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Retirement Planning for Women: What Nobody Told Us · Rock My Finances

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  Speaker 1: Investment advisory and financial planning services are offered through Simplicity
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  Speaker 1: specific financial guidance. Before you make any decisions regarding your
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  Speaker 2: Welcome to the Rock My Finances show on k FORHD
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  Speaker 2: Radio and Talk for TV, where we put the fund
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  Speaker 2: in finance joint powerhouse Jeffer Jos CDFA CMC and Private
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  Speaker 2: Wealth Advisor as she collaborates with you to create clarity,
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  Speaker 2: control and compidence with your money, your web. It's not
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  Speaker 2: about the zeros, So what is it all about? Let's
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  Speaker 2: find out. Now Here's your host and weekly friend, Jennifer Jose.
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  Speaker 1: Hey, y'all, welcome back this one's a goodie. Retirement planning
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  Speaker 1: for women, all the things that nobody really told us
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  Speaker 1: and didn't plan. I know that we learn a lot
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  Speaker 1: about money on the internet. We're researching, and we're listening
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  Speaker 1: to news radio stations, news stations, our friends, our neighbors,
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  Speaker 1: our family, whatever. So there's lots of things that are
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  Speaker 1: not out there that are particularly important for women. And
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  Speaker 1: you all know that I'm pro woman. I want to
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  Speaker 1: make sure that we are all taken care of. So
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  Speaker 1: today we're going to learn how it affects women at
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  Speaker 1: some point in your life, retirement planning, and just so
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  Speaker 1: you all know, if you don't think this is you
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  Speaker 1: because your spouse is going to take care of your retirement,
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  Speaker 1: guess what, ninety percent of women will handle their own
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  Speaker 1: money sometime in their lifetime. Sorry, but that's the statistics
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  Speaker 1: that I learned years ago. It's probably even worse now,
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  Speaker 1: I don't know, But just count on the fact that
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  Speaker 1: we need to know about money, but we need to
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  Speaker 1: love it too. I don't want you to do it
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  Speaker 1: because you're afraid of it. I want you to do
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  Speaker 1: it because you love it. And it's not about the numbers,
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  Speaker 1: and it's not about the account as much as and
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  Speaker 1: as much as how much do I need? And how
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  Speaker 1: much am I going to outlive? Like I researched today
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  Speaker 1: as well, and it's the number one question is am
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  Speaker 1: I going how much money do I need for retirement?
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  Speaker 1: Not about that, because everyone is completely different, which is
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  Speaker 1: why you need a custom financial plan or review for yourself.
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  Speaker 1: So I do very simple complimentary reports for people because
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  Speaker 1: they are hearing these great, big numbers and they're just
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  Speaker 1: not accurate for each individual person. So what we're gonna
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  Speaker 1: first talk about is the emotional side of retirement, because
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  Speaker 1: guess what, it's emotional, and planning for women is very
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  Speaker 1: different than planning for men. Women spend our years taking
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  Speaker 1: care of everyone else. First, we have children that we
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  Speaker 1: might not be working as hard for as long for
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  Speaker 1: we might have taken off fifteen years to raise the kids.
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  Speaker 1: We have our parents. I'm caring for my mom right now,
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  Speaker 1: and it takes a lot of time during the week,
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  Speaker 1: and she's in an living facility, and it still takes
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  Speaker 1: a lot of time and money and gas and extra
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  Speaker 1: things for me. So we also care for our alien spouses.
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  Speaker 1: I know a friend or their bad back she has,
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  Speaker 1: her husband has a bad back. He's had several surgeries,
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  Speaker 1: so she's luckily in retirement. But if they weren't, how
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  Speaker 1: are you going to care for your spouse when they
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  Speaker 1: have surgery or something's happening right. Careers, sometimes we put
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  Speaker 1: all of our energy into the most earner, the most
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  Speaker 1: highest earner person in that couple, and then the other
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  Speaker 1: one takes a back seat for a while. Traditionally that
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  Speaker 1: would be women in the past helping the man get
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  Speaker 1: to his career. But now I think it's switched a
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  Speaker 1: little bit. But when I was growing up, that's what
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  Speaker 1: it was. Traditionally. Homes, we spend a lot of time
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  Speaker 1: taking care of our homes. Maybe not everyone do businesses, relationships.
