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If you are reading this article, chances are you might be struggling with your financial planning or the investment advice that you have been given isn’t working.  If you are in the position where you feel your interests are not being put first in your financial future or if you feel that you are not meeting the goals you want to meet, the problem may lie with the financial planner you are working with.  You may want to consider a fee-only financial planner to meet your investment goals.
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Being a single woman who also happens to own her own business, I am often asked how I am able to manage the day-to-day finances of my company as well as deal with personal financial matters associated with my household. I suppose that some people may perceive my financial independence as a big accomplishment. After all, on top of the distinctions I just spoke about, I am also a single parent.
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Arlie Hochschild, renowned Author and Professor of Sociology at the University of California once said, “The influx of women into paid work and her increased power, raise a woman’s aspirations and hopes for equal treatment at home. Her lower wage and status at work and the threat of divorce reduce what she presses for and actually expects.”

This quote expresses much of the plight that is still prevalent with women today.  Women dream as big as anyone else and desire to succeed just as men do.  However, it puzzles me that we allow ourselves to fall short when it comes to protecting ourselves, specifically, our standard of living as it relates to divorce or widowhood. According to Psychology Today Magazine (1997) a woman’s standard of living plummets 27% after a divorce; a man’s standard of living increases 10% after the same event. Continue reading

Bernie Madoff has been demonized in the media and in the financial industry as being the biggest financial fraudster of the 21^st century. His victims were not only the incredibly wealthy, but also the middle class employee such as the teacher and blue collar line worker. He knew no boundaries when it came to scamming others out of their money and it didn’t matter if you had a little or a lot, if you had it he was determined to rid you of it.

However, I’d like to go on record as being the first to say that there’s an even larger, more sinister force at work in the investment world that could affect any of us. This is a real threat to anyone who is worried about their financial future and security.
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A 403(b) plan is a special tax-deferred retirement savings plan that is often referred to as a tax-sheltered annuity, a tax-deferred annuity, or a 403(b) annuity. It is similar to a 401(k), but only the employees of public school systems and 501(c)(3) organizations are eligible to participate in 403(b) plans.

Employees can fund their accounts with pre-tax contributions, and employers can also make contributions to employee accounts. Employer contributions can be fixed or discretionary. Eligible employees may elect to defer up to 100% of their salaries, as long as the amount does not exceed $15,500 (in 2008). A special “catch-up” contribution provision enables those who are 50 and older to save an additional $5,000. Total combined employer and employee contributions cannot exceed $46,000 (in 2008). Contribution limits are indexed annually for inflation.
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