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Women's Wealth Newsletter, November 2020

Women's Wealth Newsletter, November 2020

As we enter the holiday season, we hope this newsletter finds you & yours happy and healthy.  Another year has absolutely flown by and most of us are probably ready to put 2020 behind us.  It has been a challenging year, but so many of us still have so much to be thankful for.  With our country facing many uncertainties, we hope you can take the time to relax and enjoy the holidays!

Tips to Control Holiday Spending

Create a “Holiday Spending Plan”

  • Write a list of those who you would like to purchase for and set a specified dollar amount for each person.  Be sure to include the cost of “hidden” expenses like stocking stuffers, bags, cards, wrapping paper, etc… 

Stick to your Plan

  • Once you have spent your budgeted amount for someone, cross them off your list.  This can help you avoid impulse shopping, too! Only use the money from your monthly budget that is not set aside for bills.  You may need to give up a few items, like your morning coffee, to make room for your Christmas shopping. Try to use cash to avoid racking up extra expenses on your credit card.  

Set Up a Gift Exchange

  • If you want to buy for a long list of people, consider getting a group of your best gals together to do a Secret Santa gift exchange.  You will get to spend quality time with each other, everyone walks away with a gift, and your wallet is happier too

Donate to Charity

  • Christmas time is always a great time to give back to those who need it most.  After the year we have had, it is even more important to spread the love.  If you cannot donate financially, grab the grandkids, or your friends, and give your time with an organization that could use the extra hands. 

COVID Friendly Christmas Ideas

Ugly Mask Contest

  • Ditch the ugly sweaters this year and have a contest for the ugliest Christmas mask!

Secret Santa Scavenger Hunt

  • Embark on a scavenger hunt to collect gifts along with fun missions and clues! Then donate the gifts to a family in need. 

Contactless Cookie Exchange

  • Get a list of your best gal pals, draw names, and drop cookies (or other goodies!) off on each other’s doorstep.

Christmas Cards

  • Have the family write and decorate Christmas cards to send to those in nursing homes, hospitals, or away from their loved ones.


Women's Wealth Newsletter, April 2020

Helping women live a healthy financial life is something near and dear to our hearts.  We have hosted a series of events that are both fun and educational for women over the last year and wanted to bring some ideas to you in our first ever Women’s Wealth Newsletter.   

“A strong woman looks a challenge dead in the eye and gives it a wink.” – Gina Carey

5 Statistics to Know

Here are just 5 of the 75 statistics mentioned in Morningstar’s Special Report: Women and Investing from March 2020:

  • Age 44: The average age earnings peak for women, compared to age 55 for men. 
  • #5: Rank of retirement savings on women’s financial priority list vs. #1 on men’s list. 
  • 90% of women will have to manage finances on their own at some point.
  • 39% of women say they are confident their money will last 25 years into retirement compared to 54% of men.
  • 42% of mothers scaled back hours to take care of a child versus 28% of fathers.
Learn more

5 Things You Can Do Now

While women realize that we are at a disadvantage, retirement savings still falls below other top priorities.  Here’s five things you can do now:

  • Establish short- and long-term goals and call us to get started on your financial plan.  
  • Create or re-visit your spending plan.   For complementary budgeting tools or help, please reach out to us. 
  • Complete your Personal Information Guide that records all important contacts and location of financial documents.  Contact us for a copy!
  • Convert Traditional IRA dollars to Roth.
  • Have “The Talk” with aging parents about their plans or desires should they need long term care.
Contact Us to Get Started
Establishing a Healthy Relationship with Money 

Establishing a Healthy Relationship with Money 

While you are re-working your household spending plan, use this as an opportunity to help teach your kids or grandkids about good money habits.

Help divide your children's money into three buckets: saving, spending, and sharing.   

While you establish your short- and long-term goals when creating your plan, have your kids do the same to create a goal to save towards.  Allow a certain portion of the income to be spent on something they want in the short term.  Lastly, help instill a giving heart by allocating a portion of their earnings towards the sharing jar.  Help your kids identify people or organizations to donate to.

Cathy White, CWA®

Vice President, Financial Advisor

(812) 385-3323

CJWhite@rwbaird.com

Cathy joined Baird in 1996 and become a licensed Financial Advisor in 1998.  Cathy has a passion for educating and empowering women.  She helps clients reach their financial goals so they can focus on what is important.

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Jacinda Hughen, CFP®

PWM Financial Planner

(812) 385-3323

JHughen@rwbaird.com

Jacinda joined Baird in 2016 and graduated from Purdue University with a B.S. in Management and Finance. She earned her Certified Financial Planner designation in 2019. Jacinda is our team’s full-time financial planner and runs...

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