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.

Kids, Parents and Money

The "sandwich generation" are coping with balancing their own needs with the needs and expectations of family. Current research shows that 44% of Americans between the ages of 45 and 55 have living parents or in-laws, as well as children under age 21. Many of these individuals are direct caregivers - with 64% of caregivers also employed full-time or part-time. 

Within the next decade, the population over age 65 will continue to grow, according to U.S. Census reports. Increasing life expectancies also means that more people are likely to have chronic health problems and family involvement in their care. Today, an estimated 7 to 10 million adult children are providing care and assistance for their parents long-distance. And, approximately 92% of boomers financially support an adult child in one or more ways. This sandwich situation calls for open inter-family conversations to help ensure that money is managed thoughtfully and effectively, as well as cooperatively. It also means staying aware of your own financial plan when it comes to the increasing costs of medical care for your parents and college for your children. 

Generous Boomers - Tenuous Retirement 

Exactly how to teach children about money is a dilemma for many parents, according to the Ameriprise Financial New Retirement MindscapeSM study: 52% of those surveyed said it was the advice they needed most. In fact, some baby boomers are concerned about how the support they give their grown children may impact their own golden years, according to Nathan Dungan, president and founder of Share Save Spend, an organization that helps people of all ages develop and maintain healthy financial habits. Although they have these concerns, only 29% of boomers think helping their adult children is slowing down their retirement savings - a key finding of the Ameriprise Financial Money Across GenerationsSM study. One reason they don't see the impact on their retirement savings may be that they are tapping into "day-to-day" spending money and not dipping into retirement accounts to fund their children's needs. But, could some of that money be used to save toward retirement savings? 

Money Talks 

Discussing finances can be complicated because each generation thinks about money and the need to talk about it with other family members in ways that have been shaped by their upbringing and societal norms. An 86-year-old patriarch, for example, probably has a much different view of debt than do boomers or their children. He may question why his 28-year-old grandson uses a credit card to buy new clothes even if he's already deeply in debt. Although talking about money may be a sensitive subject, good things happen when families discuss money. It's important to approach the conversation in an open, non judgmental way. While finances are a taboo subject for many reasons, "harmony can be realised through understanding and communication," Dungan says. In some cases, families may find it helpful to include a neutral third party, such as a financial advisor, to act as a facilitator. 

Key points about families and finances: 

1. Members of the sandwich generation cope with balancing their own needs with the needs of their parents and children. 

2. Generosity to family is only natural but you need to plan for it. 

3. Have conversations about money with family, because open dialogue about money benefits everyone. 

4. It may be helpful to include a neutral third party, to act as a facilitator. 

Take Ruth, for example, a 59-year-old widow who supports her two adult sons. Ruth's financial advisor told her, "Let's deal with this now, or you're going to be making some really tough choices in five or 10 years," Dungan recalls. "You need to tell your children you can't be their sole source of financial support. The best way to avoid these complicated situations is to do what  may seem uncomfortable: Talk honestly about money. According to Dungan, no matter how you do it, what really matters is that you start the conversation and keep it going. "The money thing, from my perspective, is as much, if not more, about communication as it is about money," he says. 

Boomerang Children 

According to Pew Research study in 2021 47% of 18-29 are still living with their parents whilst  usafacts.org states that 16.9% of young adults aged 25-34 live with at least one parent. While many people in this age group may still be in education and have not yet moved out, others have returned home believing they can't afford to live independently because of high housing costs and student debts. 

Tips to help you transition your grown up children into financial independence: 

1. Have an agreement that spells out the living arrangements and household responsibilities. 

2. Be clear about what financial responsibilities children will have when they move back home (e.g., paying rent or a portion of utility expenses). 

3. Require that children make specific progress toward paying down debt and adding to their savings. 

4. Agree on a departure date. 

Making a Better Sandwich 

Your financial advisor can help you determine what financial needs you will have based on your own goals and unique family situation. For instance, you could consider investing in a 529 plan for your children's or grandchildren's college expenses, or purchasing long-term care insurance for your parents. 

You may also need to think about other health-care expenses and estate planning issues with your parents. 

