WHAT REALLY MATTERS TO WEALTHY WOMEN

By: Shauna S. Brennan, Esquire

Women will be the new face of wealth by the end of this decade, and according to McKinsey & Company, $30 trillion in assets will transfer into the hands of women in the US.

As women, and younger women, become more financially savvy, they demand socially relevant investing, asset protection, and legacy planning to the second and third generation. Key motivators for women’s financial planning include having sufficient money to fund a comfortable lifestyle through retirement; education and opportunities for family; and not wanting to be a burden on others.

Studies report that women have lower self-confidence regarding investment and financial management decisions and, as a result, will seek the advice of others. While it is important to have trusted financial advisers, insecurity on financial matters may make women susceptible to investment schemes and other illegitimate deals. To prevent this, every investment should be vetted by your entire wealth team, including your accountant, attorney and personal banker. “Relationship wealth management with a team consisting of a qualified financial planner, attorney and accountant is the key for women of affluence,” says attorney Shauna Brennan.

Here is a reliable formula for wealth management success, for it is important to you as a woman of affluence: plan, manage, let go and LAUGH!

Legacy

Leave a lasting and intentional Legacy with an estate plan by Shauna Brennan, Esquire!

Adventure Budget for travel, experiences, and Adventures, it’s your time to live large!

“A” may also be for “Age” as women live longer, so, plan for the long game.

— Dr. Kate Zhong

Unexpected

Prepare for the Unexpected with insurance, emergency funds, and asset protection with your wealth team.

“Failing to plan is a plan to fail.”

— unknown

Be the change you want to see in this world through generous charitable and educational Giving.

“To affluent women, I recommend giving of your time, talent, and finances, because what you give comes back to you tenfold.”

—Virginia Knudsen, CEO of BOAR - A personal & professional development company

Live your best life, prioritize your physical, mental, and spiritual Health. “In many ways, health is wealth.”

— Dr. Kate Zhong

“The more we know, allows us to equip ourselves with financial tools and knowledge earlier and better. Women need to start financial education at a younger age. A basic skills set is essential for financial success,” according to Dr. Kate Zhong. “In this sense, financial literacy is critical. Finally, women need to become more comfortable regarding financial transactions. What are your fears and reservations? Face the losses and the gains, become savvy in financial management.” There is a saying, calm harbors do not make capable sailors. Get out there into some weather and challenging waters to learn how to navigate your finances. Attorney Brennan recommends, “Women need to be brave and bold about finances. Don’t allow the strain of learning something new prevent you from gaining financial literacy.”

Shauna S. Brennan, Esquire and Brennan Legal Counsel Group, PLLC provide personalized, values-based legal services. A Notre Dame Law School graduate, business owner, mother and grandmother, Shauna works closely with business owners and high net worth individuals to design and document legal transactions and estate planning to ensure a meaningful legacy. Visit OutsideGeneralCounsel.com. Brennan Legal Counsel Group, PLLC.

“Women need to be brave and bold about finances. Don’t allow the strain of learning something new prevent you from gaining financial literacy.”