Financial Independence for Professional Women

You've worked hard for your success, and it shows. Now that you have achieved a stable financial position, isn't it time to start thinking about financial planning? No matter which career you pursue, a financial plan can add value to existing wealth. Here, we will talk about a few strategies to help you to create a financial plan for financial independence, retirement and other goals.  

In the last decade, US women have earned 61% of associate degrees, 57% of bachelor's degrees, 59% of master's degrees, and 53% of doctorates. However, men still earn more for comparable jobs. So, it's more important than ever for women to take a proactive stance about their financial planning.

Despite earning less, women handle up to $10 trillion of household financial assets. This is likely to reach $30 trillion within three or four years. That's a clear indication that women have a huge impact on the economy. To make their economic power stretch even further, it's important for women to make the right decisions about their financial future.

Things To Consider

Things To Consider

When you plan your finances, the earlier you start, the more it can pay off. When you are planning, just remember that it's not only about saving for retirement but also about treating yourself well during your working years. Here are a few things you should keep in mind while taking advice from financial planners:

  • Don't forget about your health care costs 
  • Keep a different budget for travel.  
  • Focus on paying off debts and your mortgage.  
  • Prioritize your liabilities and responsibilities.  
  • Invest wisely and study risks carefully.  
  • Pay taxes on time and implement strategies to reduce your taxes. 

Women's Retirement Roadmap

When it comes to planning for retirement, these are the things you should keep in mind:  

  • The earlier you plan, the more you should be able save.  
  • Buy a home and pay off the mortgage before you retire.  
  • Consider claiming Social Security at the right time; it can be reduced up to 30% if you take early retirement.  
  • If you own a business, put a succession plan in place so that you can retire when you're ready. 
  • Create a budget for your regular expenses and include money for an emergency fund. 

What Are the Three Types of Investors?

The three types of investors are pre-investors, passive investors, and active investors:  

  • A pre-investor is thinking about investing but hasn't invested yet. If this is you, you need to meet with one of our financial planners as soon as possible to get started.  
  • Passive investors put their money into mutual funds and other investment options that don't require their ongoing attention. They don't want to think too much about their money but also need to know that it's safe and productive.  
  • Active investors create value from revenue streams by proactively potentially maximizing their earning potential.  

No matter where you fall on the spectrum, we can help you pursue your financial goals by creating a financial plan and investing your money wisely.

Women Make Great Investors

Women Make Great Investors

To plan for the future and help optimize a successful career, it is essential to set up both long and short-term goals with your income and assets. Even your daily habits can have a huge effect on your finances. Here are a few tips to get a grip on your earnings and spending:  

  • Set your financial goals considering your idea of a successful career.  
  • It may sound old-fashioned, but write down your needs and budget. This practice helps to reduce unnecessary spending.  
  • Make a priority list of your needs, categorize the amount of spending, and include money for savings and investments.  
  • Review your earning, spending, and savings annually. Set further goals accordingly. 

Why Are Women Excellent Investors?

Let's face another truth, only savings and investments will preserve your wealth. It is time to invest wisely. Need some ideas? Here are different ways women are shaping the investment market:  

Let us help you become financial independent with a plan

At Atlas Wealth Strategies, we are here to support women investors, and it's important to understand that you're not alone. Our experience can give you the input you need to make and work toward meeting your financial goals, such as sending kids to college, funding your retirement, and buying a home. 

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