Your advisor can help guide you and your family through these issues and decisions while helping you keep your own retirement planning on the right track. 

Article Source: https://EzineArticles.com/expert/Joshua_Ely/256297

Money Disparity between Husband and Wife

When both partners work, share household duties and merge their salaries, you would think that these changes are for the better, for women. Unfortunately, not all of the changes are good as a large majority of women have received plenty of less desirable results. 

According to the Pew Research Center. Only 3.8% of women earned more than their partners back in 1960, but a 2020 TD Ameritrade survey found the number of female breadwinners had jumped to 21%. More than a quarter of women reported that they made as much as their male partners.

Studies also showed that when a women out-earns her husband, he is more likely to cheat. In fact, about 15% of the men in a study by the American Sociological Review.

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The sad fact is that when we earn more than our husbands, we experience more stress on the home front and all have claimed that making more money is hurting the marriage. 75% of us have said that we wished we weren't the breadwinner. The survey asked divorced women and 66% responded that making more money led to the divorce.  

Note, that Gender roles are changing in other ways as men are increasingly willing to pitch in around the home and many do dishes and cook the meals. However, when men are unwilling to participate in household and childcare duties even though they're earning less money than their wives, many marriages fail. 

In order to succeed in this situation, a couple needs to have a partnership in their marriage. Both spouses should have similar values regarding work and money management, and share household responsibilities equally. We need to converse prior to marriage with the expectation that the husband may not be the main breadwinner. 

In order to alleviate as much stress and tension as possible, couples should address their expectations for earning power. Historically, men associate their self-worth with how much money they earn, more than women do. If the wife is earning more, we deserve to have more say in how the money is managed. Many women need to negotiate this issue as it can be a taboo subject is some relationships. You need to align on how will the funds be handled differently? Will your household responsibilities change? If the wife is earning more money because she is spending more time at work, a couple seriously needs to discuss household and childcare responsibilities. In the end, what makes the most sense? It's not about women making all the decisions, but that couples are sharing the decision-making, now. 

A couple must agree that money doesn't equal power and their relationship is worth much more than either before they can adjust to the new model of marriage. By creating unambiguous marital roles and fully addressing all aspects of the family finances, especially how it is handled, you can survive the changing financial and employment landscape of today. In the end, it's about attitude, as opposed to the actual dollar amounts that cause the most conflict. If either spouse feels resentful or critical, it will eventually come to the forefront of any argument and ultimately destroy your marriage. 

How To Be A Great Partner With Your Finances

How To Be A Great Partner

Just being romantic has to mean a variety of things to each and every person, but as you and I both know, romance involves doing that little extra to express affection in a meaningful and sometimes unexpected way. Unfortunately, a lot cannot be done the way you want because of money and finances. We know that the true act of romance requires creativity and above all sincerity, which is often inspired by love. 

One of the better ways is to treat your partner like you are single... , remember when you were trying to earn their affection and trust. And we all know that the opposite of being romanced can and will backfire when it presented as some kind love sick game and gets taken for granted. No one wants to feel like they have already been trapped... because quicker than you can blink... it's over and done with.

In a marriage relationship, communication is the best policy. Having your finances in order can be a great help with that. It can at times be difficult, but the simple truth allows relationships to breathe. No matter what happens, no one can ever challenge the fact that you are truthful, which in itself means that the other person will invariably end up giving you the same respect. When communicating with your partner, believe me, they will be the first to let you know if something does not suit them and if it does not feel right or good... they will not trust you or your opinion in love, marriage, romance or money. 

While you are dreaming up ways to win their affections... make sure not to talk their ear off,... but do make sure that if you have any problems that could possibly affect their mood, they are made aware of the reasons for those concerns. Make them the center of everything around you when you're talking to them. If you ask your partner a question, ask because you really want to know the answer. And above all, please... pay attention to that answer. You would be surprised how far that little gesture will carry you up the mountain of love, affection and understanding. 

In discussing opinions, try to see their side and understand the reason why they feel or thinks the way they do. Make sure you are really actually listening, not just waiting for your for turn to insert some interesting little quip that makes you look good. Great partners honour their commitments, accept their duties, portray their loyalties and are accountable for any and all damages, debts and other problematic happenings they make along the way in the relationship. 

