For decades, savers could rely on steady interest from certificates of deposit (CDs) to grow their wealth without taking on significant risk. However, today’s persistently low interest rates present a unique challenge for retirees who want their money to work harder without jeopardizing their principal. At Wealthy Choices®, I help clients navigate these financial waters […]
Category: financial planning for women
Preserving Your Purchasing Power in Retirement
When you think about your money, it’s comforting to believe it’s safe in the bank, especially with the Federal Deposit Insurance Corporation (FDIC) protecting deposits up to certain limits. While this security ensures your principal is protected, there’s another layer of financial risk many overlook: risk to purchasing power. At Wealthy Choices®, I often guide […]
Understanding Risk to Principal: Preserving Your Retirement Investments
When you think about risk, does it bring a sense of excitement, or does it make you uneasy? For many, the concept of risk can be both thrilling and intimidating, depending on the context. Perhaps you embrace risk when skiing down a mountain but shy away from it in your financial investments. Regardless […]
How to Evaluate the Value of Your Home in Retirement: Key Questions to Ask Yourself
As you transition into retirement, one of the most important decisions you’ll face is whether your home still serves your needs. For many, the home holds a lifetime of memories and attachments. But as your lifestyle evolves, the practicalities of maintaining your home may no longer align with your goals and needs. Evaluating the value […]
Is Your Home Still the Right Fit as Life Changes?
As we age, the way we interact with our homes inevitably changes. A home that once served your needs—whether it was chosen for proximity to schools, a spacious yard, or nearby conveniences—might not be as suitable as life moves into different phases. Whether the kids have moved out, your mobility has shifted, or your neighborhood […]
Do You Have the Money for Your Must-Have Experiences in Retirement?
As you plan for or live through retirement, one of the most exciting aspects is thinking about all the things you’ve always wanted to do—whether that’s traveling, attending major events, or diving into new hobbies. But while imagining these must have experiences is fun, the reality of paying for them is a different story. Can […]
Why Mind Share Matters in Retirement: Evaluating the Mental Cost of Your Home
When planning for retirement, we often focus on financial costs and physical energy. But have you ever thought about the mental energy—or “Mind Share”—your home consumes? For many retirees, managing the mental load of maintaining a home can be just as draining as financial expenses or physical upkeep. Whether you’re someone who enjoys tending to […]
Deciding How to Spend Your Money in Retirement: Making the Most of Your Financial Freedom
As you enter retirement or start planning for it, one of the key decisions you will face is how to allocate your money. While your time in retirement is precious, your financial resources are equally important, and the two are closely connected. What do you want to spend your money on? How can you balance […]
Defining Your Retirement: How Do You Want to Spend Your Time?
As I’ve helped many clients transition into retirement, one of the most important questions I ask them is, “How do you want to spend your time?” Retirement isn’t just about financial security; it’s about designing your life around the things that bring you joy and fulfillment. For me, retirement planning is not just about money—it’s […]
What Does It Take to Make a Change in Retirement?
Retirement is a time of significant transition, and one of the most challenging decisions you might face is whether to stay in your current home or move to a new location. Whether you’re considering downsizing, relocating, or adapting your existing home, understanding the physical, emotional, and financial implications of such a change is crucial. Making […]