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Financial and Retirement Planning for Women - Retirement Daily Roundtable

Financial planning for men and women is not exactly the same. Here's what women can do to secure their financial and retirement plans.
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In today's roundtable Dana Anspach, Nancy Fellinger, and Kathy Mealey from Sensible Money sit down to discuss the differences in financial planning and retirement for women.

Bob: Is there anything different?

Dana: You know, every time this question comes up, the first thing that comes to my mind is it's very similar. I think this topic comes up a lot because in the past, there's this sense that women have been reluctant to seek advice. Maybe they feel like they don't know enough yet. So they're intimidated by coming to talk to someone.

Nancy: A number of years ago where some studies had been done, notably I believe the Boston consulting group was one of the first, but there have been a number of studies that show that somewhere between say 70%, 80% of women will change advisors upon becoming divorced or, or widowed.


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Nancy: As part of that in terms of appealing women, there, there have been a lot of there's been a lot of effort to make you know, offices more attractive to make marketing materials, more attractive. And, and one of the big things is, you know, is using a lot of pink and, and trying to make you know, materials that, that appeal to, to women, you know, flowery and, and so forth. And that's really not what women are, are looking for. You know women are, are looking for, for good advice or looking to be listened to understood. And and, and to, to have service that delivered in a, in a way that is understandable. That's kind of like what men want too.

Kathy: We work with a lot of couples and one person tends to be more the primary decision maker or handles the finances more often. And so, although we may have more meetings with that person and it tends to be the male more than the female, we encourage the females, the wives to be on the calls as well. We want to be able to build a relationship with them. So not to go into a lot of the details if they don't wanna hear it, but have them comfortable, if something comes up that they can give us a call at any time.


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