Texas women who have sizeable and not so sizeable estates are at times confused about the action to take in preserving financial security especially when giving care to our elders. We have a huge tendency to put others first, before our own needs. While this is good for our heart, it can hurt our bank account.
More and more women today are independent and want to remain that way. That's why it's important to safeguard our earnings and savings while we are entrenched in caregiving.
Some pointers that can provide women in Austin, Houston, Dallas and San Antonio some direction:
1. Take action so that what you have earned and saved stays!
2. Failure to take care of what we have is very costly to our retirement.
3. Doing nothing should be avoided at all costs.
4. The markets, taxes, and changing legislation could erode the value of an estate while you procrastinate.
5. Financial matters don't need to be confusing.
6. Only do business with financial professionals who help you understand financial options - not complicate or uses jargon, if you cannot follow what is advised, get another professional who can
Texas women needs to insure is that:
You have adequate income for your personal needs, which means - put on paper a list of monthly expenses. With this list, you now can easily determine how much of your savings are required for income
Remaining investments can be allocated to growth in your estate
Confide in someone you trust and show your total situation - statements and bank accounts and insurance policies. Seeing the whole picture is a good place to start when asking for advice
The last piece of advice was important to me. I cannot tell you how many financial advisors I've lived through who do not follow up. I found one recently who is offering me more solid and quality options for my future. In addition to that, he really understands the boomer mkt and where we are all headed. Visit our Texas Elder Care Directory and search for our Fianancial Services and Money Matters, John Berlet, CEO of Boomers Advisory Group for more information.
