Losing a spouse has major financial implications – and they come precisely at a time of great emotional stress. In addition to the shock and grief, there are often medical bills and other expenses to pay. There are also many decisions to be made regarding issues such as life insurance proceeds, Social Security and the retitling of financial accounts. It’s important to have a good support group around you – and we are more than willing to be part of it. We understand the uncertainty you may be feeling, and most important, will be here for you every step of the way.
You may be afraid of outliving your savings or not having sufficient income each month to maintain your lifestyle. To add to this, you may be managing financial affairs on your own for the first time. We want you to know that we are willing to do whatever it takes to help you overcome these fears. We are here to help you address and resolve these and all issues and concerns you may have, and to sit down with you to create a clear financial plan for moving forward with your life.
Women’s careers are often paused when raising children or caring for aging parents. However, half of all American workers are women, and in more than a third of households, they are the primary wage earners.* Now that more and more women are taking greater control over their financial futures, we are proud to play an important role in guiding and advising them. Whether you’ve been comfortable making financial decisions for some time, or you’ve been forced to transition into that role alone, we are here to assist you in every aspect of your financial journey. The team at Tailored Financial Strategies of Raymond James can customize a financial strategy and plan to help address your needs and pursue your goals – and provide you with professional, proactive and personalized guidance.
* Source: Americanprogress.org labor report, 2012
While we serve women all over the country, for those in the Tampa Bay area, we host the Women Decision Makers’ Group, a quarterly event in St. Petersburg and South Tampa. These small-group events are exclusively for women and feature ever-changing formats ranging from a discussion of catalysts for recent market action, to holding a fireside chat-type of meeting with an open Q&A, or even having experts come in to host workshops on how to better utilize the functionality of your iPad. You are always invited to attend. Please contact Beth DeMarco for information regarding our upcoming events: 844.808.7924 or firstname.lastname@example.org.
An empowered woman balancing today’s needs and tomorrow’s goals
Claire has a solid career, a loving family and a lot of financial complexities that must be untangled. Most of her savings are tied to her children’s upcoming educations and her own retirement. She is balancing providing for her children with caring for her adult parents. While money can often be tight, time may be the rarest and most precious commodity. As head of the household, she knows she needs a trusted financial partner she can turn to for advice.
What we would do:
First, we would identify Claire’s needs and prioritize her goals, which would serve as a base to create a road map that shows the big picture of her life. The next step is to develop a detailed plan that demonstrates the path for pursuing her goals and addressing all the details, such as education savings accounts and benefits planning. We would help make sure that she had enough income to meet her monthly expenses, while keeping a mindful eye on long-term goals such as retirement. During this phase, we also look at her parents’ financial situation and determine how their assets can best be applied to caring for them. Focus would then shift to Claire’s monthly budget, including where she could reduce expenses and how she could then contribute more to her work’s 401(k) plan to help keep her retirement goal on track. We want to help her feel more confident about having the money she’ll need to maintain her lifestyle.
This investment profile is hypothetical and not indicative of any specific situations or clients. It is presented only as an example and not intended as investment advice.