Six Things Women Need to Know about Money

Women Have Come a Long Way  Women Account for 64% of the $20 Trillion Spent Annually on Consumer Goods Worldwide 1  Women Control 51.3% of the Nation’s Private Wealth 2  Women Will Be Responsible for Roughly $5 Trillion of Additional Earned Income Globally over the Next Five Years 3 1 CNNMoney.com: “The Female Economy: What Women Want.” August 20, CNNMoney.com: “The Female Economy: What Women Want.” August 20, “ Woman Power: The Rise of the Sheconomy.” Time. November 22, 2010

Facts About Women & Money  The average age a woman becomes a widow is  Nine of ten women will eventually become solely responsible for their financial affairs. 5  Women tend to live longer, earn less, and save less for retirement. 6 4 CBSnews.com; Financial Tips for Widows Women’s Institute for a Secure Retirement, National Center for Women’s Retirement Research 6 Plamer, Kimberly, “Why Women Should Manage Their Own Money”. October 18, women-should-manage -their-own-money

What it Takes to Save Money:  Good Records  Frugality  Discipline 1. Save and Reduce Debt

How to Deal with … Wants  Cell Phone  Netflix  Hotels  Restaurants  Car Needs  Landline  Cable TV  Camping  Cooking at Home  Bike

1.Long-Term Health Care  Women represent 87% of the recipients of long-term care 7 2. Living Alone  88% of women age 75 or older are living alone 8 3. Financial Security  45% of older women living alone are living in or near poverty 9 2. Create a Financial Plan that Addresses Women’s Financial Concerns 7 COWL.com 8 Seniors-site.com: Women going it alone; AARP Public Policy Institute 9 Seniors-site.com: Women going it alone; AARP Public Policy Institute

Three Important Steps to Take Control of Your Financial Future 1.Develop a Financial Plan 2.Grow Knowledge of Investing Fundamentals 3. Talk to your Financial Advisor

Five Attributes of a Good Financial Advisor  Credentials  Referrals  Personal Interview  Disclosure  Due Diligence

Identify Your Financial Goals 1.Children or Grandchildren’s Education 2.Financial Security – Now and in Retirement 3.Lifestyle

Review Your Current Financial Situation  Income and Expenses  Net Worth  Retirement Programs – Employer and Personal  Insurance  Beneficiary Designations

Ingredients of a Good Financial Plan  Set financial goals— For purchases such as cars, retirement planning, insurance  Discipline— Stay the course  Outsource— Build relationships with people who can help you

Benefits of a Good Financial Plan 1.Increased intimacy with your life partner 2.Learn along with your spouse or mate 3.Build a solid financial future

Types of Investments:  Home, Real Estate  Art, Collectibles  Stocks and Bonds  Insurance Policies 3. Investing

 Will or Trust, Executor  Custodial Plan for Children  Investment Statements  Employee Benefits  Insurance Policies 4. Create Personal Documents

4 Kinds of People In the World 1. Those that have been caregivers. 2. Those that currently are caregivers. 3. Those that will be caregivers. 4. Those that will need caregivers. Rosalynn Carter, Build a Long-Term Health Care Plan

Senior Care in the ‘70s

Senior Care-Giving Now

Changing Realities THENNOW  Pension  Hardening of the Arteries  Senility  Live with Family  Rest Home  401(k) IRA  Dementia  Alzheimer's  Home Health Care  Nursing Home

6. Plan for Retirement

LIVING LIFESTYLELEGACY Rent/Mortgage Family Utilities Vacations Gas/Car Dining Out Charity Clothing Entertainment Healthcare Second Home G overnment Food Gifts

Remember:  Women Influence Today’s Economy, Businesses and Workplace  Women Earn Less, Save Less, Live Longer  Women Should Develop a Financial Plan with a Financial Professional  Women Should Grow Their Knowledge of Investing Fundamentals

Summary: Six Things Women Need to Know About Money 1. Save and Reduce Debt 2. Create a Financial Plan 3. Invest for Your Future 4. Generate Personal Documents 5. Build a Long-Term Health Care Plan 6. Envision Retirement

Questions?

The information presented is not intended to constitute tax or legal advice. Please consult with your attorney or accountant for advice specific to your situation. Securities and Investment Advisory Services offered through NFP Securities, Inc., member FINRA/SIPC, Kehoe Financial Advisors, LLC is not affiliated with NFP Securities, Inc.