Tag Archives: financial independence

Women Should Plan to Live to 100-Really??

100BirthdayCake_250I read any and all writings about women and money that come my way.  This one makes us think!  Just click here to learn more about the possibility of living to age 100 and how to plan for it.

Enjoy!

Debra Hadsall

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To order my book Financial Freedom Party for Women, A Little Book about Money for Women, Workbook Edition, please click here.

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New Year, New Chance to Increase Retirement Contribution$$$

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When I was a financial advisor, I learned that the time between Thanksgiving and January 1st was going to be a slow time for me in terms of working with new clients.  Yes, existing clients were often on vacation and using that time to catch up with me and to check in about their accounts and plans.  The rest of the world seemed to be waiting until the first of the new year to really think about their goals, dreams, and how their finances could be changed or improved to meet them.

Every year about this time I would print out a new list which showed the maximum contributions allowed in various types of retirement accounts.  In reality, most people don’t contribute the maximum and often they just look at the list and give up.  So, just  remember, these are the maximums.  You can contribute less and work towards your goals.

To see the list for  2014, please click here.  Good information to know and to discuss with your advisor or with the person who is knowledgeable about your company or organizational retirement plans.

Please share with others.  As I often say, don’t always assume everyone knows what you know or takes the time to access

Until next time.

Debra Hadsall

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Welfare a Career Choice–Not Really

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There has been a Facebook posting going around recently which says:

 WELFARE ISN’T A CAREER PATH

I hit the LIKE button because there is so much wisdom in so few words. 

Those of us who haven’t experienced welfare as the family business have to kind of step back and see why young folks might envision long time public assistance as the way to make a living.

Children and youth are highly influenced by their environments, parents, or whoever is responsible for raising and educating them.  So, if a young person comes from a family who accepts public assistance as the norm, how will she or he change without learning alternatives and seeing different behavior modeled?  I believe some of this learning needs to be about finances.  How can no earned income and low-income folks do better if they don’t learn the basics?

Over the last few years, I have been part of a team of women who are lucky enough to do life skills mentoring with a small group of young women who are in high school.  Some of the students come from home situations which involve parents who work many hours at low paying jobs, or who rely on some level of public assistance.  Geographically, they live in an area which has pockets of poverty and an overall cultural acceptance of pregnancy in teens. 

We feel lucky.  These students are smart and willing to learn.  This year we included an enhanced focus on teaching sound bite pieces of financial information.  Topics were as basic as understanding a checking account, using a debit card, or how the little print on credit card applications needs to be carefully understood.  The students read short quotes from my book, Financial Freedom for Women®, A Little Book about Money for Women, and from other writings.  One afternoon we bravely did a short segment on stocks, bonds, and mutual funds.  As with adults, some were interested and some weren’t.

We learned that the concept of saving (except for  purchase of an iphone) was pretty much a foreign idea in general, and that retirement savings and even being able to retire at all were totally unheard of in their community. And for now in this economy, it’s pretty difficult to show how interest can work for you (make your savings grow) instead of against you (credit card debt & student loans). As always, tiny bites work well for everyone.

At the end of the school year we offered to give each student a copy of my book at no cost.  We suggested not asking for one if it was just going to get pitched into the trash (always a possibility with anyone and financial books).  Big surprise, they all signed up to get copies.  It was exciting to know that this group of students has access to basic financial information which teaches about a life choice of creating income and the value of investing.  Will they all read and learn, hard to tell.  At least we took a chance on each other. 

I’m hoping that someday my Facebook page will show postings from one or more of these young women which read something like this:

  MC910215909 I OPENED A ROTH IRA

  MC910215909 I BECAME A FINANCIAL ADVISOR

  MC910215909 TODAY I BOUGHT LIFE INSURANCE

Then I will hit the LIKE button again and again!

Until next time.

 

Debra Hadsall

www.financialfreedomparty.com