Be the bigger person and clean up after yourself and your finances (figuratively and literally). In sharing responsibility, both men and women know that anyone can father a child or give birth... but only a person who understands and accepts that responsibility can be a good parent. How to be a great partner means that you refuse to make anyone do anything that you yourself are unwilling to do. 

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. 

Financial Independence for Women

For security reasons Ladies, it is important for us to have the knowledge about how to make financial decisions. 

Facts that many of us choose to be single, and the divorce rates are getting higher should underline the more important reasons why we need to equip ourselves with complete financial knowledge to survive in our life. 

We must know that: 

We cannot live from month to month. It is important to save some part of our income, whether from our partners or from our own salary. 

We must have our own personal account instead of a join account with our spouse. It will increase our self confidence as well. Having a personal account will be useful when something happens to our spouse, as our personal account will give us more flexibility and authority than our joint account. 

We must have our own investment and retirement account. This will help protect our finances when the breadwinner of the family turns his heart against the family. 

We must have our own credit card. The best time to have a credit card is when you need it the least, when you can pay on time. A credit card will be very useful under urgent circumstances, when you do not have enough cash on hand. Although we may think that you may not need a credit card, it is recommended to have one for urgency. 

We must get involved in monthly family finances. Almost all of us have something to eliminate, by working together with our partner, as a collective, we could save more than before. 

Having enough money in our savings will give us the courage to leave an unpleasant job or a horrible marriage. 

What should always be remembered is being able to manage a family and personal financial does not mean that you can forget your destiny as a woman. 

To build a happy and harmonious family, women and men are equal, we should not compete against each other. 

Women and Real Estate

If you don't already own a home, there are so many reasons to from a financial perspective: 

• build equity
• save money on taxes and use your equity as back-up security 

Equity is the ability to increase the difference between your home value and the amount you owe on your mortgage.

Moreso, as a woman there is an even important reason, it is a tremendous source of security for your future. 

Many women that own real estate have seen success in other parts of their financial lives as well! 

This could include renting out spare rooms for additional income.

If you already own a home, you should think about paying down your mortgage a bit more each month or year. 

If you are married, this will only increase the value of your assets towards your retirement. 

In fact, it is an opportunity to become more active within the financial realm of your life. 

By becoming interested in the insights of the financial details of how it works (i.e. through paying off your mortgage earlier, refinancing when rates lower or appraising the home when values rise), it can lead to taking more of an interest in other areas of your family's personal finance. 

For women that end up alone, either through divorce or widowed, owning a home can provide tremendous financial security. 

It provides options that provide security later on in life such as: tapping into the value of the home, getting extra income or taking advantage of the increased value. 

Since real estate prices have gone up so much these last few years, partially due to low interest rates, you might be thinking that you can't afford to get into the real estate market where you live. 

You can look in other areas. 

For example, central CBD locations have become prohibitively expensive. 

Therefore, many people are buying homes in the outer suburbs and have already seen property values rise. 

Or you might be thinking that you don't have enough saved for a down payment. 

Many people don't believe in mortgage insurance, the reality is that this may be worthwhile to enable you to purchase a home. It is likely you will see this money returned as the value of your home may have gone up so the insurance is money well spent.

If you don't do anything about it, you still won't have enough saved for a down payment. 

The alternative options is that you could buy a small 1 bedroom apartment and rent it out. It doesn't always have to be the home you need to live in.

My first investment property was a 1 bedroom apartment in a boutique development in Melbourne's CBD in Australia. I have since purchased further investment properties and have not lived in any of them.

I am a "rentvestor" which means that I rent myself and buy houses to rent out to others.

If owning a property is aligned to your goals, the key is to just get started!

Women and Money: The Reality Today

• 55% of  women over 65 will find themselves in poverty when they retire
• 40% of unmarried women have saved less than $1,000
• 37% of women spend retirement alone 

Startling statistics ladies. 

Most women will look at these statistics and think, that's not going to be me! 

