In the Struggle to Rebuild Assets, Women Are Finding a Greater Burden

Welcome to Prosperity Thinking, a money magic column written for my blog by Kate Walsh, financial planner. Kate is also a member of the Creative Soul Circle, my free social network for women-only where you will find Kate's Money Magic thread which has already helped many women gain a better understanding about their relationship with money.

* The Creative Soul Circle ~ where Soul SiStars gather + grow their dreams * Sign up here ~ it's free!

It goes without saying that few of us have been left untouched by the global economic crisis. Whether it’s a lost job, lost assets, or even a change in how we view asset allocation, most of us are climbing out of this deep recession altered in some way. But a new study has found something else: The financial crisis has perhaps had an even more profound effect on women than men.

To be sure, discussing the problems that women investors are having in comparison to their male counterparts can be a sensitive issue. This is especially true when we focus on baby boomers. This is, after all, a generation of women that has made serious headway in almost every facet of our lives: in education, in culture, in the corporate world and in politics—think of those “18 million cracks in the glass ceiling” that almost-president Hillary Clinton spoke about. So why then would these women be struggling more than men in the aftermath of the financial crisis?

A Survey of Concerns and Expectations, sheds some light on this quandary. First, in the past 12 months women were less likely than men to have made changes to their stock investments. Roughly 60% of women did not make changes, versus 49% of men. Although an equal number of women and men (six in 10) think investing in equities is important for reaching their retirement goals, 60% of women said they are not confident that investing in equities is a good idea, compared to 47% of men. Additionally, 62% of women who responded to the survey said they lack confidence in their ability to invest in equities, compared to 42% of men. Compounding the problem, fewer women (16%) than men (25%) have increased their investment contributions. About half (49%) of all baby boom women have decided to delay retirement because of the market downturn. Nearly four in 10 (39%) of older baby boom women (aged 55 to 64) have also gone back to work after retiring.

Financial Coaches agree that women have two primary pre-requisites before making major financial decisions or changes.  First, they want to work with coaches/advisors who listen to them and who take the time to understand their concerns, goals and objectives regardless of their age or financial situation.  Second they want to make informed, educated decisions. This has been my experience, but more than that women are most concerned with having as much information as possible before making major decisions about their finances.

As I speak with more and more women, I am finding that those who did not have an advisor or felt that they did not have access to financial education prior to the downturn, have been slower to react to take control of their finances. We have found that once these two objectives have been met, women are eager to move forward and take the necessary action to work toward both their short- and long-term financial goals.”

The struggle for women to recover lost assets goes beyond investment strategy, however. It is important to keep in mind that women are still often paid less than men. It is also noted that women are more likely to take time away from their careers to raise a family. Both of these factors can result in decreased retirement savings during those early career years when their male counterparts are building their investment accounts, she says. Women are also more likely to be the primary care provider for their partner or aging parents later in the careers.“This can also impact a woman's ability to systematically save for retirement, while also decreasing the potential for compounding.”

We recommend that to rebuild their assets, women of all ages should start with a budget and move forward from there. When the SUCCESS team meets with clients they make sure they are maximizing their saving goals. Women (as well as men) should also contribute to their defined contribution plan at least as much as the employer is willing to match. Another important factor is determining risk tolerance; we find that while many women will say they are conservative, this is not always indicated in their risk tolerance questionnaire.

“Some women may need to be less conservative in their investing to help increase their retirement saving”. “If a woman’s financial situation and risk tolerance questionnaire suggest a higher risk tolerance, they should consider adjusting their investment strategy accordingly. Younger boomers in particular may have a higher risk tolerance and can consider an investing strategy that is more aggressive.” As an older Boomer, I coach my clients based on their needs, desires, time to retirement and values. Please call me with your questions, and let‘s see how I can serve you.

About Kate Walsh Kate Walsh has been involved in the financial world for over 40 years. Kate’s passionate about her work, which is "To bring financial clarity to women, and assist them to develop Prosperity Thinking."

Kate holds numerous certifications, licenses and is committed to her personal philosophy "to be in a continual process of improvement."

