Women and their FinancesTaking Charge of Your Financial Future

Presented by Janet Barr CFS, MS, ChFC, CLU

Charting a Financial Course

Today, it's critical that women know

how to SAVE, INVEST, and

PLAN for their future

Reasons for Optimism

Women today have never been in a

better position to achieve financial

security

Women represent almost half the workforce

Percentage of household income earned by women steadily increasing

Women-owned businesses growing Women earn the majority of all

bachelor's, master's, and doctoral degrees

Economic clout growing

Source: U.S. Department of Labor, Bureau of Labor Statistics, Women in the Labor Force: A Databook, 2011; National Women’s Business Council, Women-Owned Firms in the U.S., January 2012; U.S. National Center for Education Statistics, Digest of Education Statistics, 2012

Potential Financial Challenges

Women often face financial

challenges that their male counterparts

don't

Women have longer life expectancies

Women generally earn less income and have less savings

Women are more likely to take career breaks for caregiving

Women often invest too conservatively

Source: National Vital Statistics Report, Volume 61, Number 6, October 2012;U.S. Government Accountability Office, Retirement Security: Women Still Face Challenges, July 2012; U.S. Department of Labor, Women and Retirement Savings, October 2008

Women Have Longer Life Expectancies

Women live an average of 4.9 years longer than men

Retirement dollars will need to stretch further

More likely to need long-term care and face some health-care needs alone

Married women likely to have sole responsibility for financial decisions and disposition of marital estateSource: National Vital Statistics Report, Volume 61, Number 6, October 2012

Women Generally Earn Less

Women who work full-time earn 81%--on average--of what men earn

Impacts savings, Social Security retirement benefits, and pensions

Increased vulnerability to unexpected economic obstacles: job loss, divorce, single parenthood, illness, loss of spouse

Source: U.S. Department of Labor, Bureau of Labor Statistics, Women in the Labor Force: A Databook, 2011

Women More Likely to Take Career Breaks for Caregiving

Lost income and employer benefits

Potentially lower Social Security retirement benefit

Economic vulnerability in event of divorce, spouse's job loss

Possible difficulty finding a comparable job

Flexible schedules can impact salary and career advancement

No One-Size-Fits-All

Not all women will face all of these

challenges, but it's important to

move forward financially with them

in mind

Take Charge of Your Financial Future

1. Take control of your money2. Become a more knowledgeable

investor3. Advocate for yourself in the

workplace4. Plan for retirement5. Protect your income and assets6. Create an estate plan

Working with a Financial Professional

Help you see big picture Create a financial plan Choose investment options for

short- and long-term needs Monitor plan and adjust as

needed Keep you up-to-date on new

legislation and tax changes Answer questions

What Financial Course Will You Chart?

It's all about you. Your goals. Your dreams.

Disclaimer

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly. The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal advisor. LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.