https://www.bridgedivorcestrategies.com/wp-content/uploads/2020/09/shutterstock_1289761714.jpg 1280 1920 BDSAdmin https://www.bridgedivorcestrategies.com/wp-content/uploads/2020/08/bds-logo.png BDSAdmin2021-03-26 00:24:192021-12-16 16:10:51How to Conquer the World: 5 Strategies for Savvy Single Women
How to Conquer the World: 5 Strategies for Savvy Single Women
Did you know that 69% of American women are living without a spouse or partner? If you’re on your own, it’s important to approach your finances in a way that makes sense for your unique needs. Here are five strategies that can help.
- Build an Emergency Fund – Sometimes, when it rains, it pours. Saving up for a rainy day (like sudden job loss, major medical expenditure, or natural disaster) is one of the smartest places to start. While a credit card can help in some emergencies, using cash means you can avoid fees and interest. Six months’ salary can be an ideal goal.
- Protect Your Assets – It’s not all about saving; the right insurance coverage may also play a role in your financial strategy. Even if you’re offered some basic types of coverage through your workplace, you may find there are additional angles you’d be wise to consider. Being well insured can save you major headaches down the road.
- Never Stop Learning – Even if you have a financial professional helping you build your strategy, it’s still important to stay engaged and aware. The more you educate yourself on the financial issues you may face as a woman (like wage gaps, time out of the workforce, longer lifespan), the better prepared you’ll be when life throws you a curve ball.
- Consider Investing Differently – On average, women tend to live longer than men, meaning you have more years ahead that you’ll need to finance. Given women’s unique financial needs and challenges, it makes sense to talk with your financial professional about long-term investment strategies that might be particularly advantageous to you.
- Prepare Your Legacy – “Getting your affairs in order” needn’t be a morbid exercise that you delay until the end of your life. Ideally, it’s something you’re already thinking about now. Your estate decisions matter, whether that means keeping your beneficiaries updated, making extended care decisions, or preparing a legacy to leave your loved ones.
When women win, everybody wins. We want to see you conquer the world. With a savvy financial strategy in place and a knowledgeable team at your back, you can be more confident about your future you’re creating for yourself — and those you love.
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