Join Kate in the Creative Soul Circle Money Magic Thread as we explore "what's" possible in creating our Prosperity Consciousness.

For more information you can email Kate at kate@successalliance2.com California License-0F61686

Specializing in Financial Services, Coaching, Prosperity Thinking and MoneyWorks Workshops.

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Money only grows when it is circulating!

Welcome to Prosperity Thinking, a money magic column written for my blog by Kate Walsh, financial planner. Kate is also a member of the Creative Soul Circle, my free social network  for women-only where you will find Kate's Money Magic thread which has already helped many women gain a better understanding of their relationship with money.

Transforming our dreams, desires and passions into our reality takes vision, commitment and money.

Many of us are great at the dream, desire and passion process and we can even envision our success, yet we seem to fall just a little short of manifesting the funds necessary to honor our commitment to ourselves and build  success.

Realizing that money and creating cash flow is about taking action by gathering information, identifying and understanding what resources will be needed. It is this action process that allows the commitment to your vision to actually manifest itself. It is not a passive process. It is about understanding how money works.

So what do women do? We network!  We then start asking our friends ”Who do you know?" Then we gather the information, do the research and analyze the information. It is all about the process of growing money. Next, we transform our new powers into our vision and then we manifest the money needed to build our dreams, fulfill our desires and realize our passions. Yes, there is much more, such as building your Vision Statement, Business and Marketing Plans, forming your organizations, finding key players to support your dream and growing money to pay for it all.

The fact is money only grows when it is circulating.  As a Financial Coach when my clients have asked me “what” to do to raise money for their business, I suggest a variety of ways, but the one that is the most fun and allows you to learn the most about money is a Money Club. I have suggested many times that my women clients form Money Club’s.  It is a great way to build financial knowledge and learn how to invest.  Use the power of the group; this is a case where “more is better.” You can build the wealth needed to fulfill all your incredible dreams, by beginning the simple process of creating a Money Club.

There are several books you can purchase online, or you can Google search to see if there is a Money Club in your community.

About Kate Walsh

Kate Walsh has been involved in the financial world for over 40 years. Kate’s passionate about her work, which is "To bring financial clarity to women, and assist them to develop Prosperity Thinking."

Kate holds numerous certifications, licenses and is committed to her personal philosophy "to be in a continual process of improvement."

Join Kate in the Creative Soul Circle  Money Magic Thread as we explore "what's" possible in creating our Prosperity Consciousness.

For more information you can email Kate at kate@successalliance2.com California License-0F61686

Specializing in Financial Services, Coaching, Prosperity Thinking and MoneyWorks Workshops.

Prosperity Thinking: March Forth

Welcome to Prosperity Thinking, a brand new column written for my blog by Kate Walsh, financial planner. Kate is also a member of the Creative Soul Circle, my free social network  for women-only where you will find Kate's Money Magic thread which has already helped many women gain a better understand of their relationship with money.
While reading "my daily dose of sanity" by Alan Cohen I was intrigued by how he changed March 4th to "March Forth."  I loved the idea of marching forth from old limited ways of thinking. Marching forth from fear and doubt and marching forth from blame and guilt.  Can you imagine yourself marching forth leaving old habits behind and marching forth to becoming who you know you are?
Think about being a visionary marching forth seeking a solution to old problems. Discovering that the only purpose of a problem is to motivate us to find an answer that will lift us beyond the consciousness that created the problem.
So, let's march forth and do what is in front of us.  Let's do the inquiry of looking upward and onward, celebrating our strengths rather than analyzing our weaknesses.
Let's march forth in our quest for abundance knowing that abundance is a state-of-mind.  It is a relationship, and this relationship grows by marching forward with our quest for success, prosperity, abundance.  When we march forth and realize "what" our relationship with money is-we can move upward and onward to achieving our desires, dreams and wishes.
So the question for today as we march forth to a better understanding is: What is your relationship to money?
Today is the day to march forth to your prosperity.
About Kate Walsh

Kate Walsh has been involved in the financial world for over 40 years. Kate’s passionate about her work, which is "To bring financial clarity to women, and assist them to develop Prosperity Thinking."

