March 8^th is International Women’s Day so there’s no better time to talk about women’s personal finance.  If financial freedom leads to stability and personal empowerment, then why is talking about money so taboo for women? 

For one thing, it’s relatively new to discuss financial literacy.  Depending on family dynamics, a lot of women didn’t have a seat at the table when it came to personal finance.  (Remember, most single women couldn’t even take out a mortgage without a co-signer until 1975!)¹.  Women are also more likely to work part-time or take career breaks which impact retirement account contributions, social security dollars, and lifetime earning potential. 

Despite these challenges, a wise strategy can give women reasons to be hopeful.  Here are a few insights to think about. 

Knowledge is Power
Get comfortable talking about money.  Whether it’s with your partner or friends (and especially your financial team), having conversations about saving and investing will ultimately make you more comfortable over time.  While you’re at it, if you have a young woman in your life, encourage her to take an active role in her financial future. 

Plan Retirement Early
When it comes to retirement, women may face unique obstacles that can make saving for retirement more challenging.  Given that women typically live longer than men, retirement money for women may need to stretch even further.² 

Get clear on your vision.
Determine your pathway to retirement and what you want to do in those years.  Do you want to spend your retired years traveling, or do you envision staying closer to home?  Are you seeing yourself moving to a retirement community, or do you want to live as independently as you can?  

You can't see if you're on track for your goals if you haven't defined them.  If you do find you’re falling short of where you want to be, our team is here to help you strategize about how you can get to where you want to go. 

Be Your Own Financial Advocate
One of the best things you can do is to make sure you have a clear understanding of your overall financial standing and be comfortable enough to ask for help when you need it.  There are more resources than ever at your disposal and it’s important to seek out information from sources you can trust.  (Hint: Check out our Women and Investing article for some helpful information).

While women may face many challenges as they save for retirement, careful preparation and a creative approach will help you meet your goals.  Our team is here to help ensure that you always know where things stand.

Happy International Women’s Day,
Your Eagle Wealth Team

P.S.  Did you know that women outperform men in investing?  Here’s why.

The Week on Wall Street

A late-week surge, triggered by reassuring Fed-speak, propelled stocks higher last week.

The Dow Jones Industrial Average gained 1.75%, while the Standard & Poor’s 500 advanced 1.90%. The Nasdaq Composite index picked up 2.58% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.81%.^1,2,3

Stocks Resume Climb

After rebounding to start the week, stocks weakened following higher inflation numbers out of Europe and higher-than-expected manufacturing activity.

Stocks continued their decline into early Thursday following a report of higher labor costs and low initial jobless claims. But stocks staged an afternoon relief rally on Thursday following comments by Atlanta Fed President Raphael Bostic that he was “still very firmly” supportive of increasing rates in quarter-point increments. The climb in stocks was remarkable, given that yields on 10-year Treasuries reached their highest level since November. Undeterred by a strong services data report, the upside momentum continued into the final trading day and added to the week’s gains.⁴
 

Disconcerting Economic Data

It was a relatively quiet week for economic news, but several new economic data reports gave insights into overall activity. U.S. manufacturing activity contracted in February–the fourth consecutive month it has done so. While this may eventually justify a reason for moderating future rate hikes, the activity exceeded analysts’ expectations. An accompanying survey of manufacturers pointed to improving demand and potentially accelerating price pressures.

Meanwhile, China reported an outsized jump in manufacturing activity, which may help relieve remaining supply chain kinks. But the report may also fuel commodity price increases and influence global inflation. Inflation remained a persistent issue in Europe, as February’s Eurozone inflation read was hotter than anticipated.