Then go right ahead and plan the next girlfriends lunch or dinner date without looking at the bank account or the credit card balance. There is very little thought of how to ensure you do not find yourself included in the above statistics. So random incessant spending will continue without thought of the consequences, down the road, looking through the long lens. These statistical groupings are placing women in poverty every day, and few know what to do about it. 

What can be done? 

Any number of actions can change these statistics and the quality of life for all women. Ask any woman and I'll bet none of them would choose any of these girlfriend groups! Talking to girlfriends is one of the first (best) things that can be done to change the destiny of their girlfriends and which statistical group they may find themselves in. Girlfriends are a powerful group. Women will share with girlfriends they have now and the ones they have not yet been fortunate enough to meet yet. 

Women are smart and sassy. They also bond together when one of their sisters is in trouble. By opening this dialogue you may find that those closest to you, may not know the facts you now know. They may not know what to do about it either. Women share information freely and impress upon their friends what no man can. Women are naturally caregivers. This sharing with each other is at the heart of women care giving.

Planning will cause you to place yourself in situations where you won't be a statistic, part of a scary stat. How, you ask? Join our community at Femvestorsglobal for free daily information, alternatively you can join our book clubs (we offer 4 different geographical time zones- so there are no excuses ladies!). We also run virtual events or private 1:1 courses. You learn more, not just about finances. 

The very person you need for the best possible information will be sent to you. As long as learning takes place and actions are taken to change the numbers, both in the financial arena and then the stats, women don't have to find themselves in poverty. 

Invest in the knowledge and wisdom of wealth. We have heard that knowledge is power. For women, learning new vocabulary, words like monetising will bring you power and wealth. Learn now how to eliminate debt forever. Your today purchase can change the purchasing power you have in the future. Wouldn't it be awesome to know how? What do you have to do to acquire enough wealth for your future? Figure out how to share your prosperity and set some aside for those you love. It will come back to you multiplied more than you know. 

Girlfriend road trips are the best!! Memories forever! This is one road trip all the girlfriends cannot miss. This incredible ride could save them more than just the cost of gas. Investing in yourself will prove to bring increase to every aspect of your life. Finding wisdom about money can keep all women from becoming a scary statistic. Within the wealth side of these statistics lies comfort, ease, pampering and peace, which is why we do not record our group events so you have a safe space to talk. 

You will be so glad you did, sooner rather than later. 

Article Source for statistics: wiserwomen.org. 2016 retirement confidence survey, EPI.org 

Financial Success for Women

Truth Bomb Ladies- what we earn is mostly what we spend! 

Many of us spend our money without a budget and then complain when our finances begin to dwindle. The habits that we have created within ourselves with regards to how we spend our money can break or make us. The issue we have created is that we have the problem of spending within our means. Many find ourselves in a tight corner just because we couldn't say no to that flashy car or the expensive handbag we know we should not even be looking at, never mind talk of buying. 

Just like many bury ourselves deep into debt just to satisfy that yearn that has nothing to add to our personal finance or to our life for that matter. Many calculate what they spend at the end of each month and wonder where our money had gone and even what we had done with that thing we should not have bought but bought anyway and is not lying unused in a box in our room. 

Casual spending is not a friend to anyone and it can easily put you into trouble. It is something that can land you in bankruptcy left with nothing but the useless purchase of a life time that has no value to add to our life. There are a few things we need to check when determining our spending habit. 

These are: We need to see the wrong in what we are doing. We need not hide behind ignorance of our actions. We should know that it is not going to help us if we do not find solution to it. If you are in debt already, we need to pay it all off and then develop another healthier way of dealing with your finances. 

We need to know how much we spend at any particular time. Be conscious of the amount of money that is being paid for any thing you are buying so as to help you determine if that amount is worth it or if that thing is worth having. You need to map out ways to evaluate what you are spending each month and why you are over spending if you are. Know what you need and calculate what you can get when you turn away from that thing that you want but do not really need. 

Re-evaluate your lifestyle now. Invent new ways of handling your finances. This is something that will give you a new meaning into why and how you are spending what you are not supposed to. Get a new lifestyle that is healthier for your pocket. Design some kind of specification on the spending decision you make. Be careful with how you dish out your credit card and what you use it to buy. It is super easy to over spend when you know you can get it on credit. 

