At the most basic level, business transition planning is a strategy that can be put into play when a business is sold or changes hands. For company owners nearing retirement, a successful transition plan can play an important part in creating and preserving the value of the business after it has changed hands.
Atlanta Financial Blog
Studies Suggest Womens’ Lack of Financial Confidence Is Affecting Their Investments. Here Are 5 Ways to Financially Empower Yourself (Or a Woman in Your Life)
A recent study found a universal gender gap in financial literacy between men and women. However, while women reported not knowing the answers to more financial questions than men, this wasn’t solely due to a lack of financial knowledge. Rather, it came from a lack of confidence in financial decision-making.1 Follow these five tips to boost your confidence and financially empower yourself or the women in your life.
#1: Set Smart Goals
Don’t limit yourself. Set some short-term goals that you can actively measure and achieve in a reasonable amount of time. These goals can be the stepping stones for your financial future and bigger long-term achievements. Progressing through your goals can be an important component of building your financial confidence over time.
#2: Build a Budget
Creating a budget is the best way to know exactly where your money is going and avoid surprises. If you find yourself stressed out about managing your money, setting and sticking to a budget could help. Over time, seeing your money spent intentionally can help build feelings of financial confidence and reassurance.
Studies show that because they are less confident when it comes to money, women are less likely to invest in stocks.1 Unfortunately, being reluctant to invest in stocks or stock-based mutual funds can truly put women at a disadvantage. When planning ahead for retirement, investing in a diversified portfolio is often a key component of any comprehensive, long-term strategy. Choosing investments likely to grow and keep pace with or exceed inflation is especially important for women, who generally have longer life expectancies than men.
If you aren’t working with an advisor already, search for a financial professional who can support and guide you in developing a portfolio and creating a solid financial plan. Doing so can help increase your level of comfort with investments and improve your ability to make investment decisions on your own.
#4: Don’t Be Afraid to Ask and Answer Questions
It’s easy to feel insecure about not knowing all the answers. Asking questions and learning from the answers is an important component of increasing your knowledge base and growing your financial confidence.
When you’re more comfortable, pay it forward by answering questions for others too. This is in the hopes that, eventually, asking questions about money doesn’t feel wrong or taboo. If you have young children, especially daughters, take the time to teach them about financial decision-making and encourage them to ask questions as well.
#5: Advocate on Behalf of All Women
No matter your gender, you can use your voice to advocate for women’s financial equality, security and confidence. Speak up when you can, and encourage other women to speak up as well. Creating meaningful conversations can help identify similar pain points amongst your peers, get your concerns addressed and develop a space safe to grow your financial knowledge and confidence.
It’s okay to strive for balance rather than perfection when it comes to your financial life. Make sure that you’re doing the best for yourself. Don’t let the fear of failure or lack of confidence hold you back from taking control of your financial life and achieving your biggest goals. And if you are seeking a professional to guide you in your financial life, please remember that we are here to help!
This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Please Note: Atlanta Financial is a tradename. All services provided by Atlanta Financial investment professionals are provided in their individual capacities as investment adviser representatives of Mercer Global Advisors Inc. (“Mercer Advisors”), an SEC-registered investment adviser principally located in Denver, Colorado, with various branch offices throughout the United States doing business under different tradenames, including Atlanta Financial. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.
The travel industry has begun to see growing demand as we move closer to summer. However, not all travel will be the same, as much of the demand is directly related to the COVID-19 vaccine and reduced CDC restrictions. Instead, industry trends have emerged based on individual comfort levels as they apply to different modes of travel.
Below we will explore some of the factors that have contributed to an increase in travel and how different industries are responding to it.
Following a year of economic instability, it appears that many of us are turning our attention to something that’s been around for decades, but has recently piqued national interest – inflation. In fact, a recent study found that people are Googling the word “inflation” at a rapid rate, with a peak not seen since 2010…
As mothers, sisters and daughters, women are often counted on to be caregivers for family members in need. Whether it’s something as small as a cold or as debilitating as a terminal illness, women are typically the ones to care for and help out when a loved one is sick. But what happens when the caregiver is in need of her own care? Too many women are stuck facing this dilemma head on, instead of preparing for it while there’s still plenty of options, resources and time ahead. Below are a few reasons why it’s so important for women to plan for their own long-term care strategies now.