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  Speaker 1: We take a lot of time taking care of everything
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  Speaker 1: else first children, parents, spouse's careers, homes, businesses, relationships. That
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  Speaker 1: comes before our retirement. That's more important. Most of the time.
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  Speaker 1: Now I sit down and do a risk tolerance questionnaire
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  Speaker 1: and a financial questionnaire for all of my clients, and
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  Speaker 1: they most of the time put retirement plan in the
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  Speaker 1: first lease to top two, maybe top three at the most.
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  Speaker 1: But it is important to them, but they're not doing it.
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  Speaker 1: Then I look at where the dollars are going. It's
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  Speaker 1: not going to the retirement. People don't trust all the
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  Speaker 1: retirement plans out there now, which they not necessarily should.
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  Speaker 1: Just because it says to do it doesn't mean that
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  Speaker 1: it was right for us. So we do need to
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  Speaker 1: have a custom look at what you're doing, what your
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  Speaker 1: lifespan is, what your marriage is, what your singlehood is,
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  Speaker 1: whatever it is that needs to be looked at for
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  Speaker 1: you before we can say anything about what you should
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  Speaker 1: have what could have. Some women are divorced and learning
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  Speaker 1: how to do with money by themselves and cut their
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  Speaker 1: assets in half. Stay with men, right, they cut their
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  Speaker 1: assets in half. Some women are widowed and sometimes there
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  Speaker 1: was no life insurance. Maybe they might get a better
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  Speaker 1: pension or half of their social security or their full
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  Speaker 1: social security when he passes away. Like, there's lots of
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  Speaker 1: different things that are possible there, but we need to
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  Speaker 1: know what's happening. Some women have stayed home raising kids
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  Speaker 1: and now they're behind financially. I know that there's laws
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  Speaker 1: that we still can contribute to retirement homes if we're
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  Speaker 1: our retirement funds, if we're a spouse of an earner
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  Speaker 1: of a wage earner, there's different things like that, depending
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  Speaker 1: on where we're at and you're listening to this podcast
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  Speaker 1: and what year and all of that. I'm not a CPA,
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  Speaker 1: so I can't say positively, but you'll have to do
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  Speaker 1: some research on that. Some built successful careers but still
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  Speaker 1: carry a total, huge bag of anxiety around their money.
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  Speaker 1: Many women secretly wonder will I be okay and I
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  Speaker 1: really ever retire? What will my life even look like?
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  Speaker 1: I know a lot of women come to me with
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  Speaker 1: will I be a bag lady? I had one friend
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  Speaker 1: come to me, will I be eating cat food? Just
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  Speaker 1: I want to do anything not to be eating cat
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  Speaker 1: food in retirement. These are obviously subconscious, unconscious beliefs that
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  Speaker 1: we have store way not here from God only knows where.
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  Speaker 1: So we need to estivate these. This is where my
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  Speaker 1: diamonds come in. Right. We are a lump of hole
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  Speaker 1: until we aestivate this under pressure and we turn into
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  Speaker 1: shiny diamonds when we absolutely know where we're at and
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  Speaker 1: we have a plan for our retirement. Now I say
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  Speaker 1: the word retirement, but I just want to say freedom,
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  Speaker 1: financial freedom, and I want feminine financial freedom because it's
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  Speaker 1: not only the numbers for the financial freedom, but it's
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  Speaker 1: also the feeling that goes with it. Our emotions have
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  Speaker 1: to be ready for our financial freedom because we won't
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  Speaker 1: get there until our emotions are there first. That's where
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  Speaker 1: money coaching comes in, y'all, just saying, so today, I
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  Speaker 1: want to help you shift from this scary something retirement whatever,
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  Speaker 1: into something intentional, because retirement is not just a math
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  Speaker 1: equation or financial freedom. As I said, it's a lifestyle conversation.
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  Speaker 1: It's an emotional conversation, it's a confidence conversation, and most importantly,
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  Speaker 1: it's not about the zeros. It's what we can do
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  Speaker 1: with the zeros for the rest of our life. So
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  Speaker 1: why is it so different for us? Well, statistically, guess what,
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  Speaker 1: we live longer. We live a lot longer. Women also
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  Speaker 1: are most likely to you know, be caregiving throughout our lives.
