|
|
: While we've focused many of our newsletters on the market at large, we've decided to direct this month's thoughts towards women. Women face unique challenges when planning for their future. This month's article touches on some of the obstacles they will need to overcome in order to have a successful retirement. Don't forget that you can also keep up-to-date with our activities by becoming a "friend" on our Facebook page or by following us on Twitter. |
|
Women & Retirement Planning
Having been raised
primarily by my mother, I've witnessed the many challenges that women can face
when planning their finances. Whether
it's raising a child and working full-time (or multiple jobs), coping with
financial distress after a divorce, earning less than their male counter parts,
or planning for a longer retirement, women often find themselves playing
catch-up.
Although equal pay
has been the law since 1963, women are still paid less than men - even with
similar education, skills, and experience.
The U.S. Census Bureau estimates that women are paid only 77 cents for
every dollar a man was paid. Economist
Evelyn Murphy, president and founder of The WAGE Project, believes the wage gap
costs the average full-time U.S. woman worker between $700,000 and $2 million
over the course of her work life*. Worse
yet, this doesn't factor in reduced pension and Social Security benefits during
retirement.
Retirement is one area where you really need to be first in line. Since
many women will spend upwards of 25 years in retirement,** it's important to
attain the retirement lifestyle you envision and that you've worked so hard to
achieve. It's also crucial to ensure your income will last throughout your
years in retirement.
In my
practice, I've found that women tend to be more engaged in their finances. Women tend to ask more frequent and better
questions than men. They're also more
likely to take notes. The flip side to
their insightfulness during our meetings is that they are often the least
prepared in advance of our appointments.
As you can see, it
is crucial that you act as soon as possible to prepare yourself for the future. You're likely to have lived a life full of
challenges and risen to the occasion to overcome those obstacles. When it comes time to prepare yourself for
your years after work, make sure you once again rise to the occasion.
*Statistics provided by the Older
Women's League at www.owl-national.org and the National Committee on Pay Equity,
2008.
** U.S. Department of Health and Human Services: Center for Disease Control
and Prevention (CDC): Health, United States
2008; Table 26: Life expectancy at birth, at 65 and 75 years of age by race
and sex.
|
| Monthly Conference Call
On January 12th, we launched our free Monthly Education Teleconference Series. These events will take place on the 2nd Tuesday of every month throughout the year, so please stay tuned for upcoming announcements.
Our next webinar "Real Estate Investing" will be held on Tuesday, March 9th from 12:00pm - 1:00pm (EST). If you are interested in registering for the webinar, please call Loury Davis at 410-732-2637 or email loury.davis@lpl.com to reserve your space today.
By the way, these free monthly calls are not just for clients, they are designed to help anyone trying to better their financial situation. If you have someone in mind that could benefit from one of our calls, please have them contact Loury. |
LGBT Free Dinner Seminar
Retirement for Domestic Partners - It's All About Having Choices! Are you Prepared to Make the Right Ones? This seminar has been designed to help you make intelligent, informed decisions about your retirement options. Wealth Management Dinner Seminar
Date: Tuesday, March 23rd at 7:00 PM
Where: The Waterfront Hotel (private 2nd floor dining room)
1710 Thames Street, Baltimore, MD 21231 (Fells Point)
Plenty of parking available.
RSVP: Please call Loury Davis at (410) 732-2633 today for a reservation. Don't miss the opportunity! You must RSVP in order to confirm your reservation.
* Stay tuned for details on our Washington, DC and Northern Virginia Free Dinner Seminars in April.
|
Office News 
We recently added a new state to the list of states where we can work with clients. If someone you know lives in Indiana (or one of the other states in which we do business), and you know they would like to speak with a financial advisor, please forward this newsletter and our contact information to them. You may also contact our office with their information. We'll be happy to speak with anyone you refer to us!
|
On the Home Front 
I participated in Equality Maryland's Lobby Day this past month. It was my
second visit to Annapolis in support of LGBT rights in the past three
years. We're fortunate to live in a progressive district and I was
glad to see so many others visiting their district representatives.
Having
been a government and politics major in college, I've always been
fascinated by the legislative process. Writing, calling, and visiting
your elected officials is a great way for them to understand what their
constituents are thinking. Visiting them in a group of twenty or so
sends an even stronger message.
And we thought we had a lot of snow in December! February's snow fall more than doubled what we saw at the end of 2009. While the dogs had a blast, Heidi and I are ready for Spring!
|
|
I hope you enjoyed this month's newsletter.
Best Wishes,
Woody Derricks
President
Phone: 410-732-2633
Toll Free: 877-807-2633
Fax: 410-732-2634
| |
|
|
|
Follow Us on
Facebook, LinkedIn, & Twitter:
|
Please note our new mailing address:
1819 Thames Street
Baltimore, MD 21231
|
|
|
Available by Appointment in Alexandria & DC.
Woody Derricks is also registered to discuss and transact securities business in:
AK, CA, CT, DC, DE, FL, IN, MD, NJ, NV, NY, PA, RI, TX, VA, and VT. |
|
|
|
|
|
