HOW YOUR FINANCIAL PLAN CAN GO OFF COURSE
Like potholes on a highway, there are lots of ways your financial plan can go off course. Part of a financial advisor’s job is to teach you how to drive defensively so that your financial plan doesn’t end up in a ditch.
Most People Don’t Complete Their Estate Plans
Gay or straight, when it comes to wills and estate planning, people have a hard time finishing what they start, says Jennifer Hatch of New York-based Christopher Street Financial, which specializes in LGBT clients.
More On Completing Financial Plans: Women Say Financial Planning Too “Stressful”
Student Debt Can Ruin All Your Dreams
Eve Kaplan of Kaplan Financial Advisors in Berkeley Heights, NJ has clients in their 30s, 40s, and even 50s who can’t afford to buy that nice house they want or, for that matter, do much of anything that costs money, because of the unending burden of student debt. Can their dreams be saved?
You Need to Think of Yourself as a “Pre-Widow”
Think of it as pre-widowhood, that time when your husband is starting to falter and it’s becoming increasingly clear you’re going to be left in charge of your own finances. As a pre-widow, you need to prepare for what’s to come, no matter how unpleasant the thought, says Debbie Taylor of Taylor Financial Group in Franklin Lakes, NJ.
For Working Moms, Flexibility is the “Key to the Whole Puzzle”
Beware, single moms: the traditional corporate workplace can not or will not accommodate a woman’s need to work and raise kids at the same time, says Dorie Fain of AndWealth in New York. Above all else, says Fain, a single mom herself, you have to build flexibility into your life . . . and accept that you can’t “have it all.”
More On Moms’ Need For Flexibility:
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