Viking Magazine - April 2014 - 42
Finance
1. TAKE AN
ACTIVE ROLE
Get involved with money management
from the beginning, advises Julie Jason,
chief investment officer of Jackson,
Grant Investment Advisers, Inc. in Stamford,
Conn. Author of several books, including
" Managing Retirement Wealth, "
Jason doesn't mince words: " Don't take
a backseat, " she says. " It may be convenient
[to delegate to a spouse], but it
leaves you vulnerable and doesn't make
you stronger. "
Women and Money
Take the lead. Smart money management
is good for everyone, but women have
additional reasons to stay on top of
their finances.
BY CARALEE ADAMS
M
ake sound decisions with your earnings and save for
retirement; there's nothing revolutionary about this advice,
but women are often financially underprepared for inevitable life
events and transitions compared to men. Yet statistically, women
live longer than men, they earn less money than
men do and they have often taken time off to
care for their families. The result? They have more
retirement years to plan for, often including a
transition to life as single person, and fewer years
to contribute to their savings. Here are three
key points to keep in mind as you size up your
financial health and independence.
42 VIKING APRIL 2014 sonsofnorway.com
Experts advise women to be joint
partners in financial decisions and consider
their independent needs long-term.
The job of handling family finances no
longer falls solely to men. It's a paradigm
shift in family financial planning, says
Eileen O'Connor, managing principal
at Hemington Wealth Management in
Tysons, Va. " Women are taking a more
active role in the management of money
because they have to. They are generally
becoming less intimidated. "
2. ANTICIPATE
AND PLAN FOR
THE FUTURE
Making good
investment decisions
is gender neutral.
According to Eileen O'Connor, nine out
of 10 women will have to manage money
on their own at some point. While
it's hard for many married women to
imagine life on their own-as a widow,
caring for a
sick spouse or
managing after
a divorce-they
fare far better if
they plan ahead
for the possibility.
One way
women can stay
ahead of the curve financially is to anticipate
likely transitions in their life and
http://www.sonsofnorway.com
Viking Magazine - April 2014
Table of Contents for the Digital Edition of Viking Magazine - April 2014
Contents
Viking Magazine - April 2014 - Cover1
Viking Magazine - April 2014 - Cover2
Viking Magazine - April 2014 - Contents
Viking Magazine - April 2014 - 4
Viking Magazine - April 2014 - 5
Viking Magazine - April 2014 - 6
Viking Magazine - April 2014 - 7
Viking Magazine - April 2014 - 8
Viking Magazine - April 2014 - 9
Viking Magazine - April 2014 - 10
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