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In the 1950s, it was common for mothers to tell daughters that “marrying well” should be top priority for a woman to be financially secure. Back then, divorce wasn’t as common and women did not have as many options because of a lack of a better continuing education. Wives also gave up control of the household finances to the husbands and having a man was a woman’s financial plan.
In today’s world, women are more independent, while managing to having a great career and keeping the home. With that being stated, generally women are still not as involved in the household finances as they could be and this can ultimately harms a woman’s retirement portfolio.
Compared to the 1950s, today’s higher divorce rates reflect that the commitment of marriage has weakened. Nearly half of all first-time marriages will end up in divorce and the rate is higher with subsequent unions. For a wife who decided to “give up” financial control of the finances during marriage, and later becomes single as a result of the divorce, losing financial understanding during the marriage can later put her in a bad financial relationship with money because she may not have the skills, or knowledge, to properly handle money.
At Secure Planning Strategies, we are here to teach women how to handle money and to plan for a secure retirement. We understand that having a man is NOT a financial plan and women need to be involved in all financial aspects at every stage of the game. Women need to feel empowered to take control of household finances so they can shed the 1950s philosophy of father knows best. It doesn’t matter if you are happily married or you are in the middle of a divorce process. Let us help you so you can stand on your own. Call us today to talk about your individual situation at: (248) 827-2580 or e-mail us at: firstname.lastname@example.org.