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  Speaker 1: Earn less, there's still a gap. There's still a pay
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  Speaker 1: wage gap. So we're making less money than men, which
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  Speaker 1: means our social security is going to be lower, which
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  Speaker 1: means our retirement plans are probably going to be lower
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  Speaker 1: because we're putting, you know, fifteen to twenty percent into
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  Speaker 1: our retirement plan, so that's going to be lower. We've
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  Speaker 1: been divorced maybe widowhood where we lose that second wage
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  Speaker 1: earner in our life and we delay putting ourselves first.
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  Speaker 1: That's the biggie. We do not put ourselves first and
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  Speaker 1: our future first. And we also carry a lot more
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  Speaker 1: money stress around our decisions, and so we don't make
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  Speaker 1: decisions early, and we don't make decisions confidently, and we
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  Speaker 1: might not make the right decisions. And that's why I
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  Speaker 1: do love everyone to have someone to I say, money
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  Speaker 1: coach or financial advisors, just say it, but I have
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  Speaker 1: somebody to talk to about this. We can't just keep
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  Speaker 1: it all up on our head. It never goes right
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  Speaker 1: when we do that. Many women weren't encouraged to learn investing,
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  Speaker 1: retirement income, or financial planning growing up, right, the little
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  Speaker 1: boy was taken aside to learn about money and what
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  Speaker 1: money is, and maybe even investing and earning compound growth
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  Speaker 1: and rate return and you know what is standard deviation
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  Speaker 1: and what is even the stock market? What is stock right?
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  Speaker 1: What is a bond? Like? What is a mutual fund?
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  Speaker 1: We have no idea. Instead, we were taught to survive.
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  Speaker 1: We were taught to just do the basics of keeping
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  Speaker 1: the house, cooking, cleaning, maybe just get a job In fact,
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  Speaker 1: I hear that so many times. I even experienced it
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  Speaker 1: with my husband. You need a job, you need a job, No, no,
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  Speaker 1: not necessarily. If you have a side hustle, you can
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  Speaker 1: turn that into a business easily, or a second business
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  Speaker 1: or a third business. We just need income and we
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  Speaker 1: need to manifest our wealth. We need to look at
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  Speaker 1: things differently than just go get a paycheck. Now. I
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  Speaker 1: do believe emotions are different for business owners than they
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  Speaker 1: are employee minded people, and that is wonderful. We all
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  Speaker 1: need both. We need business owners, we need visionaries, and
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  Speaker 1: we need employee people that want to come to work
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  Speaker 1: and support that vision. We have to have that, so
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  Speaker 1: it's not a bad thing. It's a great thing, and
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  Speaker 1: it makes them feel better. It's kind of like if
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  Speaker 1: you're a morning person or a night person, you're not
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  Speaker 1: going to change your circadian rhythm, right. That is the
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  Speaker 1: way you were built. So sometimes it is the way
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  Speaker 1: you were built. You need that paycheck coming in all
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  Speaker 1: the time. It's a little gary to go become a
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  Speaker 1: business owner. So you might want to do that as
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  Speaker 1: a side hustle only even and that could be your
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  Speaker 1: creative outlet. But know who you are and know yourself
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  Speaker 1: and that is okay. When we start thriving financially, what
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  Speaker 1: happens we become intelligent, capable women who still maybe feel
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  Speaker 1: a little nervous about talking about retirement makes sense? Right,
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  Speaker 1: That's more common than you think. Retirement is not just
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  Speaker 1: leaving a job or stopping the income coming in. It
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  Speaker 1: literally is who am I? Right? Who's my identity? I
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  Speaker 1: know men do with this as well. What gives me purpose? Now?
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  Speaker 1: The kids are usually grown and grown and gone if
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  Speaker 1: you've even had kids? Right, what gives me purpose now?
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  Speaker 1: Will I feel lonely? Will I feel useful? Will I
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  Speaker 1: have a community? We do a lot about conversation. So
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  Speaker 1: who am I going to talk to when I retire
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  Speaker 1: or I'm not working for that company any longer? What
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  Speaker 1: if something happens medically? The number one concern right now
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  Speaker 1: is how to do I pay for medical before my
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  Speaker 1: Social Security and Medicare kick in? And I actually have
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  Speaker 1: a lot of people that retire early and we plan
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  Speaker 1: for that because it's going to be a cost and
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  Speaker 1: we need to have that money bucket to take care
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  Speaker 1: of that medical What if I run out of money?
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  Speaker 1: I mean it's scary, right, that's so scary, like, what
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  Speaker 1: I have to go move in with my kids? Am
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  Speaker 1: I going to be a burden on my family if
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  Speaker 1: I never had kids? Where do I go at that point?
