Women

Financial Freedom:
Keys to Women’s Security

Women have unique financial needs and goals, and it is important to address these needs through comprehensive financial planning. Today’s women must be proactive in preparing for their financial future by considering long-term objectives, such as retirement savings and estate planning. Through careful preparation and strategic planning, women can gain the confidence they need to make sound decisions that will help secure their financial well-being.

Financial Preparation for Women: Taking Charge of Your Financial Needs

In today’s world, women are more independent and successful than ever before. However, despite this progress, they still face unique challenges when it comes to financial planning. Women earn less on average than men do, which means that they have to work harder and be smarter about budgeting and saving. Additionally, many women take time off from their careers to care for children or family members, which can impact their earning potential in the long-term.

To overcome these obstacles, it’s important for women to be proactive about managing their finances. This starts with setting clear financial goals and creating a plan to achieve them. Whether you’re saving for retirement or looking to buy a home, having a solid plan in place can help you stay focused and motivated as you work towards your goals.

You need to act. Let’s get started.

Financial Planning for the Widowed Woman

Losing a spouse can be one of the most traumatic events in a woman’s life. But with women living longer, on average than men, it’s likely to happen. In fact, many widows have many happy, healthy years without their partners.

Circumstances do vary, but there are a number of ways women can take steps to protect themselves and their financial situation immediately after the death of a spouse and in the years following.

Immediate Needs

Through the haze of grief, there will always be bills to pay and details to iron out. If you have minor children to worry about, it can be even more complicated. If you have recently been widowed, there are some issues you should try to address earlier than others.

Know your rights. Even if you weren’t named outright on any assets, you may still have rights. For example, you may be able to remain in the family home even if you aren’t on title and you aren’t the direct beneficiary of the home. You may also be entitled to survivor benefits from CPP – and your children may be eligible for orphan benefits – but you must apply as soon as possible.
Prepare for taxes. Death often triggers the tax man. But if your spouse left everything to you, there may be ways to minimize the bill by transferring it until after your death.
Invest the money. If you haven’t been in charge of the money, it may be overwhelming. It’s important that you consider the right way to invest any money you inherit from your spouse, in order to make sure that it will provide the things you need.

What about your future needs? Click here to read more.

Financial Planning for the Single Woman

It might feel as if everyone is paired off. But if you’re single, you’re part of a fast-growing demographic. In fact, the number of people living alone in Canada has doubled over the last 35 years. A one-person household is now the most common type of household in Canada.

Whether you’re single by choice or by accident, it’s critical for a single woman to manage her money wisely. The pressure is on you alone to provide funding for the life you want to live. And while the single life does have its benefits, there are also some unique challenges to being single that must be addressed.

Financial Planning
Disability Planning
Estate Planning
Insurance Planning

Financial Planning for the Engaged Woman

For many women, engagement is a time of excited anticipation. You’re happy in love, planning the wedding of your dreams and dreaming of your new life.

But engagement is also a tremendous opportunity to work together with your in a new area. According to a recent poll, 85% of Canadians feel that having similar financial goals and habits is a requirement for a healthy relationship.

This means you’ll have to start working together – before the wedding.

For better, for worse
For richer, for poorer
In sickness and in health

For more information, click here.

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FINANCIAL SECURITY FOR WOMEN