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In just a few decades, women have become a financial force with significant impact. Increasing numbers of women have high-paying careers, lead the direction of major corporations, and generally run their own household. Additionally, women statistically out-live their spouses. Losing a spouse is heart-wrenching, and in a family where the husband previously managed the household finances, a widow might need to quickly take control of family investments. Without advance planning, this transition can worsen an already stressful situation and lead to costly errors. Families can prepare together for this eventuality by ensuring that both spouses are involved in managing family finances. However, research shows us that many women are not as involved in their financial preparations as they should be.
Likewise, divorce is a painful transition for a family to endure and switching from a dual-income to a single-income household brings many financial challenges. Post-divorce, women also face an additional challenge: after divorce, a typical woman experiences a 73% drop in her standard of living largely due to the fact that women more frequently raise children alone and take on the time-consuming, financial obligation.
Whether women are preparing for retirement, leaving a marriage, growing or selling a business, sending kids to college, or coping with widowhood – they have choices to make about how their money will get them where they want to go. At ILG Private Wealth, we recognize the particular challenges women face in investing and managing their financial lives. Like the perfectly coordinated fashion ensemble, the ILG Private Wealth Stylist Program designs, implements and regularly reviews a coordinated plan of strategies and products specifically tailored to provide women with confidence in every stage of life. Let ILG Private Wealth be your Wealth Stylist℠
No one ever enters into a marriage expecting that it will end. A divorce can be one of the most challenging things to go through, and can often negatively impact the finances of both parties. However, with some careful preparation and research, we can work towards safeguarding your financial future in this new phase of life.