Why is Intentional Life Planning particularly important to women? Simple, women have different planning needs than our guys. We live longer and due to life’s stages and transitions, we often take time away from our prime earning years – thus possibly leaving gaps in our savings for use later in life, and then there are those life events – Marriage, kids, death, inheritance, divorce and many others.
As evidenced in our own practice, both planned and unplanned, life events can have a greater impact on women and their financial wellness, both in the short and long-term. So what is the solution?
Let’s start by taking a look at the meaning of intentional and how it relates to life and financial planning.
Planning doesn’t stop there. It is not a one-time “set it and forget” action. It is a process that requires dedication, intention and hard work. Why? Because of life’s stages and what we call “course corrections” that continue to interrupt one’s plans. Think of an athlete or first responder – how are they able to overcome obstacles? They plan, prepare and train. Planning leads to practice, continued practice leads to mental preparedness that provides support in times of life’s course corrections.
To that end, we believe that when one intentionally engages in life planning – the process of continued planning and practice helps to remove uncertainty, helps to provide a solid foundation where confidence is gained, so that when life happens, one is in control.