Financial planning for women: Still more room for growth

Spotlight on Finance

— ● Value yourself. Don’t be afraid to ask for a raise or promotion. Schedule a meeting with your supervisor. Do your homework and go in prepared. Demonstrate what you have done for the company and how you have contributed to the bottom line.

● Invest in yourself. Regularly review and maximize retirement options and consider things like buying a house instead of renting.

● Schedule a meeting with a financial advisor. Women emphasize relationship building and fact gathering and are more likely to consult with experts when it comes to financial planning. Leverage this, and schedule a meeting with an experienced professional to chat about finances. Knowledge is power.

More so than ever before, women have a seat and a voice at the table. But we still have work to do. Look to videos, books, websites and groups geared toward helping women plan for their future to become even more financially empowered. More often than not, these resources are free. And don’t forget you can always call your financial advisor. He or she can steer you in the right direction towards a better financial future.

About the author: Fran O’Rourke is senior vice president of Key Private Bank in the Capital Region. She can be reached at either 518-257-8733 or frances_orourke@keybank.com.

Facts and planning tips about and for women

While it is true that women are gaining more financial knowledge than ever before and are using it to build a better future for themselves, the statistics show there is still room for more improvement.

Take a look at the following statistics to see where you might fit in. Are you doing everything you can to make sure you have a financially secure future?

● Fewer than 16 percent of high net worth women use a financial advisor; nearly one in four do not have a financial plan.

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