as you first thought. Like anything with practice, it gets easier - and the rewards are much better! You can learn to build serious wealth which will make your life a lot easier, less stressful, and give you a better marriage and family life. 

What is a stock? A "stock" is simply a share of ownership in a company (think of companies like your favorite brands in handbags, shoes, food, etc.). Companies sell shares of stock in their company when they want to raise money. Suppose designer Stella Mcartney wanted to open boutiques around the world? She could sell shares in her company and raise the money to do that. 

The "stock market" is simply where lots of companies are selling shares. Initially they sell shares from their company to raise the money and from there investors buy and sell them to and from each other. It's kind of like eBay, except you're buying and selling shares of companies!

But isn't it risky? Isn't it like gambling? There is risk, but you can mitigate risk several ways - buy spreading it out among multiple companies you own, by buying companies that have a low fluctuation of price, by not owning just stocks and adding in other types of investments. Some people speculate, but most people are not trying to "get rich quick", they are investing for the long-term, which is the safest way to invest. The longer you stay invested, the more likely it is you will make money with your investments. If you stayed invested during the crash of 2008, the stock market is up 80% from the low point. 

The Dalai Lama has said, "The Western woman will save the world." I believe that's true. Women are cooperative, intuitive, and we like to share with others. I see a lot of women giving to the less fortunate, like helping women start businesses with "micro" loans. The average loan someone in a foreign country needs to start a life-changing business to feed their family is only $27! The women in villages teach others in the village how to run a business, so the effects are far reaching and magnified. 

Isn't it time you empowered yourself to learn about money and investing? Isn't it time you felt your own worth and independence? Learning to create wealth yourself will do that for you and investing is a way you can build a lot of wealth. You just have to decide to do it and find a mentor to reduce the learning time and improve your success rate. Soon you will have your own golden goose and love investing too! 

Article Source: https://EzineArticles.com/expert/Linda_P._Jones/303130 

Women and Money - The Girls Want to Get a Grip While Men Want to Get Ahead

There's nothing like a pandemic for highlighting where we've been going wrong with our money management. But do recent events mean that both men and women will become more financially prudent? 

I am fascinated by the subtle, yet important, differences in men's and women's financial views. Women are very keen to get a better a grip on their finances, while men are set on making as much money as they can, focusing on maximising income.

Here are the top financial views: Women's top 5 money outcomes: 

1. Take charge of my finances more (66%) 

2. Get better value for money (63%) 

3. Plan my financial future (62%) 

4. Be more responsible with money (59%) 

5. Plan how to make more money (56%) 

Men's top 5 money outcomes:

1. Plan how to make more money (73%) 

2. Plan my financial future (70%)

 3. Get better value for money (70%) 

4. Take charge of my finances more (56%) 

5. Cut back on my personal spending (52%) 

When we think about how good we are with money, it's often our past money blunders that spring to mind. The time we blew a windfall on a fancy car, instead of paying off some debt. The money we left for too long in a poor investment fund. The years we delayed starting a retirement fund. 

When the economic climate is reasonably healthy, our finances can withstand those kinds of knocks a little better. It's when times gets tough that we are hit with the folly of our past behaviour. And of course, money we waste without thinking during prosperous times becomes a drain during leaner periods. 

Not switching a mortgage to a lower interest rate, for example, could cost thousands of $$$$ over the mortgage term. Even that daily cappuccino and magazine adds up to hundreds a year. I have also found many people will have a direct debit going out of their bank account that they should cancel, an online subscription they'd forgotten about or a charity donation they thought was a one-off that's been taken every year.

When discussing past money mistakes, its clear that a women's big mistake was not being as upfront as men about asking for money. Whether it was pushing the boss for a pay rise or negotiating better self-employed rates, many women had less because of a fear of asking for money or undervaluing what they had to offer. 

In looking at the differences between men and women's spending behaviour, Women tend to engage in more emotional spending. For many women that usually means they hit the shops/spend online when feeling depressed, unhappy or stressed. Women are also more likely to name kids' treats as one of their money weaknesses. This is another example of how, when it comes to money, women aren't so good at putting themselves first. After all, women are socialised to take care of others and pushiness is not a quality that's encouraged in girls, but it's clear that later on in life this can leave us poorer. 

Women (and men's) most common past money mistakes: 

1. Emotional spending 70% (men 61%) 

2. Reckless spending 64% (men 39%) 

3. Reluctance to ask for money 62% (men 47%) 

4. Spending on kids/dependents 46% (men 30%)

 5. Fear of money 44% (men 48%) 

 Article Source: https://EzineArticles.com/expert/Karen_Pine/520953

Ladies - Our Money Matters

Sooner or later nearly all women, because of divorce or other lifestyle changes, come nose-to-nose with the financial area of our lives, this is a given. It's true - you do not want to learn how to handle money matters in a crisis; it's better to learn while you can be patient and reflective and embrace your financial well being.

But so many of us confront our cash concerns only at the worst moments in our lives-when we divorce, when our partners die, when we lose our jobs, or when we face a health crisis. When is a good time to start caring for our financial future? 

Today! It doesn't take a course in economics to see that the longer we wait, the worse off we may be. The facts aren't always easy to face, but they are potent persuaders. They show the need to create a sound base for our future financial life now, whether you're married, single, widowed, divorced, or partnered. All women, working and non-working, need to provide for the years when our earning power has diminished or ended altogether. We wil need cash-just as Sophie Tucker said: "From birth to age 18, a girl needs good parents. From 18 to 35, she needs good looks. From 35 to 55, she needs a good personality. And from 55 on, a girl needs cash."

We all know this to be true, or we should, because we live in a time of extended longevity. According to the Centres of Disease Control (CDC), a fifty-five-year-old woman today has about 26.2 years left to live. Thus, she can anticipate living to the age of eighty-one. A man's life expectancy is a few years shorter-seventy-five. And the truth is that with good health, we can live well into our nineties. 

Most women can expect to be on our own at some point in our lives. Many, of course, remain single. Others, by either choice or circumstance, become single. At least half of all first marriages end in divorce or separation, and so do more than half of all second marriages. Many women base their lifestyles on a two-income household, and women who work at home as mothers and homemakers choose to depend on their husbands or partners for financial support. Our longevity means that most of us will be living for a long time. So divorce and other life circumstances are likely to leave many of us women in charge of our financial lives, regardless of income, and whether we are ready or not. 

Many men are providers for their wives and children and carefully plan for the time when their spouses-whether working or nonworking-will be on their own. Others, however, are less responsible, through either ignorance, carelessness, or unwillingness to face the harsh realities of life. In too many cases, this means that these men are leaving their wives and children to slide into poverty after they die. 

If you've digested all this, then your stomach may be burning by now. Every single one of these contingencies is a serious challenge to us.

And these realities shed a very different light on the belief that many of us have- that saving and investing money is inconvenient and risky business. If you take these considerations very seriously, then you'll realise that spending your money as you earn it, without putting it to work, is the real risk you face, and it's a far greater risk than the chance that you'll lose money by having an agreement with yourself to regularly invest your money in a way that nurtures and benefits you. The real risk most women face is failing to invest actively. 

And part of this life process is being patient and trusting the reality that your money needs time to grow. This is a reality that it's not going to sprout overnight like a flower. It's going to grow based on consistent investment action, and not based on hot tips, inside information, advice from a psychic hot line, or by chance. Believe it or not, your money can grow for you and substantially ease financial worry.

I am encouraging you to realise your superpower as a woman and accept what might seem a revolutionary concept: You can, you will, and you must have control over your financial life. Taking financial control is part of our natural evolution and the last step in our liberation as women. The freedom we enjoy today came in stages: from education to the vote, to control of our health to increased employment opportunities, to more power in our relationships. 

Most of us have gone to work, and some of us have made a lot of money in these changing times; others have remained at home, working in alignment with a partner to raise families and run households. In either case, today's generation of women has greater freedom and opportunity than previous ones. But have we made this new freedom work for us? The truth is, regardless of age, occupation, marital status, or future promise, we must all go to the next level and actively develop our financial well-being - we must have 'financial legs'. 

It's not that we consider our financial lives unimportant. Nor do we purposely shirk responsibility. But centuries of cultural biases, misconceptions, and fears conspire us to hold us back. We are not supposed to be interested or involved in money matters some think; in reality, many of us are unprepared to tackle the issue and we put it out of our minds. Certainly, like so many passages in life, taking charge of our financial life is a path to new challenges. (Plenty of men are intimidated about money matters, too-even if they're too macho to admit it.) But investing is also one of the most enjoyable things you'll ever do because it leads to your financial security. 

Watching your money work for you is a singular treat, one that can give you pleasure as it raises the quality of your life. How can you envision financial opportunity? Begin by understanding and dumping the influences that keep you from this very important stage in the cycle of life. 

At stake is a secure future for yourself and your family. The bottom line-for you and me and everyone-is that you will probably have to manage a large sum of money-perhaps millions-by the time you stop working if you hope to live as well as, if not better than, you did during your working years. So if you don't begin the process of investing now, you can't be certain of a healthy-and happy-financial future. 

Anyone can successfully manage her money life. It doesn't matter whether you're young or old; married, partnered, or single; divorced or widowed; employed or unemployed; rich or poor. What is important is that you see yourself as a woman with cash and investments. 

Now is the time to nurture yourself to develop strong, sensible money strategies, whether you're just starting out or have already made some headway with investments. Handling your money, you will realise, it is a fascinating journey towards emotional and personal wholeness. 

Article Source: https://EzineArticles.com/expert/Joan_Perry/216137 © 2021 EzineArticles