We as women have problems with how we spend out money, now is the time to learn to put a spending plan together, this can help in our day to day purchases so that we can see the error of what we do as clear as possible and this will be the first step towards a better habit.

We can support you with creating a spending plan and other financial success habits so you too can become financially fabulous. 

Check out www.femvestorsglobal.com for more information

Relationships and Our Finances - Why New Couples Fight and Solutions to Solve

It is common for new couples to fight over money. In fact, research has proved that one of the most common sources of misunderstanding among couples stems from financial problems. There is no such thing as easy money. Individuals work hard to earn enough for their daily expenses, to pay out bills and to survive day to day living. Before tying the knot or moving in with your partner, it is important that couples understand some of the reasons why partners may come to fight over finance and more importantly why budgeting needs to become an essential part of the relationship. 

Spending too much. In every couple, one will always spend more than the other. Stereotypically it's the women. However, there are also men who love to splurge on cars, tools, sports and so on. The difference is, one wants to spend this much and the other doesn't. Now of course neither want to compromise their wants or needs. This can quickly cause an argument. So before settling down, couples should be ready to make major adjustments with their spending. Both need to realise that in marriage compromise is a must, especially when there are more important bills to pay like the mortgage, car, and possibly even baby preparations. 

Credit Card Bills. Credit card bills can sometimes seem like the end of the world in a relationship. Avoid them all together and use cash instead. Fights are generally a given when a credit card bill arrives. That whopping figure - the night when the husband took his friends out for rounds of drinks, the new kitchen appliances she bought, the new suit, a collector's toy, etc. They all add up and it can be very hard to work out who purchased what and when at the end of every month. New couples tend to think that just because they are married, the better half will tolerate the shopping splurges and shouted rounds of drinks at the bar. But this is not the case and more often than not, they end up fighting. So avoid the fight all together and pay in cash instead that way you will avoid the monthly credit card bill you both dread. 

The other option is to have your own credit cards and agree collectively how to align on spending and making payments, outside of a joint card for household bills and expenses.

Envy. Money and Envy tend to go hand in hand and when your married this situation can be even more intense. Some couples get jealous when they find out that their neighbour has just bought a new luxury car. They feel that they need to have one or else, their marriage won't be as good as the neighbours. So they order one out of impulse. The results are destructive. Shopping for luxury items on an impulse can result to financial turmoil. This ruins a couple's chance to enjoy a wonderful future. They end up paying for something that they do not really need. Throwing away money they could have used the to save up for their kids' education or a magnificent holiday getaway to rekindle the love. 

Conjugal debt. Some couples fail to discuss individual debts before settling down. These could be student loans, car loans, etc. When the issues arise, whether it be early or later in the relationship expect a major argument among couples. This stems solely from a lack of communication. So it is essential that couples, even before they are married, learn that open communication amongst each other is the sole key to a happy long lasting relationship. 

It is very important for couples to discuss their individual financial statuses before they get into living together/married. People work hard for their money, and with every couple one will always work harder than the other, the same way that one will always be a bigger spender than the other. But there's no such thing as easy money or an easy marriage/relationship. So to avoid heated discussions and arguments over finances, couples are advised to lay their cards on the table before tying the knot. Going into a joint spousal relationship unaware of circumstances, confused or scared to communicate is a recipe for disaster. 

Financial Success Habits and Our Old Beliefs

Are you struggling with your money goals and your finance goals? I think a lot of people are these days, especially with the current economic climate right? Why do we all struggle with these goals to achieve in life? Why do we grapple with issues around accomplishing a goal in terms of our finances? In my experience, this is all deep in our subconscious and goes back to our childhood and throughout our teen and adult life. 

In the past couple of years, I have been blessed to see some of the most successful business men and women in the world. I have sat for hours as they speak about how they struggled to overcome their own struggles with their money goals and finance goals. I have listened to speakers who slept on the streets, slept in train stations etc... to conquer their money goals and finally learn how to set life goals! I have seen the pain in their eyes and the emotional attachment that this period still has with them. 

Why do people go through periods of struggle with their money and finance goals? Well, when you think about it, as kids we are very much subjected to a lot of "myths" about money and how it is viewed by society. Have you ever heard some of these common myths before... 