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  Speaker 1: Do I have to live in those horrible places of
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  Speaker 1: the three hawks and a cot? Right? All of these things.
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  Speaker 1: Nobody talks about the emotional side of these decisions, and
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  Speaker 1: it is a huge emotional transition. Many women don't actually
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  Speaker 1: fear retirement, They just fear the uncertainty, right, they'd rather
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  Speaker 1: just get up and go to work every day. I
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  Speaker 1: have a friend that has a friend that has suffering
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  Speaker 1: from stage four cancer, like there's no it's terminal, and
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  Speaker 1: she's still working because it gives her purpose. Right, she
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  Speaker 1: has something to do every day, and she feels like
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  Speaker 1: if she stops that, and it's kind of giving up
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  Speaker 1: on her life. So working gives this a purpose that
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  Speaker 1: gives us a life, It gives us community, gives us
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  Speaker 1: a lot. So we don't want to ignore that. We
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  Speaker 1: definitely want to look at that. But retirement's not just
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  Speaker 1: about the numbers, it's about the whole emotional, right, So
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  Speaker 1: when we're planning, we want to look at the financial
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  Speaker 1: preparation and the lifestyle preparation. Because you can have the
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  Speaker 1: money but still feel completely lost, and when you have purpose,
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  Speaker 1: you can feel that way but then feel financially stressed.
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  Speaker 1: So we need both. The goal is alignment between both.
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  Speaker 1: One of the biggest mistakes people make is planning just
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  Speaker 1: for the numbers and releaving the lifestyle out of it.
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  Speaker 1: So we're going to look at that today, Right, what
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  Speaker 1: do you actually want your life to look like? Do
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  Speaker 1: you want to travel? Do you want simple? Do you
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  Speaker 1: want all your accounts in one place? Do you want
• 12:44
  Speaker 1: all your bill pay on? Do you want things just
• 12:47
  Speaker 1: simple so you can go take that RV trip around
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  Speaker 1: the country. Do you want more time with your grandkids?
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  Speaker 1: If so, we're going to do some cost analysis around that.
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  Speaker 1: What does that look like. Are you going to downsize?
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  Speaker 1: Are you going to move closer to the family? Hey?
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  Speaker 1: Are you looking for a second act? Right? Maybe even
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  Speaker 1: a second career. Is your hobby that you've been doing
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  Speaker 1: this whole time? Maybe cooking healthy for your family? Maybe
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  Speaker 1: you want to turn that into cooking healthy for your
• 13:11
  Speaker 1: neighbors and friends. That'd be great. Do you just want
• 13:14
  Speaker 1: to volunteer? I met with a gal that definitely wants
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  Speaker 1: to volunteer. That's great. Do you want to start a
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  Speaker 1: larger business? Do you want just creative product projects? Like me?
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  Speaker 1: When I scale down, retire is not going to be
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  Speaker 1: a word for me. It's going to be more feminine
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  Speaker 1: financial freedom. When I hit that plateau, scale back my
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  Speaker 1: time in my business. I want to learn how to
• 13:34
  Speaker 1: do pottery.
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  Speaker 2: We have a.
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  Speaker 1: Pottery shd here shit for lack of a better word,
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  Speaker 1: and a wheel and all that stuff. There's a lot
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  Speaker 1: to learn with it. I'm going to learn how to
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  Speaker 1: play maginal right. These are the things that I'm planning
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  Speaker 1: on doing creatively to keep my brain going and purpose
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  Speaker 1: going and all that playing pickuball every morning. Woo woo.
• 13:52
  Speaker 1: That's me. I'm semi retired now because I love my pickaball. Right.
