Women and Wealth: Planning for Your Financial Future

Planning for your financial future can leave anyone with questions, but there is no one-size-fits-all solution. When it comes to developing financial strategies that work towards your goals, women may have additional considerations to make. At Harvest Wealth Partners, we understand that everyone’s circumstances are different. Our team will work with you to develop a financial plan that is appropriate for your situation, and aims at addressing your concerns for today and tomorrow. 

Financial Considerations for Women

Making appropriate steps towards your financial goals requires attention to the particular circumstances of your life and means. Financial planning for women can come with additional factors to consider, whether it’s addressing the general tendency to live longer or dealing with disparities in income and existing retirement savings. 

Experts say that tendency to make less over time can affect women’s retirement savings. According to Forbes, the numbers on gender pay gap tend to show that women make around 80% of what men do, and often spend a significant amount of time on unpaid work like household chores. Women may also face additional obstacles in caring for children and aging parents. In the event of divorce, women can also face additional financial pressures from loss of household income and increased responsibility for children. 

Planning appropriately for the future may be able to help address some of these difficulties. Setting goals and saving early for retirement can help prepare you for financial security both today and tomorrow. Some experts also argue that developing credit in your name is an important step for women to take to further that financial security. A high credit score will increase the likelihood that you’ll qualify for credit cards or loans that you may need in the future. 

Consulting a Financial Advisor

If you have questions about how to prepare for retirement and work towards greater financial security, you may find it helpful to speak to a financial advisor. Financial advisors can provide services for individuals ranging from private wealth strategies to guidance on saving for children’s college funds. Meeting with a financial advisor starts with an initial consultation, where we’ll discuss your greater financial picture and the goals you’d like to meet. 

At your consultation, you’ll also be able to ask questions of our advisors and see if our services are a good fit. If you’d like to continue, we’ll perform a more in-depth analysis of your financial needs and make recommendations that are tailored to your situation. 

Scheduling an Appointment with Harvest Wealth Partners

For women looking to improve their financial circumstances, there may be additional considerations to make for the unique challenges in your life. You may find it helpful to speak to a financial advisor about strategies for working towards your financial goals. Contact us today to learn more or schedule a consultation with a member of our team at Harvest Wealth Partners.