Women & Money – The Reality of Bag Lady Fears

Women & Money - The Reality of Bag Lady Fears

Women’s concerns about retirement revolve around outliving their money. According to the Allianz Women, Money and Power study (2012), “Forty-nine percent of all women, and fifty-six percent of single women, fear ending up broke and homeless in retirement. This is what is known as the Bag Lady fear. The interesting thing is that bag lady […]

Advisors: 3 Ways to Attract New Clients for Long-Term Success

June 6, 2016

marketing and business tips for advisors

Here is an excellent article (written by Joe Anthony) for advisors who want to stay relevant in the current marketplace. I especially like that it points out the wisdom of learning to work with women investors.

My favorite key points:

  • Women control more than half of American personal wealth
  • 70 percent of women would prefer to work with a female advisor
  • The financial services industry is experiencing a talent shortage

This clearly represents an opportunity for the advisor who can read between the lines.

Consider how you relate to and communicate with women investors if you want to thrive in the current feminine economy. Because right now, the typical older white male advisor stereotype isn’t cutting it for the ladies (sorry guys!).

That means there’s less competition for the female advisor, but also for male advisors who can brand themselves effectively as someone who gets women’s money issues.

Enjoy the article!

How I Finally Transformed My Money Story

How I Finally Transformed My Money Story by Patti Fagan

This might surprise you, coming from a financial advisor, but there was a time in my life when I felt completely clueless about money. I didn’t understand how to manage it. I had no concept of how to save or invest it. Personal finances felt like a mystery and a lot of hard work. Quite […]

Success in business requires intense personal development

Being in business for yourself is an inevitable lesson of intense transformation and personal development.

If you are in sales or starting a new business (or even if you’ve been in business for a while), be willing to do the deep work on yourself that is necessary to achieve your dreams and goals.

Be open and available to work on yourself, because nothing changes until you do. The state of a business is merely a reflection of its leader.

Success doesn’t just happen. As you grow, your business and your income grows, too. Be relentless in your pursuit of developing yourself to be the excellent leader God called you to be.

Here’s why Women Business Owners are a great niche market for financial advisors

Here's why women business owner are a great niche market for financial advisors

If you are a financial advisor, specializing in a niche market will help you become a subject-matter expert who understands your ideal client’s unique needs. You become known as the trusted advisor of choice in your market. A lot of advisors make the mistake of thinking that targeting a niche market will limit their potential. […]

Women & Money – Guaranteed Retirement Income Starts with a Plan

Women & Money - Guaranteed Retirement Income Starts with a Plan

I heard on the news yesterday that two-thirds of Americans would find it difficult to come up with the money to cover an unexpected $1,000 expense. This truly makes me sad. We’ve all been there at one point or another. Lack of finances has got to be one of the most stressful challenges to live […]

How To Not Run Out of Money in Retirement

Chris Arnold for WBFO - NPR News
April 27, 2016

How to not run out of money in retirement

Contrary to what you may have heard about annuities, they’re not all bad.

In fact, David Swenson, Chief Investment Officer at Yale University, and the expert interviewed for this article, believes it would be a wise move to include an advanced life deferred annuity in your retirement portfolio.

I happen to agree.

Without knowing exactly which annuity he is referring to – there are a myriad of annuities being offered in the marketplace – I’m going to assume he’s talking about an annuity with a guaranteed lifetime income stream.

Basically, a guaranteed lifetime income annuity is a contract between you and the provider (usually a life insurance company and preferably an A+ rated life insurance company), that guarantees you a certain amount of income (received monthly, quarterly or annually) in exchange for a certain amount of money that you give to the company, in either a lump sum (single premium) or over a certain period of time (flexible premium).

Even after your account balance goes to zero (after the money you gave to the company runs out), the company is contractually obligated to continue payments for as long as you’re alive. You’re essentially creating your own pension, turning a finite amount of money into a lifetime income stream.

Annuities are a smart option for women, because statistically we will outlive our male counterparts, we’re living longer and we typically retire with less financial assets than men. Women need the insurance protection against outliving financial assets that annuities offer.

There are a plethora of benefits that can be added to the basic annuity contract, such as:

✓ Joint life payout, which continues payment to a second annuitant (usually a spouse) when the first annuitant dies

✓Long term care benefit rider

✓Inflation protection rider

One thing to know is that the more benefits you add to the contract, the more you reduce your overall payout. It’s all a matter of priorities, and what you’re trying to accomplish in your portfolio.

One of the biggest complaints about annuities is their complexity, which causes a lot of confusion in the marketplace, not just for consumers, but for some advisors as well. That’s why it’s important to do your due diligence and work with an advisor who understands annuities.

You can start by checking out this article. Enjoy!

Money Coaching Success Story

How Nicole took action, got clients and made more money

Money Coaching Success Story

One of the most rewarding aspects of being a financial coach is watching my client go from feeling clueless and overwhelmed to taking control and stepping into her money power. One thing I know for sure is that a financially empowered woman is unstoppable in her ability to take excellent care of herself. For women, […]