Why we, women, should get more involved in the financial planning conversation

I am a woman, a wife, a mother, a sister, and a friend.  

Money and finance were traditionally things dominated by men. We, women, see the world slightly differently than men, and when it comes to money, we traditionally, although not by choice, have been left out of the conversation. This might explain why so many of us, to this day, feel uncomfortable when thinking about financial planning or just planning our family’s financial future.

In recent history, many strong, professional, inspiring women have cracked the code and have entered into this arena thinking like a man, in a very linear way. The truth is, she has simply learned to think both ways, taking a male perspective of linear and logic approaches and a female perspective of nurturer, creator, multitasker.

Frankly, that is pure genius!

It is not uncommon, though, that this genius woman often removes herself from the meetings with the family’s financial advisor. The problem with this is that when she is not present, she is not heard.

Her nurturing, creative, end-result mindedness and creator perspective are not included in the design of their beautiful life plan. Her voice is not heard, her option not given and sometimes her wishes not addressed, all because she has removed herself from the process.

Removing yourself from those meetings is something that you should avoid, not because you don’t trust your spouse to honour your wishes, but rather because you act better as a team. Together, you will be able to design the whole picture of your ideal life. It is essential for you to take your seat at the table in such a meeting, participate in the decisions and make choices together.

Here are four reminders to tell yourself before and during the meeting.

Picture the outcomes:

While men are talking numbers, they tend to do it from a logical, linear perspective; while you envision the results of this planning, such as travelling, home renovations or your dream cottage on the lake. Focus on these thoughts to keep your eyes on the end goal. This helps you stay interested and adds life and colour to the conversation.

Forget the coffee:

I love to entertain and make sure everyone is comfortable and happy. But during this meeting, you are not entertaining; you are investing. Let go of what may distract you from the most important part of this meeting: your finances.

Bring a list of questions:

Before having the meeting, make sure you review what the meeting is about beforehand. Have a list of questions ready for your advisor; this way, you will stay engaged with the process, contribute your opinion, and won’t forget to mention any items. Your ideas matter.

Speak your mind

If you don’t agree with something, speak up! Don’t let it get passed over; make sure you are satisfied. This is your future!

Remember this is your money, you have worked hard for it, you have a right to see it well managed and, yes, financial planning is creative! It’s designing your beautiful life!

05 Feb 2021

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