Kate holds numerous certifications, licenses and is committed to her personal philosophy "to be in a continual process of improvement."

Join Kate in the Creative Soul Circle > Money Magic Thread as we explore "what's" possible in creating our Prosperity Consciousness.

 

Put Your Strengths to Work

Ulrica. Watercolor on paper, 8 x 10 inches © 2010 by Kathy Crabbe. From the Creative Soul Card® Series: http://tiny.cc/d0rwm Abundance is...

Knowing your strengths and working from them, rather than strengthening your weaknesses.

An awesome book about discovering and implementing your strengths is titled  Go, Put Your Strengths to Work by Marcus Buckingham. His book includes the Strengthsfinder Test (an online test that requires a code from his book) to determine your top five strengths.

There are four strength domains:

  1. Relating Themes (working with people)
  2. Impacting Themes (influencing people)
  3. Thinking Themes (working smarter)
  4. Striving Themes (Working harder

My Top Five Strengths:

My top five strengths are "thinking themes" (working smarter) and a "striving theme" (working harder).

1. Ideation: fascinated by ideas 2. Input: inquisitive 3. Intellection: like to think 4. Achiever: drive and constant need for achievement 5. Learner: love to learn

My strength is in working with groups (SiStars!) online! I enjoy leading and bringing women together and I love sharing ideas with others who value those ideas. I love the energy and power of a group.

Groups I have loved:

* School (Queen's University and St. Lawrence College esp.) * Camp * Orchestras/bands * Writer's Cafe (I founded this group a few years ago) * Sawdust Festival (an art festival in Laguna Beach I was in for eight years) * My Creative Soul Circle (my online Soul SiStars!)

What has made me strong: Knowing what it feels like to be on the outside of a group and wanting instead to create a group for others who know what it feels like not to fit in. I also have a desire to be loved for who I am.

Having both parents as teachers, I saw the ins and outs, pluses and minuses of working within the traditional school system and realized that if I wanted to fit into a group, that I needed to create my own ~ the story of my life; making my own way, but with devoted friends. We go where the juice is! I've also journalled, dreamed and drawn forever, so now it's time to SHARE!

What are your top five strengths and how are you applying them to bring forth your brilliance and truly shine?

New Moon Manifestation Exercise

Within the book Alchemy of Nine Dimensions by astrologer Barbara Hand Clow you will find an amazing New Moon Manifestation Technique that includes how to set your intentions in tune with the New Moon. It involves making a list of things you would like to have or create in your life and placing that list in your third eye and then in your medulla oblongata. This technique teaches you about the power of your mind and the magic of the Divine. You literally can create almost anything. "The Divine Mind does not assist you unless you ask."

According to The Pleiadian Agenda (another book by Hand Clow), the Moon has a huge influence on what you want because the Moon reflects our desires to the Sun, where our access to the 8D library is located. 

The first time I used this technique, I was blown away and I wrote about it here: Meeting Ian.

 I highly recommend all of Barbara's books, but my favorite is Liquid Light of Sex: Understanding Your Key Life Passages which talks about the major astrological transitions we all go through at age 30, 40, 50 and 60.

About Kathy Crabbe
As a soul reader I offer one-on-one readings, eclasses, astrology reports and other online resources to help soul-seekers uncover their gifts and strengths. My background in the arts infuses my readings and encourages my clients to take creative risks.

I received intuitive training from English psychic and channel, Adam Higgs and spiritual training from meditation teacher Om (devotee of Sri Chinmoy) and yoga training with Atma Khalsa and Amanollah Ghahraman. I studied Herbalism with Susun Weed (Green Witch Intensive) and Therapeutic Touch with Joyce Fournier, RN. I also received my certification in crystal healing from Katrina Raphaell’s Crystal Academy and I've been a lifelong student of astrology through private study and group sessions with Steven Forrest, Patty Davidson, Laura DesJardins and Jeffrey Wolf Green. Celtic Fairie Shamanism Two year training with Francesca De Grandis, author of "Be A Goddess".

Learn more about readings here: http://KathyCrabbe.com/readings

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