• Money is the root of all evil 
• Getting rich is a matter of luck or fate 
• Having a lot of money will make me less spiritual or pure 
• Money will change me 
• Money won't make me happy 
• I'm too young to be rich
• I'm too old to start making money
• I don't deserve or not worthy of money 
• I'm already quite comfortable
• I don't need to push myself 

I bet these sayings are familiar to the majority of you? We struggle with our money goals and finance goals because we have been so conditioned by phrases like "I'm not made of money" or "Money doesn't grow on trees", that it is inherent in our subconscious. It is almost like a disease and we don't even realize it! I have been very lucky to attend various seminars on this subject that have really brought this to my conscious mind. When something is conscious, we can train the brain so that success in our money goals and finance goals becomes habitual. 

After attending seminars, reading books and being more aware of these myths and negative stories we have all heard about, I began to realise that this severely impacts our goals to achieve in life, in such a negative way. I then started to see things differently and made an observation that many people I have spoken to lately, have agreed with. What we watch on TV has a big impact on our money goals and finance goals! 

I grew up in the "Disney" era, where my beliefs on money stemmed from my childhood and romantic movies and books. I would live happily ever after, Prince Charming would always look after me. My childhood toys were Barbie having a fabulous life with Ken. Outside of Barbie dolls, I had toys such as a pram to push my kids in, a toy cooker, plastic tea set and a toy convertible car and caravan that Ken bought me. I had make-up, shoes and princess dress-up outfits, a plastic girl's head for practicing hairstyles.

Growing older, I continue to buy these "so called toys" into my adult life- clothes, shoes, handbags, expensive cars, designer make-up, frequent holidays and high self maintenance activities. I spiralled into a lot of debt.

Fast forward paying off the credit cards, loans and eventually getting myself out of debt, I started to then seriously focus on my financial habits and following others. Once you start to model and try to replicate successful people, you see things with new eyes. I often speak so highly of the seminars and the business speakers that I have been privileged to see live. After spending three full days at an event on "money goals" 3 years ago, someone once remarked that I was in a "cult". It made me think, perhaps I have been in a "cult" with my money goals and finance goals before I began to see the light that the successful gurus have shown me. 

So I guess its time to debunk some of the myths above and leave you with some new belief systems to mull over: 

1) Making money doesn't restrict freedom, it PROMOTES freedom 

2) To master money, I must MANAGE money 

3) Wealthy and successful people aren't smarter than me, they just have better money management Financial HABITS 

Some people think that the concept of changing your mindset is all "mumbo jumbo". 

I beg to differ. I think that if we begin to look at things with new eyes, that we can really start to focus on our money goals and finance goals. In fact, you can focus on new ways to achieve your goals in life! So what are your new money associations? 

Fill in the blank: Money is__________ 

Only 20% of people set goals. 

The other 80% think they have goals... but these are only wishes! 

Are you open to some different perspectives on how to set and achieve goals?

If so, check out Femvestorsglobal.com

We support you with goal setting, getting clarity on a vision for your life and turning your dreams into reality. We give you the GPS to your "Moneymoon Destination".

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!

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

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. 

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. 

4 Financial Accounts Every Woman Should Have

Life can be easier when you have the financial bases covered. See if you've got the right types of accounts to help you with cash needs, emergencies, and your long-term retirement. 

1. First, do you have a bank account and ATM card with your name on it? 

It doesn't matter if you share the account with a spouse or significant other. Just make sure your name is on the account, and that you have the ability to pay bills and withdraw money. Most of us take this checking privilege for granted, but it's the most basic money account we all need. 

2. Second, do you have an emergency fund? 

I like to call it comfort-cash. This should equal whatever you might need to get through unexpected hardships that crop up, from job losses to car breakdowns. 

When you're prepared with at least 4-6 months of living expenses, you're less likely to borrow from high-interest credit cards, or sell your retirement investments with penalties or losses. 

Where should you keep a comfort-cash fund? Put it in a high interest savings account. Yes I know, it doesn't pay much, but the key here is liquidity. You need to be able to get to those funds quickly when you need them. 

