Planning to Thrive: A Smart Financial Roadmap for Women

Women are a growing financial force. Learn steps your female employees can take to help invest and plan towards their goals and prepare for whatever the future may hold.

 

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- [Narrator] Women in the United States

control more than ten

trillion dollars in assets,

and that is expected to

triple within the next decade.

So, let's go over some steps

you can take to invest,

plan, and prepare for

whatever the future may hold.

Investing entails risks,

but may offer potential growth over time

that cash savings cannot provide.

The key is having a goal.

Consider opportunities to invest

through your workplace retirement plan,

as well as an employee stock

purchase plan, if it's offered.

You can also manage your own investments

with a brokerage account.

Have a robo-advisor create

an automated portfolio

based on your goals,

or work with a Financial Advisor

on a tailored strategy,

virtually or in person.

While balancing life and work,

women also often take on

the bulk of caregiving.

If you're a caregiver,

have honest conversations

so that everyone's needs,

including yours, can be addressed.

You may also want to

make sure you have access

to important authorizations.

Consider looking into your

employer's family leave

and flexible work policies,

and educate yourself about Medicare

and support services in your community.

If you pause or change your

career to be a caregiver,

you don't have to put all

of your goals on hold.

For example, as long as you

have some taxable income,

you can still save for

retirement with an IRA

or save for education expenses

with a tax-advantaged account.

The death of a spouse

or an unexpected illness

can take a major financial toll.

So can divorce, especially

for women over 50.

Be engaged in your family's finances,

especially when it comes to decisions

that may affect your future.

Keep track of accounts and passwords.

And don't overlook estate planning.

It's not just for the

elderly or super wealthy.

Establish your beneficiaries

and create or update a will

that lays out where your

hard-earned assets will go.

In the event of a major life change,

it may be helpful to consult

knowledgeable professionals

like a financial advisor before

you make any sudden moves.

When it comes to planning

and investing for tomorrow,

you're not in it alone.

At Morgan Stanley at Work,

we offer solutions and support

to help you create financial plans

that can help you achieve your life goals.

Let's get started.