“Getting old is not for sissies and certainly not for those who have lost their sense of humor,” warn Certified Financial Planner (CFP) professionals Eleanor Blayney and Marjorie L. Fox in this upbeat, reassuring guide to women’s golden-year financial planning.
The two met while working across the street from each other at competing Virginia firms in the 1980s, and Blayney is the author of the 2010 title Women’s Worth, advising young women as they begin their careers. On the other end of the age spectrum, 5,000 women turn 65 every day in the U.S., and the authors — who have counseled many through such transitions through their work — wrote Women Wise for them.
Older women face disadvantages in comparison to their male contemporaries: less money in savings due to the wage gap and interrupted careers when they took time to raise children. They face some critical questions as they shift gears into retirement: Do they have enough money? Should they age in place, and how can they pay for long-term care if they need it? How can they manage their portfolios and estate planning so they can be financially secure and also leave a legacy?
The authors’ professions have served them well; their advice is well-organized, succinctly delivered, and clearly explained. Given the emotional heft of the decisions in play, the authors’ kind-hearted and sympathetic tone hits the mark particularly well.
They take a pragmatic and non-shaming approach to avoiding cons and financial fraud, and urge readers to think carefully about the big, non-quantifiable questions as well as the purely financial ones: how to make the golden years meaningful, fulfilling and secure; how to envision a comfortable final stage of life, and how to make sure that your wishes are communicated to loved ones.
In short, this is a must-read guide for women nearing the final stage of their careers.