3. Third, do you have a major credit card in your name only? 

It's OK to share one credit card account with a spouse, but every woman should also have a different account with just her name on it. 

You want to make sure you're building your own financial identity, and that you are the only influence on that account. In case of a later divorce or loss of partner, you've got your own credit history and credit score established. 

If you don't qualify for a credit card with good terms yet, look into getting a secured credit card, backed by a savings account you set up when you apply. You prove you're responsible with paying off card debt, before moving to a standard, unsecured credit card. 

4. Fourth, do you have a retirement savings account in your name? 

This might be an employer plan at your workplace, or an Individual Retirement Account. Retirement accounts provide tax-deferred or tax-free savings, which grow faster without current taxation. 

If you don't have an employer retirement plan, but you do have earned income, open your own retirement account. If you're not working, agree your spouse contributes to your retirement future. These help build retirement accounts for a spouse who has low earnings, or is helping raise the kids at home. 

Don't make the mistake of assuming governments will cover all your needs. It wasn't meant to, and it won't. And while taxable savings are good, tax-advantaged retirement accounts are even better. 

How did you do? 

Don't worry if you lack one or two of these categories. But make a priority of establishing what you still need. You'll be setting up your own safety net, helping insure access to cash, and building financial security by owning these four accounts.

 

Article Source: https://EzineArticles.com/expert/Robin_Applegarth/729871

Women and Money - Another Complicated Relationship

Yet another relationship we complicate with our emotions. 

According to statistics: 

• We women earn 20% less than our male counterparts 
• We earn 80 cents on the dollar compared with men
• We have less women sitting in corner offices
• We are not getting our fair share of the world's wealth

It is abundantly clear after research that many of the characteristics and behaviors of women that make us unique also contribute to our lack of financial independence. 

Our greatest gifts we offer to society actually become our greatest weaknesses when our own best interest come in to play. Just like with anything a belief system is a standard that sets the stage for our behaviors. 

How we earn money and manage it is no different. We are taught differently with societal messages that imply our well-being is contingent upon acting polite and other stereo-typical ways when we are young girls. 

Being relationship oriented and soft-spoken are just a couple of behaviors that we are taught and then struggle with when we later apply them to the management of income earned or inherited wealth.

 The expectations of: 

• being a mum 
• wife 
• caretaker of elderly parents 
• AND independent 

are a juggling act that conflicts with the logic of the risk-reward mentality that it often takes to manage money successfully. 

As Independent Ambitious Career Woman meets head on with Nurturing Caretaker Mother and Wife we truly are BLESSED with the impossible sounding feat, if we take on the right attitude and use it to our advantage. 

We are asked to sharpen our skills in so many areas that we cannot help but succeed if we learn how to apply all of these acquired skills in the area of money-management and income negotiation in the workplace. 

There appears to be a paradigm shift that needs to take place in many of our female minds. That shift may require taking on a new mantra that empowers you to realise you have been given a job that seems daunting but in actuality have been given the opportunity to have it all. 

The ability to give life and nurture it can be applied to making money and growing it. So, being a Sep-mother with an independent minded attitude I have had to change my mantra to fit my vision of a successful retirement. 

I believe that how you think determines how you act. Our actions stem from our belief system. Our belief systems were most likely formed at a very young age. We have to understand that we can change our belief systems by attaining correct knowledge and watching our actions. 

Some of the actions we can take as women are: 

1. Keep track of how you are using and losing your money

2. Create a spending plan

3. Always put minimum of 10% away in an investment or savings...

4. Consider learn from other women. Check out Femvestorsglobal.com. 

5. Take advantage of compounding interest rate calculator! Check out http://www.investor.gov

6. There are so many ways to start learning and never an easier time to acquire knowledge. What better way to use Google! 

How to Demonstrate Smart Financial Habits to Your Kids

Your kids will follow your example in many things that they do so it is important that you practice what you preach. How to demonstrate smart financial habits to your kids starts with this important understanding. Use the trust that is instinctively there between you and your kids and teach them the right way. 

