Women and Investing

Nearly 90% of women have responsibility for their household’s financial well-being,(1) yet less than 40% of them have a financial plan in place(2).  Wouldn’t it be great to know that everything you worked so hard for, is safely tucked away, growing at a much better rate than your basic savings account?  Staying informed, understanding risk, and taking advantage of any information available can help guide you on the path to financial security.  

A financial adviser can assist you with a better understanding of your options based on your goals for the future – both short term, and long term - whether that be purchasing a home, saving for a vacation or saving for your children’s education.  Knowing possible sources of income can help you make an informed decision, and take control of your future.

It is a known fact that women live longer than men(3), meaning they will typically need more savings to live a similar life style to a man in retirement.  However, most women will make less over the course of their lifetime.  Knowing the options available now, and in retirement can help achieve financial independence. Having a plan in place now, will help ease the financial stress later on.

If you haven’t already, you can do things like automatically transferring investments into tax free accounts, or RRSPs.  Setting up automatic transfers and payments can help keep you on track – the money is already tucked away before you have time to spend it in your head.  Consider non-traditional wealth building strategies like cash flowing investment properties, and cash value insurance as an alternative to RSP & TFSA options.  Let’s chat to find out more ways you can take control of your financial situation.

Source 1: www.marketingmag.ca

Source 2: TD Bank Survey 2008

Source 3: Statistics Canada

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