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5 Reasons Why Women Need to Invest in Future Now

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Contributed by: Jennifer Curtis on 12/17/2007

The financial future of women is changing. Many women today are successful in life, no longer dependent on a husband or partner for financial security.

Investing wisely to ensure financial well-being is vital in times of fiscal uncertainty. Kipp Brant Drummond & Associates, a financial planning firm in Ventura CA, urges women to examine their financial viability for the future.

"Financial planning is so important today, especially for women," says Stephen J. Kipp, CEO and president of Kipp Brant Drummond & Associates. "It's a valuable service that we provide to those who may not even realize they need it."

"One does not enter into a marriage expecting a divorce or begin a new job expecting to be laid off. But life happens, and potentially harmful situations arise to make a dent, if not devastate, personal finances with more and more frequency," Kipp says. "Women need to make sure they can survive on the finances they have, but plan for the future in a financial sense to avoid becoming another statistic. The power is in their hands."

Although there are a variety of reasons men and women invest in their financial futures, statistics point out important reasons why women need to take charge of this often overlooked responsibility:

• 47% of women over the age of 50 are single
• Women's retirement income will be lessened because on average a woman is away from the work force 14.7 years as compared to 1.6 years for men simply because women are typically the primary caretaker of the home.
• The No. 1 argument between couples involves the issue of money. 50% of marriages end in divorce, and in most cases women raise the children in their home. When married, there were two people supporting a family, income is reduced by half on the woman's side and she still must provide and care for children half or more of the time.
• In the first year after a divorce, a woman's standard of living drops 73%.
• 80% of widows now living in poverty were not poor prior to the death of their husband.
• Approximately 7 out of 10 women will, at some time, live in poverty.
• 90% of all women have sole responsibility for their finances within their lifetime, yet 79% of all women have not planned for this.

There is no better time than now to make an appointment with a financial counselor who will educate and enlighten investors on the benefits and rewards of planning for the future. Kipp Brant Drummond & Associates urges women to start planning now, even if they have to start small.

5 REASONS WOMEN SHOULD INVEST NOW
1. Although a person may be in a committed relationship or marriage, plan ahead with your own financial forecast in the event a life changing event occurs. Begin depending on yourself for financial freedom instead of your spouse, place of employment, or other source of income.

2. No job is ever secure. Many people are employed "at will," and can lose a position without warning. Be prepared and have at least two months salary in your savings or trust in the event your income level changes. For single women and those raising children, this is a special challenge, but it is even more important for this segment to save as much as possible since many may count on child support to help raise children. If this income were to suddenly stop could you survive? Take these factors into account when planning.

3. Be smart with your money. Cut corners where you can and teach the value of a dollar to your children. Educate yourself by meeting with an experienced financial planner who will walk you through the many options to fit your lifestyle and set a plan in motion for you to follow. In the long run, you will gain freedom from financial burdens.

4. Work with a financial planner who will invest your money wisely and help you earn a return on investments. Women today earn about 74 cents for every $1 earned by men. In the world of investing, there is no limit to the amount of return on your investments. Make your money work for you.

5. Make the decision to control your finances rather than allowing your finances to control you. Planning for your financial future and investing rewards you with greater self confidence, better relationships, less worry, more happiness, and ultimately financial freedom.

"We strive to educate our clients and take pride in the fact that our clients remain informed and comfortable with their financial advisor," Kipp says. "Clients need to feel they are in control of their own portfolio and remain an active and informed participant. As strategic coaches, we assist each person differently according to individual life circumstances."

Offices are located at 950 County Square Drive, Suite 211, in Ventura. For more information, call 805-650-7654.

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Jennifer Curtis

Oxnard , CA

Jennifer Curtis has posted 30 stories and 0 comments since joining on 2/16/2007. Jennifer Curtis 's average story rating is 3.64.

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