Rockville Centre Herald 11-16-2023

Page 16

Stefans helps women find financial security By PARKER SCHUG

Donna Stefans is preparing women for a financially fruitful future. And last week, she took to Zoom to share some of that expertise as part of the Herald Inside LI roundtable series. Stefans — the founder and lead attorney at Stefans Law Group — says women should quiz themselves with a number of questions to help them assess where they are financially. Not just now, but in the future. But in this particular event, Stefans quizzed participants on how long they felt the typical women or man lived, how many women out in the workforce were saving for retirement, and what women’s income was like compared to men. She shared how the answers to these questions should prompt women to prepare for their own future. “Truly, knowledge is power,” Stefans said. “In order to start thinking about — if you haven’t already started thinking about — what to do with your own financial plan, what is a financial plan, and ‘what do I look like in my financial plan,’ you have to start from the beginning.” And no worries — Stefans reassured her audience they should not stress about their past planning, but rather, focus on the future. “The doubt and the fear are the parts that take us away from the path of getting to our place,” she said. “Just by being here today, it means you want to educate yourself, and build a great world for yourself.”

Stefans highlighted the importance of knowledge in household and marriage finances. “I see it very often in the widow world,” she said. “Unfortunately, a husband dies, and the husband is the one that’s been in charge of the financial assets. And, now, the wife is sitting there without her husband, and doesn’t have any idea how to manage these assets.” And then there is the “sandwich generation,” responsible for financially supporting their elderly parents and as well as their own children all while paying attention to all factors impacting personal finances before finally finding the time and energy to turn to planning. Stefans also shared the benefits of credit along with resources for credit security. “You want to make sure your credit stays clean if you have it, and that you have a good score,” she said. “Less debt out there that you’re not using would be good, and paying your credit cards on time. Even if you carry balances — which I’m not suggesting you do — but if you have balances, just pay on time, and it will help you with your credit.” A major talking point of the event was enlisting the help of a financial planner, another hat Stefans wears. That includes making sure you have lined up a will, health care proxy, durable power of attorney, guardianship provisions, and a trust to ensure individual stability in case of illness. “The biggest secret about this,” Stefans said, “is time, practice and setting goals.” To learn more about upcoming events, visit

Courtesy Stefans Law Group

Donna Stefans shared her expertise during an Herald Inside LI webinar hosted by RichnerLive and Herald Community Newspapers. The topic from the founder of Stefans Law Group? Empower Women & Wealth: Building Financial Security.

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