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The first step in the Plan Single process is to know what you have and where it is. Consolidate everything you need in one place.
- A 2018 study by financial firm UBS reveals that while a large majority of women will at some point be solely responsible for managing their own finances, 61% of them report not knowing where to begin when it comes to investing. The better the job you can do articulating those relationships, interests and goals that matter most to you, the more confidence you can have …Read More »
- Money is one of the most frequent topics married couples argue about. And disagreement over the substance of financial decisions is not usually the source of the argument. Is that surprising? Mutual respect is critical because as soon as people perceive disrespect in a conversation, the interaction is no longer about the content – it becomes all about maintaining dignity. Arguments happen when negative emotion …Read More »
- To effectively PlanSingle you and your partner will need time to review your financial situation and work on long-term strategy. But juggling many of the short-term activities is what keeps many couples from finding the time for planning conversations. It also leads to dividing the responsibilities where one partner handles long-term and investment decisions and the other, usually the woman, handles the day to day. …Read More »
- “My world and my life as I knew it ended that afternoon” read Rhonda Shousterman from her victim impact statement this week, referring to June 22, 2018 when York Regional Police told her that her husband had been living with a coworker after a staged wedding more than two years before. “In addition to the emotional the trail, James impoverished to me… He not only …Read More »
- Make the time and take control. That’s the advice of 98% of widows and divorced women from a recent survey of 1,700 couples from financial firm UBS. The report, Own Your Worth, explores the myths and realities of women and money. In one clear message is those who did not have a role in managing the family finances regret not having been more involved. Eight …Read More »
- After a divorce, your home may be a sanctuary or a ball and chain. If you start down the difficult path of divorce, many of the decisions involve how to divide the assets. And one of the more difficult and significant assets in many marriages is the house. Too often we see one spouse (frequently the woman) insist on keeping the marital home and suffering …Read More »
- You deserve to have an advisor who values you individually whether you are single or part of a couple. Many couples divide and conquer. He takes the daughter to soccer practice and she takes the son to music lessons. He vacuums, she does the laundry. She does the grocery shopping, he handles the finances. And that’s fine. In some cases, the only way a couple …Read More »
- Fighting your own instincts, and possibly the advice of some professionals, to make a lot of decisions in the aftermath of losing a spouse may be your best financial decision of all. There are lots of decisions to make in adjusting to single life after losing a spouse. And being widowed is devastating. That combination can lead to some bad outcomes if not handled thoughtfully. …Read More »
- “I never realized mom had this much. I have never seen this much money before much less handled it. I have no idea what to do.” It is not a problem most people anticipate but many advisors hear something like this at least a few times in their careers. Receiving an inheritance can be a beneficial outcome associated with a great personal loss. And it …Read More »
- PlanSingle means having a strategy that works for you whether you remain single, stay married, or find yourself single again. A key component in a successful strategy is having the right advisors. But many women are not happy with one or more of their advisors and many married women find one of their advisory relationships works better for her husband than for her. Widows benefit …Read More »
- Give your kids a head start and help them take control of their finances earlier. You have taken the PlanSingle philosophy to heart. You’re working hard to make sure that you are in good financial condition and are well informed and will remain that way regardless of what twists and turns life has in store. And you want your kids to have the same security. …Read More »
- Gerri and Fred had a wonderful marriage and were gradually moving into a retirement they had planned and looked forward to. She had been a writer and editor and he owned a business and was passing the baton to his son-in-law. Fred’s lapses of memory were just a part of getting older. They both had aches and pains they had not had when they were …Read More »
- If you have ever taken a cruise, you probably remember that the first ship-wide activity is to meet on deck for an orientation to lifeboats, personal flotation devices, and what will happen if there is an emergency on board. The cruise line wants to make sure that everyone will be okay no matter what happens. That’s the plan single philosophy. While the plan is that …Read More »
- Is it possible to make the world a better place while also saving for your financial future? The answer is yes, thanks to an investment discipline known as Socially Responsible Investing (SRI). Investors who adopt an SRI approach to investing seek to achieve competitive financial returns while also avoiding companies that conflict with their personal values. The term SRI is sometimes used interchangeably with “sustainable …Read More »
- Whether your financial baggage is a carry-on or steamer trunk, you will each now join or reconfigure your investment systems to fit your newly blended life. The vows are the easy part; the merging of his, mine and our money not so much.Read More »