Money Monday: Financial solutions for Women-unique challenges - Fox 2 News Headlines

Money Monday: Financial solutions for Women-unique challenges

Posted: Updated:
Damon R. Dyas, CFP, CLU, CRPC Financial Advisor, Certified Financial Planner with Ameriprise Financial Services, Inc.talks about the unique challenges facing women and how they can maximize their financial portfolio.

Financial  solutions for Women-unique challenges:
               
Lower wages
Fewer assets saved
Usually live longer
In and out of work due to care giver responsibilities
In many cases Mr. handled the finances

Damon advises :

 - Establish a Spousal IRA to help save for retirement (A way to save even if you are not working i.e. stay at home mom or caring for aging relative)
 - Make ongoing financial education a must and if married attend financial meetings with your spouse (create a budget, have clear goals, be a knowledgeable investor, seek professional advise when needed)
 - Research average wages between men and women in your field (Women on average earn 81% of what men earn-understand the implications of this)
 - Turn a hobby or educational and work experience into a business (consulting, hairdresser, nails, etc)
 - Have a strategy to handle potential long term care cost.

Ameriprise Financial Services, Inc.
26777 Central Park Boulevard, Suite 350
Southfield, MI 48076
O: 248.827.1230 x 283

  • MorningsMorningsMore>>

  • Farm to table recipes from Treetops Resort

    Farm to table recipes from Treetops Resort

    Tuesday, September 16 2014 11:02 AM EDT2014-09-16 15:02:14 GMT
    These recipes for grilled zucchini rolls and beer brined and blackened pork chop come courtesy of Chef Gabe Bober.
    These recipes for grilled zucchini rolls and beer brined and blackened pork chop come courtesy of Chef Gabe Bober.
  • Making the Australian dessert Pavlova

    Making the Australian dessert Pavlova

    Tuesday, September 16 2014 10:09 AM EDT2014-09-16 14:09:43 GMT
    Pavlova is an Australian dessert similar to meringue. One additional ingredient makes it a Pavlova -- vinegar.
    Pavlova is an Australian dessert similar to meringue. One additional ingredient makes it a Pavlova -- vinegar.
  • BluArch Collection celebrates Detroit street art

    BluArch Collection celebrates Detroit street art

    Tuesday, September 16 2014 8:46 AM EDT2014-09-16 12:46:46 GMT
    Fox 2 News Morning LogoFox 2 News Morning Logo
    The BlueArch Collection in Birmingham is celebrating Detroit street art with a two-week interactive event benefiting the Alley Project.
    The BlueArch Collection in Birmingham is celebrating Detroit street art with a two-week interactive event benefiting the Alley Project.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices