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Financial Tips for Women Who Want to Age in Place

Steps to Help You Remain Comfortable and Independent in Retirement
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 23 January 2023

Financial Tips for Women Who Want to Age in Place

After diligently saving and managing your money through your working years, it can be tempting to take your foot off the gas and let your finances take a backseat once you retire. After all, you’ve finally reached retirement – what’s left to plan for? However, for women, who statistically have longer retirements, careful financial planning is crucial if you want to enjoy your retirement in its entirety. This is especially the case for women who are hoping to age in place.

The tips below are designed to help you make the most of your golden years when you want to remain in your home and live independently.

Money Management Tips for Blended Families

How to Navigate Financial Dynamics When Merging Two Families into One
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 12 January 2022

Money Management Tips for Blended Families

Preparing financially for marriage can always feel a bit challenging, and that can be an even bigger challenge for blended families, meaning families in which one or both spouses have been married before.

Today, about 40% of new marriages represent a second marriage for at least one spouse, meaning more people than ever before are facing the unique financial dynamics involved with blending two families into one. The money management tips for blended families below can help you navigate the hurdles you may face in your own blended family.

How the Wage Gap Impacts Women’s Retirement (And Tips to Overcome It)

Finding Ways to Develop a Successful Retirement Plan Despite the Odds

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 13 September 2021

How the Wage Gap Impacts Women’s Retirement (And Tips to Overcome It)

When it comes to retirement savings, women are at a disadvantage compared to their male counterparts. From the impact of the gender wage gap compounding over a lifetime, to caregiving responsibilities, divorce implications, and more, women often make and save less money than men. Yet, the data shows that they outlive men and are much more likely to end up widowed. When all that combines, the reality for many women is that their typically smaller savings for retirement must cover a longer timeframe. 

Understanding the Emotional Impact of Retirement

This new chapter of life can feel uncomfortable if you haven’t taken the time to emotionally prepare.

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 26 April 2021

Understanding the Emotional Impact of Retirement

There is a significant connection between retirement and emotions, and many retirees are unprepared for it. This is why I often work with clients who struggle with the discomfort of being newly retired. This struggle occurs for those who haven’t given enough thought to what their life might look like when they leave their career. The challenges might be associated with identity, relationships, finding new ways to fill time, or maintaining frequent social interaction.

It’s also common for “money emotions” to impact new retirees. There’s the excitement of closing one of life’s chapters and starting another, and of spending more time doing things you enjoy. However, there is also sadness in closing a chapter of your life, especially if you enjoyed your career. There’s the fear of “turning off” your paychecks, and of unexpected illness or expenses that could cause you to run out of money. There are also feelings of great responsibility for filling an unknown amount of time with a finite amount of resources, as you hope you’ve planned well enough for the retirement you want to have.

Below, we’ll discuss how asking yourself tough questions before you retire is the best way to prepare for the emotional challenges many new retirees face.

Eight Steps to Get Your Finances in Order for Retirement

Use these tips to ensure you can make your retirement dreams a reality.

By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 24 March 2021

Eight Steps to Get Your Finances in Order for Retirement

The following article is based on content in my book, Flourish Financially: Values, Transitions, and Big Conversations. If you’d like to read more, you may purchase a copy here.

If you’re like most people, you have a pretty good idea of what your dream retirement looks like; where you’ll live, how you’ll spend your time, which hobbies you’ll cultivate. However, visualizing your ideal retirement lifestyle isn’t the same as preparing your retirement finances to make that dream a reality.

Even if you’ve been disciplined about saving for retirement, it’s common to harbor worries about running out of money. In fact, it is the number one retirement concern. This uncertainty can be even more stressful if you don’t have a solid idea of how much retirement savings you truly need. If you would like clarity and more peace of mind, use the eight steps below to get your finances in order and create a successful and fruitful retirement plan.

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