A Financial Poise column exposing the gender gap in investment management and wealth strategies, and why the industry needs to pay more attention to “Boomer” women in transition.
Financial Transitions when Mom Has Money For many, it is a common dream: a peaceful retirement after years of hard work providing for your family. It is the iconic American Dream to work and then to pass along the fruits of your labor to the next generation. But as lovely as this image may feel, […]
The financial transition is understandably overwhelming — especially during a time of personal transformation, such as dealing with divorce or remarriage.
As the baby boomer generation ages, women outlive their husbands more often than not. Too often, the couple’s financial advisors sit across from aggrieved widows who were not involved in money decisions. In this situation, what can boomer women (and their advisors) do to ease the pain and burden?
For many boomer women, the subject of family finances is not an easy one to tackle. Men may feel it is their responsibility or duty to handle this (stereotypically masculine) topic without burdening their spouses.
It is likely that Boomer women were largely uninvolved in their family’s finances throughout their lives. Males and females tend to have different priorities when it comes to managing their finances, and a woman advisor can be invaluable in helping to cater to these needs and make women feel more comfortable throughout the process.