Women and Investing

By: Billy Peterson CFP, CDFA President


pws_logo_cochin_final_lightbrownMay means flowers, green grass, birds, spring cleaning and it means mothers. In this country we are making headway in acknowledging equal treatment for women, fully realizing that not many of us would have made it very far without our mothers. There are 85.4 million moms in the US. Mothers have taken care of us from the time we were conceived and continue to worry about our welfare even as we become adults and have children of our own. It’s estimated that moms perform 7300 diaper changes by each baby’s 2nd birthday. Additionally, 330 loads of laundry are handled each year- overwhelmingly by the mother of the household. In this day and age moms are busy. Seventy-two percent of moms with children over 1 year old have gainful employment vs. only 39% in 1976. How do they keep everything together? In what areas are they falling short?

Mothers want to know that they will be protected and financially secure later in life far more than the man of the house. They also are deeply concerned that their children will become financially independent, but they are so busy handling everything else that these issues fall to the back burner. According to a women’s study in February 2015, 92% of women want to learn more about financial planning and find out if they are on track, yet 8 out of 10 confess they refrain from having financial conversations. The conclusion? Moms and women in general don’t feel comfortable enough to even bring up the subject with anyone for fear of embarrassment. They want to understand but don’t feel they can connect with anyone on their own terms. For the simple reason that women outlive men by an average of 5-7 years, 90% of women will be in charge of the family finances at some point in life. The average age of widowhood is 56. Thus having a good working knowledge of the family’s financial situation is imperative. Knowing that the advisory team and wealth plan is in place can provide a great deal of comfort in turbulent times. Having contingencies in place such as life insurance, wills, trusts and health care directives in the event of an untimely death can make a world of difference in the future of a surviving spouse and children.

We love working with women at Peterson Wealth Services. Planning and preparing for what is to come is at the core of what we do. Since women are so busy juggling careers, children, community or church roles, we take pride in helping to alleviate one of their many challenges- choosing smart decisions with money and preparing for a life well planned.
So for all of you moms, be an example to your children and begin preparing for your future. Take the time to examine your financial score just like you monitor your health score. For the children of moms who are reading this, do something to help your mother take control of the things that are important to you both. Talk to her about her plan for income, for care and other late life issues that may put her in financial ruin. Put the odds of success in her favor by contacting an advisor skilled in working with women; one who understands the concerns moms have and who will take the time to listen and build a plan specifically for her. And don’t forget to thank mom for all of those messy diaper changes. Karma can be a real bummer if you know what I mean! Come see us to learn more.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Billy Peterson and not necessarily those of Raymond James.

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