For all you naughty girls who missed our first LLab with Michelle Brassell at Citi Smith Barney, here are some important take away points regarding women and finance...
Action Step # 1 - Create a Support Network
- Forge relationships with a trusted and objective network of professionals to help you sort through decisions you have to make.
- The three main people being an Attorney, an Accountant, and an Advisor/Mentor/Guru of some kind, who can give you an objective perspective when making important decisions.
Action Step # 2 - Get Organized
- Know what you have and where you can find it.
- Make a list of items, where to find them, and who to contact regarding them.
- Get a fire safe deposit box to hold all of your important documents and belongings.
- If you're paperwork is all over the place, now is a great time to do some spring cleaning and organizing!!
Action Step # 3 - Set Your Goals
- Take stock of where you are today
- Figure out what you need for tomorrow
- Calculate your net worth
- Figure out your cash flow
Action Step # 4 - Invest Wisely
- Feel out and define your personal risk tolerance. i.e. How much volatility you can stomach
- Asset Allocation
- Rebalancing according to life changes
- Be completely comfortable with and trust your financial advisor...after all, they are handling YOUR money!
Action Step # 5 Consider the Unexpected
- Things can change overnight and put you and your family's welfare and finances at risk
- Try to plan for the "Just in case..."
- Always have an accessible emergency fund
Action Step # 6 - Stay informed and Engaged
- Visit womenandco.com
- Audio Conferences
- Newsletters
- Articles
SO there it is ladies! Be sure to tune in for our next LLab in May, and keep the knowledge flowing!
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1 comment:
Thanks for these handy notes. Much appreciated and heard!
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