Published by Taylor Financial Group (for women)
Although I am happily married with three kids, I remember my single days fondly. There are many perks to being single. For example, I didn’t have to share my room with anyone, or hide chocolate chips less someone (he knows who he is) eat them all! Additionally, today’s society focuses on female empowerment more than ever, and blockbuster Hollywood movies like Wonder Woman (read our previous blog about Wonder Woman) remind us that women are a force to be reckoned with. Therefore, it is no wonder that as society has begun to destigmatize single women, more and more women have been reluctant to give up the independence that comes with being single.
For these reasons and many more, women have been spending more time single and less time married than they did in the past. In fact, according to data compiled by the Center for Retirement Research at Boston College, women are getting married later in life, simply not marrying at all, and getting divorced more often than they did just 50 years ago. Moreover, experts predict that soon women are going to spend less than half their adult lives as part of a couple, which has significant implications for financial planning.
So, at this point you may be asking, how much does this really affect me and my financial future? Well, the answer is that it will likely affect you and your financial future a whole lot, especially if your financial advisor does not provide you with an individualized financial plan. Regardless of relationship status, it is important for women to build their own personalized financial plan (where their finances are analyzed separately, apart from their spouse) that provides them with invaluable knowledge.
As always, if you’re feeling overwhelmed with your finances, your plans for the future, or your retirement, don’t hesitate another minute – contact us today to find out how we can help you regain your confidence and control over your finances!
Financial Advisor Online, Women Spending More Time as Single, August 31, 2017
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