Wealthspan: the ability-to create and experience your life as you desire with confidence that you will achieve optimal wealth and health.
Wealthspan for women refers to the strategic planning and management of financial resources specifically tailored to address the unique financial challenges and opportunities that women face throughout their lives. Given the distinct financial realities for many women—such as longer life expectancy, potential career interruptions, and wage gaps—wealthspan planning is crucial for ensuring financial security and independence over the long term.
As we go through our life stages, we all face obstacles we did not expect, life paths that made a different turn, or expectations that may not have been met. When we are confident about our finances and health, it makes a difference in how we live our life and how we navigate through challenges to live our best lives.
Start your path to your personal wealthspan by creating good habits for your finances and health. It’s never too late to start!
- Spend time assessing what areas need to have attention and put a plan of action together (use the “Wheel of Life” or play “The Goal Game” - contact Ciccarelli Advisory Services on how to obtain these resources, or order Calling Cards to help prioritize your values);
- Consider the power of 10 – exercise 10% more, lose 10% of your body weight, save 10% more, work on your goals each day 10% of your waking hours, you get the drift;
- Know what your assets and liabilities are (prepare a net worth statement annually or anytime you have major changes in your life – the best practice is having a balance sheet that you can access real time balances anytime);
- Understand what you need to support your lifestyle and document it;
- Select secure technology that will give you an up-to-date picture of your financial health;
- Consider hiring a financial and wealthspan coach that can help you design your plan, implement, and stay on track;
- Leave your financial plan organized in a way that those who may step up to assist you or inherit a legacy can “step right in”;
- Make a commitment to learn more about healthy habits and financial wellness whether you take a class, read a book, or listen to a podcast while you are walking. The more you know about health and financial planning, the more motivated you will be to make health and wealth changes and you will better appreciate the difference that small steps can make;
- Communicate your plan to your loved ones, especially anyone that may be stepping up on your behalf if you become disabled;
- Always take a front seat when it comes to your finances whether you are married, single, widowed, or divorced.
Wealthspan planning for women should be customized to reflect their unique circumstances, goals, and challenges. By focusing on long-term financial security, women can ensure that their wealth supports their needs throughout their lives and creates a lasting impact for future generations. For additional assistance on getting started email [email protected] or call our offices.