At Argent Bridge Advisors, we recognize that women often face unique financial challenges and opportunities. Whether you’re building your financial foundation, fine-tuning your strategy, or already enjoying retirement, we’re here to provide guidance every step of the way. Here are five financial strategies to help you feel confident in the future you’re creating.
1. Build an Emergency Fund
Life can be unpredictable, and it’s essential to have a safety net. Building an emergency fund with six to twelve months of living expenses ensures you’re prepared for the unexpected—whether it’s job loss, medical costs, or an unforeseen event. Having cash on hand means you avoid relying on credit cards or early withdrawals from your retirement account, saving you from unnecessary fees, interest, taxes and penalties. It’s one of the best steps you can take to feel secure in any situation.
2. Protect Your Assets
A solid financial strategy includes more than just saving—it’s about protecting what you’ve built. Having the right insurance coverage is key. While workplace coverage may provide some protection, it’s worth evaluating additional options to ensure you’re fully covered. This can include having the proper life, long-term care, dwelling, health, auto and umbrella insurance. The right insurance strategy can prevent major financial setbacks down the road, offering peace of mind for both today and the future.
3. Never Stop Learning
Even if you’re working with a trusted financial professional, it’s important to stay engaged with your financial journey. As a woman, you may face unique challenges like wage gaps, time out of the workforce, and longer life expectancy. The more you understand, the better equipped you’ll be to make informed decisions and adapt your strategy to life’s changes.
4. Consider Investing Differently
Women tend to live longer than men, which means you may need to plan for more years in retirement. It’s crucial to work with your financial team to develop long-term investment strategies tailored to your specific needs and goals. A thoughtful approach to investing today can help secure the financial freedom you deserve tomorrow.
5. Prepare Your Legacy
Planning your legacy doesn’t have to be daunting—it’s about ensuring your financial wishes are in place and that you’re prepared for whatever comes next. This includes keeping beneficiaries updated, making decisions about extended care, and ensuring your estate is set up to leave a lasting impact on your loved ones. This includes having the proper will, medical directives, powers of attorney, etc. Starting these conversations and consultations now can provide peace of mind for you and your family in the years ahead.
If you’re navigating a divorce, working with a Certified Divorce Financial Analyst® (CDFA®) Professional is invaluable. A CDFA® professional focuses on the financial complexities of divorce, helping you understand the impact of asset division, tax strategies, retirement planning, and more. They ensure your financial decisions align with your long-term goals, giving you the clarity and confidence to move forward.
At Argent Bridge 2 Divorce, we specialize in supporting women through the complexities of divorce with our team of CDFA® professionals. We understand the emotional and financial challenges that come with this transition, and we are here to provide guidance every step of the way. Our team works closely with women to help them navigate financial decisions, protect their assets, and plan for a secure future post-divorce. With a comprehensive strategy in place, we empower our clients to move confidently into their next chapter, focused on both life and financial well-being.
Jamie S. Blum CPA®, CDFA®
Director, Divorce Financial Planning and Litigation Support
