5 Ways Every Woman Can Take Control of Her Financial Future

Women in our society have a pervasive mindset problem around the way they approach financial planning. The most critical concerns revolve around health and longevity, gender roles within relationships, risk management, and estate planning. Each of these issues has a material impact on a woman’s long-term financial wellbeing and therefore deserves careful examination in building your financial strategy. Here are five key actions that will help you take control of your financial future.

1. Understand the longevity differential. The average American male life expectancy (meaning there’s a 50% chance of an individual reaching that age) is age 76, while the average American female’s life expectancy is 81, according to Statista, 2018. What happens if you are in the 50% that lives beyond the average lifespan? In trying to have a meaningful discussion about this, clients inevitably cite the ages that their parents and grandparents died as a reason that we don’t have to consider the issue. That’s a misguided assumption because while genetics are relevant, your relatives didn’t have access to the exponentially expanding medical breakthroughs and life-extending technologies that we do today. Think of all the people that are living with cancer now that likely would have died shortly after diagnosis only 10 or 20 years ago! Given the realities of medical…