3 Important Ways Planning for Women Is Different
Financial planning for women is unique in several ways.
Today, I want to talk to you about financial planning for women. While financial planning for everyone is a unique situation based on personal circumstances, there a few things specific to women that we want to take into consideration when developing financial and retirement plans.
The first is women tend to have a longer life expectancy than men. That means there's a longer time frame to plan for. How you plan for Social Security, cash flow, budget, etc. will likely change based on this factor.
Second, women tend to have a pay gap during their careers. So when planning, budgeting, and projecting out into the future, we also have to take this into consideration to ensure we’re developing the right strategies for each woman.
Lastly, women tend to become caregivers in their later years. That's another emotional and financial struggle that women deal with that many many do not. And it's something that a lot of thought and planning needs to go into.
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