Women like a different kind of approach than men when discussing investments.
Now versus later - Because generally women are responsible for the day-to-day running of family finances, it is sometimes easy to get absorbed in today and not as easily have the vision for 30 years down the road. Having an understanding of how small amounts saved now can create wealth in the future is one of the keys to getting some women excited about saving and investments for retirement especially.
Talked to not 'at' - It isn't done on purpose, but a typical complaint that I hear from women - and frankly some men- who come into my office is that they felt that they were being lectured in meetings with financial professionals. That they were being sold, spoken AT not spoken to. Things were not explained as well as they would have liked. Decisions felt as if they were already pre-made for them.
Participatory process - Conversation and exploration of issues not necessarily consider is at the heart of the financial planning process. Besides what your goals and dreams are, what about managing risk? What do you think would be best for your family in the event this or that occurs? Some folks in my office get right into the details of a particular product or investment strategy when what needs to be determined regularly is the wisest direction for the family's financial needs. And wisdom requires all minds working to optimize the best analysis, most suitable products and regular conversation to keep the plan on course.
That means we need all grown-ups in the family to contribute their best sense of what your family needs for their best future.
Marion Syversen, MBA
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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