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February 25, 2016 By Heidi Blondin

Women and Wealth – Get in the Driver’s Seat

women and wealth empowerment, manage finances, assetsDid you know that 90% of women* will be left to solely manage their finances at some point in their life due to divorce, death, or by choice? So, it’s critical that women are informed and feel empowered to make financial decisions that affect their future.

A common theme I have found while working with female clients is that they lack necessary information, they don’t know where to start, and they often rely on their partner to ‘manage things’.

As investors, women tend to be better savers, are often more risk averse, and are more focused on the long term. These characteristics make women great investors, especially when equipped with sound financial advice.

Here are three key steps to get you into the driver’s seat to help build your wealth.

3 Steps for Women and Wealth

Develop a Financial Roadmap

Women have unique financial challenges including living longer, retiring earlier, insuring less and caring for family members. When planning for their future, they need to establish clear goals and strategies. However, the demands and income fluctuation of women in business may make it difficult to stay on track. Having a Financial Advisor on your team can help you maintain discipline and feel more confident about your financial direction.

Review your Direction – (but not too often)

Keeping your long-term goals in mind, it’s important to be realistic about your expectations and to revisit your strategies at least annually to adjust for ongoing changes in your situation. A Financial Advisor won’t magically make your debt disappear, or guarantee outstanding performance on your investments. But they can provide ongoing support and guidance, so you can remain focused on your goals throughout your life.

It’s also important to monitor your household income and spending regularly, to keep on track. However, watching your investments too closely can cause you to shift your assets into more conservative funds. This may have an adverse effect on your long-term growth potential.

Diversify and Stay the course during turbulent times

When you establish an investment mix or asset allocation that suits your risk tolerance and time horizon, you should stick with it. You may have a tendency to second-guess your allocation. Your portfolio should include a well-diversified mix of investments that won’t keep you awake at night.

Heidi Blondin is passionate about educating and empowering professional women to take control of their finances and build wealth. Contact Heidi to get started.

* Source: Statistics Canada: Women in Canada (2011)
Mutual Fund provided through FundEX Investments Inc.

This article was published in the Kingston Women Mean Business Magazine in November 2015.

Related Links:

Women and Wealth Workshops

Filed Under: Saving Money Tagged With: Belleville, Canadian, Certified Financial Planner, Financial Planning, Financial Services, financial tips, Kingston, Ontario, Retirement Income, Retirement Planning, Savings, tips, wealth, women

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Dear Heidi,
I’d like to take this opportunity to thank you for providing exceptional service. You have guided my financial direction since 2007 and have tailored a plan to suit my budget and goals. Your knowledge, professionalism, and honest approach have allowed me to relax and trust that you have my best interests in hand.
It’s obvious that you are passionate about helping others and as a result I have a great deal of confidence knowing that you are helping me plan for my future.

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A.F. - Kingston, Ontario

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Heidi Blondin Financial Inc.
100-785 Midpark Drive
Kingston, ON K7M 7G3
(613) 887-2726

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Mutual funds provided through FundEX Investments Inc.