Empowering Women is About More Than Financial Knowledge
Women earn, spend, budget, and plan household finances but sometimes long term financial planning requires information and knowledge outside of a woman’s current area of expertise. According to a survey from the Pew Research Center, regardless of whether men or women think they make the majority of financial decisions, women in a relationship have the final say on large financial decisions. However, when asked about their financial literacy, a majority of women who earn more than their partners say they don’t have sufficient financial planning knowledge, according to Financial Advisor magazine. Another survey found women scored worse than men when asked questions about “retirement planning, medical and long-term care, life insurance, investing, and retirement income planning and strategies.”
At Marshall Financial Group, we believe that all of our clients should have the knowledge to not only understand their current financial situation, but be able to appropriately plan for the future. Because of this potential for a knowledge gap between men and women, we have started a new initiative, Empowering Women Through Transition.
Our Director of Financial Planning and Senior Financial Planner Sheryl Parks began envisioning Empowering Women a few years ago. As a college professor and personal financial advisor, Sheryl has worked with many people over the years in virtually every stage of life. “I know how important it is to create a plan for both your personal and financial future, but life does not always follow this plan,” she says. She designed Empowering Women with the idea that women could enhance their knowledge of financial planning and also make connections with other women.
Financial well-being also goes beyond just understanding how investments work. We hope that Empowering Women will help women live a life rich in happiness, health, relationships, and wealth. This initiative seeks to improve the lives of women through education, the development of meaningful relationships, and opportunities for personal enrichment.
While women make many of the financial decisions within a household, even basic knowledge doesn’t take into consideration some of the specific changes and challenges that women might face, like children leaving for college, divorce or separation, or the death of a spouse. “Our goal is to show you how to turn these events into an opportunity to create the life of your dreams while forging bonds with other women,” says Sheryl.
One part of Empowering Women Through Transition is a monthly Second Saturday Divorce Workshop, where Sheryl and other experts give an overview of the financial, legal, and emotional implications and impacts of divorce. The program is designed for anyone in any stage of separation or divorce.
Beginning in March 2021, Marshall Financial Group will also be hosting regular Empowering Women events, where women can connect and learn about finances, happiness, wellness, and relationships. Follow us on Facebook to stay up to date.
Marshall Financial Group is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.