Women today have more earningpotential and influenceover financial decisions thanever before. They represent almost half ofthe workforce and own or manage manybusinesses. Women influence or controlthe majority of all consumer purchase andinvestment decisions. Thus, it's importantfor women to sharply focus on finances.
Whether you're a business owner, astay-at-home mom, or working in a corporateenvironment, learning to manageyour money should be a priority. Throughoutlife, women face different financialchallenges than their male counterparts. Ifyou're going to take control of your financialfuture, it's important to recognizethose differences and empower yourself.
There are several reasons you shouldhave a financial plan and pay attentionto your investments. Let's take a look atsome of these reasons:
Time spent out of the workforce.On average, women tend to spend moretime away from work than men, caringfor children or an elderly parent. Even ifyou aren't currently in the workforceearning money, it is still important tostay in touch with your finances.
The key to navigating these and otherchallenges is to have a well-roundedinvestment plan. The good news is thatit's never too early or too late to beginplanning for your future. Here are a fewsteps you can take now to help insureyour financial security:
Joseph F. Lagowski is vice president,investments, and a financialconsultant with AG Edwards inHillsborough, NJ. He welcomesquestions or comments at 800-288-0901 or www.agedwards.com/fc/joseph.lagowski. This article was providedby AG Edwards & Sons, Inc, member SIPC.