The Pressures and Benefits of Being a Female Breadwinner

Tips for Making this Household Dynamic Work for You

By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 27 May 2020

The Pressures and Benefits of Being a Female Breadwinner

Recent economic changes brought about by the COVID-19 pandemic have changed the financial balance of power in many households. Even before that, though, a new trend was emerging. Today, more than half of American households are dual income, with the majority featuring the man as the primary breadwinner. However, the number of women outearning their male partners continues to grow. In fact, over the past five years, the number of female breadwinners has grown to four out of ten households.

This is an exciting statistic because it means women are harnessing their financial power in the workplace and taking the lead in their families in a way that hasn’t happened historically. However, it also means women are facing more pressure than ever before to perform at a high level both at work and at home. This can lead to a lot of stress and anxiety, especially if both partners fail to support one another.

Let’s take a look at the pressures and the benefits associated with being a breadwinning woman:

Personal Financial Habits and How the Coronavirus May Have Changed Everything

Here are five areas of finance that may be viewed through a different lens in the aftermath of Covid-19.

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 11 May 2020

Personal Financial Habits and How the Coronavirus May Have Changed Everything

In just two short months the world that we all knew has changed. It is likely to stay changed in many ways for many years to come. As with anything that has a dramatic impact, we try to look at ways we may grow or learn from the upset. When it comes to personal finances, investing, retirement, and our overall attitudes toward money, I wonder what impact this pandemic will have on couples, families, and individuals.

Whether you have a lot or a little, no one was left untouched by this virus and the economic toll that it has taken. This time in our history will leave an indelible mark on our emotions and the way we think about and interact with money. If you’ve just retired, you may have seen a significant drop in your retirement investments that you are counting on to last you several decades. If you’ve just graduated from college and you were on the hunt for your first career job, you may instead find yourself back at home with mom and dad. If you’re an actor or musician your prospects for the moment are nil. If you are fortunate to have a job that is stable and you are working from home you may be fully aware that the raise you were about to ask for is not likely going to happen this year.

So, what does this mean for the role of personal finance in our lives? For each of us, it may be a bit different, but I have identified five areas of finance that may be viewed through a different lens in the aftermath of Covid-19.

Managing Emotional Reactions in a Time of Financial Uncertainty

Don't Make Investment Decisions Based on Fear

By Kathy Longo, CFP®, CAP®, CDFA
Thursday, 16 April 2020

Managing Emotional Reactions in a Time of Financial Uncertainty

One thing we all know for certain is that we are living in uncertain times.

The COVID-19 pandemic has turned our world upside down and we are each feeling it in very personal ways. One shared concern among many people, however, is the financial impact this public health crisis will leave in its wake. Despite the emotional tornado we’re all living through it’s important to remember that managing our emotional reactions is one of the best ways we can contend with times of uncertainty so that we can come out the other side having made smart decisions based on more than our fears.

For many people, fear is magnified at the moment, especially where investments are concerned. We’re living in a scary time. However, we believe turbulent times call for a calm and cool approach to personal finance, reminding ourselves of the lessons learned from prior crises, and getting back to basics. Although there is much we cannot control right now, it’s a great time to refocus on the things you can.

So, if you’re feeling unsettled about money matters at the moment, channel more energy into these five areas of your personal finances:

Three Key Market Questions in 2020

By Jay Pluimer, AIF® CIMA®

Wednesday, 19 February 2020

We’ve had an interesting start to the new decade as a variety of key economic, political, and investment questions are working together to create market volatility and investor uncertainty. There are a few questions that come up frequently during client conversations and hopefully we can share the research we’ve conducted to find answers. As evidence-based investors we like to look at historical market information so we can inform our views of the present based on what has happened in the past. History may not necessarily repeat itself, but historical data can provide a helpful perspective.

Is Your ‘Financial Pyramid’ Upside Down?

Here’s How to Ensure You’re Focusing on the Right Things
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 10 February 2020

Is Your ‘Financial Pyramid’ Upside Down?

It has been estimated that 11 million bits of data travel across our brains every single second, yet we only process about 50 bits per second. You don’t have to be an expert in Information Theory to understand that this means two things: we simply can’t focus on everything and what we do focus on matters. An excellent example is what we choose to emphasize in our financial lives, yet many people have allowed their ‘financial pyramids’ to be turned upside down.

Top Financial Advisor in Minneapolis

Contact Us

  • 3300 Edinborough Way
    Suite 420
    Edina, MN 55435
  • FAX: 952.953.3310
Listen to Flourish Financially on Your Favorite Streaming Service

Copyright © 2020 Flourish Wealth Management, Inc. All Rights Reserved. Powered by AdvisorFlex.