Women in Transition

• Are you a woman going through change?
• Overwhelmed with the challenges you are facing?
• Need help putting together a plan for your financial future?

Women face many challenges throughout their lives. They wear many hats throughout their careers and often must overcome challenges they never thought they would run into walking the road of life.

Meyers Financial Services, Inc. is a financial advisory firm helping women face those challenges and overcome them while taking into account your life’s milestones. We work with women throughout California and the United States, either in person in our office in Sonoma, California, or via Zoom for clients in other states.

Women provide the majority of informal care for their family and friends. Largely because of caregiving responsibilities, women are more likely than men to work part-time, spend more years out of the labor force, and in general have shorter careers. Informal caregiving can significantly affect their retirement income. Meyers Financial Services, Inc can help you. We know because Lillian Meyers, our founder, experienced caregiving and took care of her parents.

-U.S. Department of Labor, Bureau of Labor Statistics, News Release September 2017

Statistics indicate that 75% of married women become widows. Women live longer than men by about seven years and women tend to marry older men. Believe it or not, the statistic is that the average age that a woman becomes a widow is 57. Losing a spouse creates emotional turmoil for the spouse that remains. According to the U.S. Census Bureau, as of 2019, there were almost 15 million widows and widowers in the country. About 77% of these individuals, or 11.4 million, were women. (Some widowed people later remarry, so the total number of individuals experiencing widowhood is actually larger — after remarriage, they are no longer classified as widowed.)

Invest in You:
Making matters more complicated, the death of a spouse unleashes a deluge of financial tasks. Many widows aren’t as familiar with investing, insurance policies, taxes, or estate planning because, in many cases, their husband handled these financial matters.
Sadly, even when the widow managed the family money matters, she’s likely to be engulfed in grief and despair at first. This can result in financial matters being placed on the back burner.

6 things to consider as a widowed woman:
1. Don’t rush into major irrevocable money decisions right away. 
2. Watch out for financial wolves who will prey on widows.
3. Make housing decisions carefully. 
4. Get an objective review of your finances.
5. Don’t be a purse for others.
6. One last item

Make sure the social media is turned off and you close their accounts as soon as possible.
Your advisor should be experienced in working with widows and have an accepted professional designation. The most acknowledged credential is the certified financial planner, or CFP®,, status. Lillian Meyers is a CFP®,. She is an advisor who puts your interest first as she provides unbiased and holistic advice and is a fee-compensated advisor.

In 2020 women, were in charge of more than half of the personal wealth in the United States.
Women control 51% of the personal wealth in the U.S., an estimated $22 trillion worth, citing research by New York Life Investment Management. 
That number is expected to jump by 30% to nearly $29 trillion over the next 40 years as intergenerational wealth is handed over, New York Life said. Ninety-six percent of women have a primary or shared responsibility for family financial decisions.
At Meyers Financial Services, Inc. we will:

• Supervise asset transfer.
• Create a personalized financial plan based on your risk tolerance and planning needs.
• Assist in implementing your new budget.
• Update cash flow and spending plan -Invest your assets in a customized, cutting-edge investment strategy to meet your long-term needs.
• Serve you with integrity, honesty, and compassion by our dedicated service team.

What gender has the most debt?
Though more than 75 percent of all Americans have at least one credit card, and the average person has 3.7 with about $5,600 in outstanding balances. Women are more likely than men to accumulate larger debts as a consequence of divorce or family challenges, according to new data from FINRA.

Meyers Financial Services Inc. can help through our Financial Coaching system. Ariel Andrews, Investment Advisor Representative, is certified as a Financial Coach and she well help and guide you on the right track.

Here are 9 questions to help you think about retirement and take charge of your financial future:

• Do you work for an employer that offers a retirement plan?
• Have you worked at the job long enough to earn retirement benefits?
• Do you keep copies of the documents that define the provisions of your retirement plan?
• What happens to your retirement benefits if you change jobs?
• Do you know how you can save for retirement?
• If you are self-employed or an LLC/Corp/S Corp, do you know the different retirement plans you may have?
• Have you checked your Social Security/Medicare benefits?
• What are you going to do if you are disabled?
• What is your family going to do if you die?