Author - Claire Emory, MBA, CFA, CFP®

1
Women, the Great Wealth Transfer, and Financial Planning
2
Do Women Need Special Strategies for Money Management?
3
Consider Famous Women Financial Advisors as Role Models
4
Financial Planning for Families: Childcare Costs, Part 2
5
Giving Money to Adult Children May Derail Retirement Planning

Women, the Great Wealth Transfer, and Financial Planning

In recent years there has been a lot of talk about ‘the great wealth transfer’ that is taking place—as time goes on women will control more money than before. Morningstar Canada recently published an article about this noting, “Because of longer life expectancies and advances in the workplace, women in North America are controlling an ever-growing share of wealth. According to a report by the BMO Wealth Institute, women in the United States currently control US$14 trillion – more than half the country’s personal wealth — and that figure is expected to grow to US$22 trillion by 2020.”

This …

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Do Women Need Special Strategies for Money Management?

Do Women Need Special Strategies for Money Management?

Money Magazine convened a panel at the 2015 Financial Planner Association conference to explore the question “Should Men and Women Manage Money Differently?” The experts did not all agree to whether or not men and women should manage money differently but they did agree that men and women tend to differ in their approach to money management.

The panel discussed some ideas you may have heard before: women are not actually “bad” at investing or financial planning but just tend to be less confident in their decisions; women who are …

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Consider Famous Women Financial Advisors as Role Models

March is Women’s History Month and in the past we’ve discussed famous historical women in finance like Hetty Green and Abigail Adams who may serve as role models. It is also important to highlight contemporary women who have made their mark in the financial world.

Last year Investopedia published a list of famous female financial advisors and noted, “Although most famous women financial advisors aren’t well known in celebrity circles, their accomplishments are noteworthy.”

You may already know of Suze Orman and Mellody Hobson, the first two women on the Investopedia list, but the other four may be less familiar.…

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Financial Planning for Families: Childcare Costs, Part 2

As discussed last week, sometimes childcare simply costs too much. Based on their earnings, impoverished families can’t pay for someone to care for a child. And middle-class parents find they have little left over or are in debt each month after they have covered housing, transportation, and food costs because daycare fees tipped the scales on the delicate economic balance they had achieved before having children.

So what are parents to do? Many articles we found include examples of two-parent families, while mentioning that single parents struggle even more. In a previous post, we wrote, “Stay-at-home Moms: Prevent

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Giving Money to Adult Children May Derail Retirement Planning

In “Reopening the Bank of Mom and Dad, to Help Adult Children,” The New York Times offers cautionary tales and advice for parents who help adult children that don’t earn enough or have some kind of financial emergency. Even Baby Boomers who have done retirement planning may not have seen the needs of their adult children on the horizon. The desire to help adult children can derail the financial planning they have put in place. Many parents say they would not want to be a financial burden on their children but that is what can happen when parents …

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