As many as 90% of women will be solely responsible for their finances at some point in their life. 51%, or $14 trillion, of personal wealth is now controlled by women, and expected to grow to about $22 trillion but the end of 2020.

Over the decades, we have heard from so many people, especially women, they want to have a greater understanding and sense of control over managing their money including investment management, tax planning, retirement, and estate planning but don’t know where to begin the learning process. Many had relied on someone else in the family to make important financial decisions and now are forced to be in the decision-maker role on their own. 

Knowledge leads to a sense of control and optimism that can reduce stress. Ongoing stress about money is linked to migraines, heart disease, diabetes, sleep problems, and more. To some, learning about the key components of comprehensive financial planning sounds daunting…..and dare I say, boring. Believe it or not, neither is correct. Mostly, it is money that provides the foundation to our quality of life. We all know quality of life isn’t measured by money, however, we know having a secure financial path ahead of us can provide us with choices and opportunities we wouldn’t have access to without it.

Women, Wealth and Purpose starts with envisioning the future you wish to live.  What is important to you? What do you value and hold dear as your purpose in life? Do you wish to make your mark on the world with your efforts with a particular charity? Would that require your time alone or is money part of your planned support? Many tell me they never want to be a burden to anyone for as long as they live.  Is that you, too?  Is it important for you to give to our future generation by volunteering as a Reading Tutor at the local elementary school? Are you planning on helping your children or grandchildren with education expenses? Do you wish to leave a legacy to your family at your death? What about that extended vacation with your family when your granddaughter graduates? Does your car need replacing soon?  

For those important issues in your life both the grand and mundane, that require money, if you can imagine a clear picture of what you want that to look like, what each vision or need would cost and have a prioritization of them in mind, a concrete financial path or plan can be created. What you will find is a great sense of accomplishment and dare I say, joy, when you know you are working toward fulfilling your life dreams many that touch not only you but your loved ones.

With so many moving parts, having a basic understanding of each money concept independently and how they integrate with each other allows an effective and actionable comprehensive personal financial plan to be designed. For example, decisions around retirement planning have a direct link to taxes. Planning for education for a child may have a relationship with planning for retirement and again, taxes. Fewer mistakes are made and more money-making and saving opportunities are identified and taken advantage of.


Quoting Steven Covey, “Begin with the end in mind”. Now that you have your various goals clearly in mind, prioritized and quantified, you have your “end” in view.  But, where does this journey begin?

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