5 Personal Finance Tips for Women

While most financial tips apply to everyone, there are some that are more relevant to women. 90% of women will have to manage their finances on their own at some point in their life, and unfortunately, too many women lack confidence, and may hesitate to take control of their finances.

These five tips can help more women take control of their money:

1. Improve your knowledge. 92% of women are eager to learn more about their finances. It’s really not as complicated as you might think. Find a good source of information, and learn at your own pace The David Lerner Associates Newsroom has many articles about Women and Financial Literacy.
2. Talk to a professional. 80% of women confess that they avoid discussing finances and have not consulted a professional. Find someone who will really take the time to listen to your interests and concerns and help you to achieve your personal financial goals.
3. Learn about the Sensible Middle Ground of Investing. Instead of stressing about the ups and downs of the market, take a different approach. Invest in a wide range of investments that are based on real value and designed to pay dividends or interest.
4. Plan your retirement. 60% of women worry about having enough money for retirement. If you plan now, you may not have to be among those worriers. Take into consideration the fact that women tend to live longer than men and so have more years of retirement to fund. Speak to your financial professional about how a divorce would affect your retirement plans.
5. Start right now. The longer you wait the less time you have to catch up. The sooner you take an active role in your own financial future, the better than future will be.

IMPORTANT DISCLOSURES

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC