As always, retirement is an important topic of discussion at GuideVine. This week, we look at the particular retirement challenges facing entrepreneurs and women, specifically.
For great career advice from one of the most liked CEOs or to find out what is involved when becoming a volunteer board member for a non-profit organization, scroll down to the Other Articles section.
Small business owners are often so busy with the day to day operation involved in running their businesses, they can overlook the importance of their succession strategy. Wealth manager and investment advisor Nick Giacoumakis shares some common challenges faced by small business owners when it’s time to sell the business. He also offers three important plans to put into place to help with retirement goals and transfer of wealth. Read the full article here.
While the idea of becoming single from death or divorce is difficult to discuss, these two factors are among the top five financial challenges faced by female clients. It’s not uncommon for women to adopt a passive role when it comes to household investing and finances. But this can have disastrous retirement consequences, as many live for a decade or more after the death of a spouse. In order to help women prepare for death or divorce, Rorrie Gregorio has created a “lifebook,” including a balance sheet, investment summary and will, list of important contacts, and more. Find out what else is involved in a lifebook and what you can do to plan ahead here.
While failing to plan can certainly result in a reduced standard of living in retirement, studies show that simply being female can, too. Are you familiar with the concept of the gender retirement gap?
“The National Institute on Retirement Security (NIRS) released a report [in 2016] with a startling finding: ‘Across all age groups, women had substantially less income in retirement than men,’ and were 80% more likely to be impoverished during their so-called ‘golden years.’ As they aged, the situation worsened: Women between 75 and 79 were three times as likely to fall into poverty than their male counterparts.”
Read this article to find out where this gap comes from and what can be done to close it.
LinkedIn’s Jeff Weiner has become one of the most beloved CEOs in the world. He took to twitter to share what he believes is important to reach employees on a deeper level and Justin Bariso breaks down each item for you here.
If you’re thinking about volunteering to serve on a non-profit organization’s board, keep in mind that your time is only one commitment of several that you will be making. Volunteer board members are expected to provide donations, attend frequent meetings and travel to attend events. Chris Taylor fills us in on what to expect when signing up to help out your local non-profit here.