Women and Wealth | Edmond Wealth Management

Women & Wealth

Women Face Special Challenges

Put plans in place to address your situation. Let us help you identify your strengths and gaps that need to be addressed so you can relax and feel comfortable with your plan. Details matter when it comes to strategies for Social Security, retirement income, how and where your money is invested and if there are risks that can be covered by various life insurance policies available.

Make Plans to Prepare for Your Future

When it comes to planning for your future, details matter. Where are your strengths and vulnerabilities? We want to see you relax and enjoy our life. Let us help you.

How Long Will Retirement Last?

The quality of your retirement years and the income to support you is of course the top priority! This is where financial planning can show you what your future looks like. Details and intentional planning can make a big difference for your future!

Choices of a Lifetime

Some choices are set when you make them; others you can change (as long as you still qualify). That's why it's so important to take careful attention to details and make the best choices for you! Social Security benefits, Medicare plans, retirement pension choices, long-term care coverage, life insurance... these are all key factors in planning for your future and are important to decide what is best for you!

Do You Have a Gap?

Annual Income needed for retirement

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Annual income from Social Security or a penson

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The Gap (Additional annual income needed)

If you don't know the answer to this question... you could be missing opportunities to address it and cover your gap. We can help.

What We Can Do

We can review your situation and create a Life Plan for you.

Careful investment allocation, protection coverage, and a financial plan to show you how everything fits together can make a big different for your future.

Special Challenges for Women

* Longer life expectancies

* More likely to be living on their own

* More likely to take career breaks for family caregiving

* Often earn less, have less retirement savings and a lower Social Security benefit

It's important to recognize these challenges and plan accordingly. We're here to help.

Challenge: Women More Likely to Take Career Breaks for Caregiving

* Lost income and employer benefits

* Potentially lower Social Security retirement benefit

* Economic vulerability in event of divorce or a spouse's job loss

* Possible difficulty finding a comparable job when reentering workforce

* Flexible schedules can affect salary and career development

Women are more likely to take time out of the workforce to raise children and/or care for aging parents. Sometimes this is by choice. But moving in and out of the workforce has several significant financial implications for women.

Challenge: Women Generally Earn Less

* Women who work full-time earn, on average, less than what men earn

* Impacts savings, Social Security retirement benefits, and pensions

* Increased vulnerability to unexpected economic obstacles: job loss, divorce, single parenthood, illness, loss of spouse

Impact of Health-Care Costs in Retirement

* Higher health-care expenses in retirement

* Surviving spouse may have to cope with depleted savings

* Most women over age 65 will need long-term care

Many women will have a need for long-term care because they are more likely to be living on their own in later years. Long-term care refers to the ongoing services and support needed by people suffering from chronic health conditions or disabilities.

It’s hard to face the fact that our health might decline, but most women will need some type of long-term care services at some point during their lifetimes after age 65. That care can be expensive.

Let us review your situation to see if there are strategies we can offer to help with this.