I am witnessing dramatic shifts in my industry and my advisory role due to women’s rapidly evolving relationship to personal finance.
According to Pew Research Center, women now outnumber men in the U.S. college-educated labor force. This tells me that women strive to be educated, are motivated to earn degrees so that they can build careers and be financially independent – much more now than they did a half century ago. They now have the means and ability to seek and complete education. They are also outpacing men in postgraduate education. The gains have been swift and steady. Their role as family breadwinners has grown dramatically in recent decades. We know women are living longer than men and divorce rates are higher than ever in the US. Women also tend to be the caregivers for their parents. They are inheriting the family wealth, especially during the “great intergenerational wealth transfer” that is occurring right now.
This rapid change in a short period of time can shake up the family dynamics and many women are finding themselves in control of household finances, often for the first time, often amidst a life transition. All of this change can cause relational strife, personal stress and overwhelm.
The word empowerment is thrown around a lot especially in politics and women’s rights. I believe that every individual has the ability to empower themselves. They must first believe in the art of possibility. If you know it can happen, have motivation and intent to change, then you can take the steps so that it will happen. In order to become stronger and more confident, we must feel we have more control over our own life and that we have the ability to make decisions. “Education is the key that unlocks the golden door to freedom” – George Washington Carver
These are the steps that I believe can help women move in the direction of financial freedom. Taking these steps before life happens and they are forced to, will help women be more prepared. In just about any life circumstance or phase of wealth management, I encourage women to seek:
- AWARENESS: Being aware of the knowledge you lack is the first step.
- INTENTION: Knowing what you want to accomplish is next. Often knowing what you don’t want is just as important as knowing what you do want. So acknowledge failures, set objectives and move on in the positive direction.
- HELP: Seek financial guidance from a professional – not with the intent to let them “fix” it all, but with the intent to accept advice, tools, advocacy and accountability.
- ACTION: Take the next step and then the next. Trend towards success and review steps regularly
This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.
Women talk about wine, why don’t we talk about wealth?
This Thursday, at Topsoil Kitchen & Market in Travelers Rest, from 5:30 to 7pm we’re going to change that. Watch to learn more and scroll to the bottom to RSVP.
Women talk about wine. Why don’t we talk about wealth?
Similar to wine, with wealth, the more we talk about it the better we get at it.
We learn what we love, we learn what we’re willing to take risks on, and we find friends who share our preferences to join us on the journey.
Let’s make talking about, managing, and building wealth as fun as talking about wine.
Join Brandon Cabaniss, CFP® with Williams Wealth Management, Meredith Rigdon, Realtor® with Keller Williams Drive, and Topsoil Sommelier Lisa for Women, Wine, and Wealth, Thursday, November 17 from 5:30 to 7pm.
Lisa will delight you as you sample wines and graze charcuterie boards.
Brandon and Meredith will ease your mind and excite you as they demystify wealth from a woman’s perspective. You’ll learn wealth is more than dollars and cents, just like wine is more than grapes and tannins.
This exclusive event has limited space, so grab your best girlfriends and join us for an evening expanding your palate in ways that will benefit your future.
Stay for dinner after the event and receive 10% off your meal courtesy of Topsoil. Special event price of $30 covers wine tasting and charcuterie boards and is sponsored by Williams Wealth Management and Keller Williams Drive’s Meredith Rigdon.