We understand: you're busy with a career and family and you need to delegate / divide chores at home. Handing over the finances to your spouse is one of the worst things you can do. Women need workable investment plans; they need to take appropriate measures to insure a financial well-being.
Becoming a successful, lifelong investor is exactly the financial plan you need.
51% of women live as singles; those of us who are married outlive our spouses by 10 years, and half of our marriages end in divorce. Not only that, on average, women earn less over a lifetime because we take breaks for child rearing and we still may be paid less in certain professions.
Given the sheer odds that at some point in your life you’ll need to take control of all things financial - be proactive. Get in control of your money now. It saves time, money and emotional stress later.
Can money make you happy?
There’s a strong connection between being in control of money and happiness. Those who conduct countless hours of research on this topic have found a similar answer. Turns out that having money makes you feel you have more control over your life. More control over your life = great levels of happiness.
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Louise Googins - Financial Planner; Wealth Builder, Madison - Middleton Wisconsin |
“I’ve been working in the financial investment business for decades, and this description of ‘happiness’ makes perfect sense to me,” said Louise Googins.
It makes sense to others as well: when you have a steady income, reliable healthcare, access to clean water and food, dependable education and housing, then you feel comfortable.
Women who have money in the bank, a retirement plan and a money-generating investment strategy, feel more in control of their life; ergo, they’re happier than women who rely on men for financial security.
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The great news is that taking control of your money is doable when you follow the advice and leadership of self-made women:
1. Take the ‘long view’ when it comes to wealth creation – there’s no "get rich quick" solution to building more control over your life. Make a plan, stick to it.
2. Get disciplined and make a budget. Write down on paper what you want out of life now, in 10 years, in 20. By identifying your genuine priorities, you can change your behavior - especially with sound advice from women who have done it for themselves (start talking to self-made women; they like talking about money).
3. Spend less than you earn. Don’t buy the product, own a piece of the company by buying the stock. Wealthy women save and invest 30% - 50% of their income. This habit is NOT a result of being rich – it’s HOW they got rich.
Unlike our mother's and grandmother's generation, we can and should take control of our finances. Being in control of money makes us feel more comfortable; more comfort = higher happiness. |
4. Don’t put all of your eggs in one basket – partner up with an investment advisor who will help diversify your investments.
5. Eliminate credit card debt: high interest rates sap your wealth building ability. If you have serious debt problems consult with a financial manager to see if it’s a good idea to consolidate your debt into a single loan. Women who have built their own wealth did so, in part, by paying off credit card balances EVERY month. Building wealth requires planning, patience, and commitment.
6. Know what you’re worth – is your salary commensurate with your type of job and skill level? If not, ask for a raise or promotion. Let your bosses know how you see yourself and prove it by the quality of your work.
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Googins & Anton Inc. helps clients to build wealth; they’ve been doing this for decades. Being the recipient of new and unexpected wealth like inheriting money or winning the lottery poses certain issues that covers asset management, tax strategy, estate planning, gifts, and philanthropy. Googins and Anton will help you to determine your individual goals, navigate important laws, and describe different investment scenarios.
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A man is the ONLY financial plan you need
