WOMEN IN CONFIDENCE

Women in Confidence

Women in Confidence provides a supportive community for educating, empowering and energizing women so that they may embark on the next chapter of their life journey with confidence.

Amy L. Colton, MBA, CDFA (Certified Divorce Financial Analyst) is Managing Director of Women in Confidence for Forefront Wealth Partners. The team at Forefront looks at life transitions through the eyes of women to determine how wealth management services can help deliver a lasting foundation for lifelong financial security and personal success.

DIVORCE

Divorce can be a distressing and painful transition. Often women feel disconnected from the life they knew and apprehensive about the unknown world they are stepping into. A strong, coordinated, team of both legal and financial advisors is essential to ensure a woman’s rights are well protected.

VITAL PRIORITIES — the division of marital assets and liabilities, spousal support obligations; child support and visitation; the impact of taxes, health and life insurance decisions; and estate planning.

RETIREMENT

Women need to have clear expectations and be prepared to identify obstacles, roadblocks, or fears around the transition to retirement.

VITAL PRIORITIES — model and evaluate income and expense scenarios to ensure that money doesn’t run out, the amount and timing of Social Security benefits, proper handling of employer plan distributions, healthcare coverage, and risk management options such as life and long-term care insurance.

LOSS

The loss of a spouse, a child, or other loved one is emotionally devastating.

A strong support system, including family, friends, and clergy can be of immense help during this re-building process. Beyond these, a trusted financial professional who helps direct monetary decisions and acts as a supportive team player can greatly relieve stress and preserve net worth during this difficult time.

INHERITANCE

The greatest obstacle facing women who receive a sudden inheritance is a lack of preparation. Regardless of investing sophistication, a woman can find herself thrust into a realm where financial decisions affect not only the rest of her life, but also the lives of future generations.

CAREER CHANGE

While moving from one life path to another may certainly have exciting and fulfilling advantages, it is helpful to understand both the benefits and drawbacks of this transition. 

VITAL QUESTIONS

Will the new opportunity support or enhance my current standard of living?

What investment or financing is necessary to launch a new business?

What is the worst possible outcome if plans do not work as envisioned?

Is there an exit plan or fall- back strategy?

A trusted advisor/coach can be invaluable during this exploratory process.

FAMILY

There comes a time for many when maintaining a home becomes too great a burden. Health issues or the need for physical assistance can increase reasons to consider a transition to some type of continuing care residence.

More than two-thirds of Americans over the age of 85 are women. With advancing age, disabilities are more prevalent, and the need for long-term care services increases. Among people over the age of 75, women are 60% more likely than men to need help with 1 or more of daily living activities.1

Lastly, there are many women who are part of the sandwich generation—that is, those who have a parent age 65 or older and are either raising a young child or financially supporting a grown child. About 1-in-7 middle aged adults are providing financial support to both an aging parent and a child.2

A skilled wealth advisor can serve as the needed decision partner by shedding light on complex financial issues before proceeding with any of these family and home transitions.

 

1 Houser, Ari. "Women & Long-Term Care." AARP Public Policy, 2007.

2 Parker, K. and Patten, E. (2013) The Sandwich Generation Rising Financial Burdens for Middle-Aged Americans.
http://www.pewsocialtrends.org/2013/01/30/the-sandwich-generation/

 

Amy Colton, MBA

MANAGING DIRECTOR OF
WOMEN IN CONFIDENCE | WEALTH ADVISOR

Email  women@forefrontwp.com 

Phone  512-617-1984 ext. 102

Christine, Forefront Wealth Partners

Christine Engler

PARTNER | WEALTH ADVISOR

Email women@forefrontwp.com 

Phone 512-617-1984 ext. 103

 

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