Women who have meticulously planned for their retirement may still fear what will happen to those plans if they lose their spouse, either through divorce or death. Income you expected to have as a couple may not be there – or may be significantly lower – once you’re on your own. No matter how careful and complete your plans are, they’ll change if you lose your spouse.
Responsible wealth management also means planning for less cheerful times, including the period following the death of a spouse. In that circumstance, taking the time now to plan for the well-being of the spouse living alone could preclude years of anxiety and loss of wealth.
You can make conversations with your parents about their finances easier and more productive. These conversations are critical to understanding and meeting your parents' wishes, and far preferable than leaving things to chance.
Whether you’re in a single- or dual-parent family – or if you have kids at all – the smartest plan for getting ahead will always be to take stock of where you are and where you want to be, and creating a realistic, workable plan to get there.
Despite all the strides women have made toward equality in the American workplace, the gender pay gap remains frustratingly persistent.
