Continuing to Empower Women!

By Andrea Young on October 4, 2022

by Kristine Porcaro

Since 2017 we’ve been empowering women in various aspects of their lives, and we aren’t stopping! Over the past few years, we’ve had talks in the areas of finance, health and wellness, aging loved ones, college planning and more!

The goal of this series is for our ladies to come to a welcoming setting where they can ask the questions they never asked. Take charge of your financial life. Be empowered. No question is a stupid question, and we’ll answer in the simplest way we can. No jargon, I promise.

We often see women enter the office and not engage in financial discussions or feel stupid about the questions they may want to ask. Who’s anyone to judge, and if they do, do you really want to be around them? I’d say no! It only has to start with being open and honest and making sure you get the information you need. We are continuously updating our website with new events and resources, so be sure to check in regularly. To learn more,visit Empower-Women.com. We hope you will join us.

Be the Boss of Your Money

Knowledge is power. Whether you control the family finances or you’re just getting involved, whether you have lots of experience or you’re used to someone else taking care of the purse strings. Take charge and ask questions if you need answers.

Feelings about wealth drive many of the choices you make. You’re often forced to make your most difficult financial decisions during periods of great stress. Lexington Wealth Management can help get those answers for you. We’ve spent years building relationships with nationally recognized specialists who both train and coach us to help you through the emotional aspects of financial decision-making.

Money has long been a subject whispered about in secret, often with great discomfort. We believe in breaking this taboo. There is no such thing as a stupid question. So, ask away, jump in and master it – or leave it to us. It’s up to you. Either way, we’ll talk to you clearly, openly, and respectfully.

Money as a Life Changer

Inheriting money? Getting divorced? Caring for a relative? Events beyond your control often have a financial impact. Don’t let feelings get in way of finances…or vice versa. Talk it out and find solutions that work for you. We’re here to help.

If you own a business, we know about juggling it all. We understand the stresses. And we have your back – with honesty, understanding, objectivity, compassion, and experience.

Did you Know…

1) The average life expectancy for women is 81 years, compared to 73 years for men. (The Social Security Administration)

2) The average age of widowhood is 55 years old. (US Census Bureau)

3) Women are more likely than men to be single parents. (U.S. Census Bureau, “American Community Survey, 2008,” Tables B11001, B11002, B11005, and B11013)

4) Nearly half of women (44 percent) expect to retire at age 70 or older – including 19 percent of those who “do not plan to retire.” (Transamerica Center for Retirement Studies)

5) The median earnings for all women are $638 a week, compared to $798 for men – approximately 80 percent of what men earn on average. (The Bureau of Labor Statistics)

6) The average woman spends 15% of her working years outside of the workforce caring for children and elderly parents compared to the average man’s 1.6%. (Women’s Institute for a Secure Retirement and National Center for Women’s Retirement Research)

7) Nearly two-thirds of US women ages 40 to 79 have already dealt with a major financial “life crisis,” such as job loss, divorce, the death of a spouse, or serious illness. (AARP, “Understanding Women’s Financial Needs and Behavior,” 2007 survey)

8) In 80% of the nation’s households women are the primary decision-makers regarding purchases. (PeopleSupport, as cited on www.womanmotorist.com)

9) 80-90% of women will be solely responsible for their finances at some point in their lives – mainly due to divorce and the fact that on average women outlive men by seven years. (National Center for Women and retirement research)

10) Even though women have longer life expectancies, when asked how much they were aiming for in retirement savings, women aimed lower, with a median goal of $200,000 versus $400,000 for men. (Retirement Fitness Survey 2010)

11) Fewer than 2 in 10 women feel “very prepared” to make wise financial decisions. Half indicate that they “need some help,” and one-third feel that they “need a lot of help.” (Financial Experience & Behaviors Among Women 2010−2011 Prudential Research Study)

12) Social Security provides over half of women’s income over the age of 65, 67% to be exact. (Social Security: Especially Vital to Women- IWPR analysis of the 2010 Current Population Survey Annual Social and Economic Supplement)

13) The number of middle and upper-income women struggling with debt has risen faster than the number of lower-income women struggling with debt. (Women, Debt and Recession, CareOne Debt Relief Services)

14) Women are afraid that success will alienate them. ( 2013 Allianz Women, Money, and Power Study)

As always Lexington is here to help in any way we can. Money can be emotional and we do our best to connect the head and the heart of wealth management. Man or woman, please don’t hesitate to ask.

HighTower Advisors, LLC is a SEC registered investment advisor