Kids need to learn that money doesn't just fall from a tree, it is hard-earned and must be used wisely. Start by giving them an allowance based on their age and understanding. Make it a regular ritual and request for books to be read in exchange. Note the point I wrote about reading books and not chores. 

Chores are a part of life and NOT a paid task. If you pay your kids for chores, you are teaching your kids to be employees where they exchange time for money. If you pay your kids to read books, you enable them to expand their thinking and create an Entrepreneur mindset.

When it comes to payment for reading books, choose a day each fortnight or each month and hand over their 'pay packet' pocket money in an envelope addressed with your child's name. Show respect for the money. Ask them how their last allowance was spent so that you can get a handle on their spending habits. Get them to keep a little notebook as their 'spending account ledger'. 

Congratulate them if they are saving their money. Encourage this habit and you might even reward their habit of saving by giving them a small bonus to add to their account. Ask if they are saving for something special. If they are close to their goal and it is near a birthday you could make up the difference as part of their birthday gift. You'll know it's something special to them so it will be appreciated.

If your child does want something extra special expect, given them a book of your choice which will help them grow, a jigsaw puzzle, quiz.  Let them learn that money must be an exchange for an education and is not just available for any desire. They will learn to appreciate the things that they buy with their own money. 

Don't pamper to every whim of your child. Limit the gifts you give them and let them enjoy the gift given before allowing them to begin playing with another. Having too many at once will make them jump from one thing to another. Explain why they are not getting everything that they ask for. If they really want something that you have said no to explain why and that they must save for it themselves.

The key here is to limit the amount your child has to spend on Consumerism. Look at not only putting the money into a savings account but also teach them how to invest their savings in Index funds and stocks. I bought shares in Disney and presented this as a share certificate in a frame with their favorite character so they know they are a part owner of The Disney company as opposed to a toy they do not need.

It may not always seem like it but kids will listen to their parents so don't give in to their demands to keep up with their peers. Be firm...kids appreciate and respond to positive parenting. They need to know their boundaries. Explain why you do things but don't spoil everything by demonstrating the opposite to your kids. Instill smart financial habits in your kids and demonstrate smart habits yourself...don't blow it!

Learning Good Financial Habits Today

You understand that to build wealth you need to make goals, a budget and create good financial habits. Right? Okay, you do, but now what habits are good? Which financial habits will help you save more, spend less and get you to retirement in dignity? 

Here is a short list to get you started on making good habits to help you get to your goals. Master these first since they are the most important, then move on to some that may be a little harder or less obvious.

1. Keep a "Spending Tracker" and balance it every week. If you don't use a tracker  then how will you know how much money you have. 

It's so easy to spend more money when you don't know how much there is. So start record keeping now and balance it every week, so you always know exactly how much you have. 

There are plenty of online apps (apps are geography dependent so please check which are applicable for you) or your bank may also provide this service.

2. Spend cash. It is proven that when you spend cash, you spend less. I know for me when I put down $100 for groceries I can almost feel part of me leaving with that $100, whereas with a debit or credit card, and or payment facilitated by your mobile phone, it's easy to swipe and move on. Plus when you have cash you can physically see what you have left, rather then look at some number written down. I say just keep the credit card at home, and only pull it out for emergencies, where you may not have enough cash out of the bank account or when you travel.

Delete any mobile phone payments apps you may have, this will also prevent you from buying on impulse.

3. Use a diary and write down everything you spend each day. No matter what it is coffee, newspaper, a vending machine, if you spend it write it down. Then at the end of the day total it up. It's amazing how much that end number can be. Before I changed that number would sometimes be $30 or more. Seeing how much I was spending greatly changed what I bought throughout the day and now I save easily 400-500/month because of that. 

4. The most important thing you can do to build wealth is to start saving and do it now. Every payday, deposit a portion of it to savings. Better yet if you have direct deposit and can put it in different accounts have it go directly to savings so it's like you never even had it to begin with. 

These habits can seem hard at first and may take time to perfect. However, if you work hard and consistently build and develop these habits you will be glad you did come time to retire. These habits will even help you short term, like when the the car requires new tyres, your son's public education is going to cost $900 or even when the dishwasher breaks down. 

Article Source: https://EzineArticles.com/expert/Kayle_Rowe/573649