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  Speaker 1: Are we just gonna get to renew our relationship with
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  Speaker 1: friends and have coffee more? Whatever it is. We want
• 14:01
  Speaker 1: freedom from stress, right, So that's why we kind of
• 14:03
  Speaker 1: want to plan all this out. Hope that sounds fun
• 14:06
  Speaker 1: for y'all because I want you to enjoy it. Play
• 14:08
  Speaker 1: music more, crank it up inside the house, right, don't
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  Speaker 1: wait till you're financially free at that point or retirement,
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  Speaker 1: do it now? This is going to become more meaningful
• 14:18
  Speaker 1: for you when we stop asking how much money do
• 14:21
  Speaker 1: I need and start asking what kind of life do
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  Speaker 1: I really want to create? Because everything changes now. I
• 14:29
  Speaker 1: know healthcare and long term care are huge concerns later
• 14:33
  Speaker 1: in life, and women tend to be worried much more
• 14:35
  Speaker 1: about the healthcare costs, which is a total valid concern, right, Prescriptions, caregiving, vision, dental,
• 14:43
  Speaker 1: all that great stuff. This matters. Many women watch your
• 14:46
  Speaker 1: parents' age silently thought, I never want to become a burden, right,
• 14:49
  Speaker 1: We never want to become a burden. That's why retirement
• 14:52
  Speaker 1: planning should always include conversations around the healthcare costs and
• 14:56
  Speaker 1: medicare planning between now and sixty five, and then after
• 15:00
  Speaker 1: sixty five long term care considerations. My mom had a
• 15:03
  Speaker 1: couple of strokes about five years ago. She's doing great.
• 15:06
  Speaker 1: Her short term memory is gone. She's ninety three. Her
• 15:09
  Speaker 1: body's great, she's walking all over the place, her health
• 15:11
  Speaker 1: is great. She's only on what four medications, like she
• 15:15
  Speaker 1: could live for a lot longer, but we have to
• 15:18
  Speaker 1: plan for that care. We spend a lot of money
• 15:21
  Speaker 1: in the last years of our lives. Housing choices are
• 15:24
  Speaker 1: you down to? You know, maybe even share with a
• 15:28
  Speaker 1: friend later in life. Not want to live alone if
• 15:31
  Speaker 1: you're single, making sure that you have an extra room
• 15:35
  Speaker 1: if you want to have a caregiver. Come in support systems.
• 15:39
  Speaker 1: We need help. We need to make sure that people
• 15:41
  Speaker 1: know about this stuff. If you're not going to be
• 15:43
  Speaker 1: in a retirement community where there's like I'm in a
• 15:46
  Speaker 1: fifty five and older community, So there's lots of education
• 15:48
  Speaker 1: around everything around here, which is great, but we need
• 15:52
  Speaker 1: the support systems around later years, emergency services. You know,
• 15:57
  Speaker 1: what do we call? Where do we go? Like I
• 15:59
  Speaker 1: moved to a whole new state. I needed to know
• 16:01
  Speaker 1: what the hospitals were around here in case something happening.
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  Speaker 1: Planning creates piece, y'all. It creates peace of mind, which
• 16:09
  Speaker 1: means we have more room for abundance and fun. It's amazing.
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  Speaker 1: I even did my Neptune Society for my end of life,
• 16:17
  Speaker 1: so my daughter has to call one number and that's it.
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  Speaker 1: They take care of everything else. So I that's done
• 16:23
  Speaker 1: and taken care of. That's a huge burden off my kids.
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  Speaker 1: I mean, my parents did it for me, and when
• 16:29
  Speaker 1: my dad passed, it was easy, so easy, and it
• 16:32
  Speaker 1: was so much better because then I could come for
• 16:34
  Speaker 1: my mom and be there for my mom. Avoiding the
• 16:36
  Speaker 1: conversation just creates anxiety. So I employ you all to
• 16:40
  Speaker 1: have this conversation. So thoseial security is one of the
• 16:43
  Speaker 1: biggest fears, right and income confident, will I have enough
• 16:47
  Speaker 1: monthly income coming in, not just aspets on paper. But
• 16:50
  Speaker 1: we want to feel good, right, We want to feel
• 16:53
  Speaker 1: good because I've heard from many, many, many, many, many
• 16:56
  Speaker 1: women if their advisers sat down with them and said, oh,
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  Speaker 1: you're okay, honey, throw my own hand, you're fine, You're
• 17:02
  Speaker 1: going to be just fine, You're all good, and they
• 17:05
  Speaker 1: still have so much anxiety. Like I just had another
• 17:08
  Speaker 1: retirement seminar here and there was like three women said,
• 17:13
  Speaker 1: I haven't a financial advisor, and I still don't know
• 17:15
  Speaker 1: if I'm okay because the advisor's not going into enough
• 17:18
  Speaker 1: in detail that makes sense for them. And or it's
• 17:22
  Speaker 1: just emotional woo woo. That's where I come in, Right,
• 17:25
  Speaker 1: If it's all emotional, that's when we need to take
• 17:28
  Speaker 1: care of our beliefs and our wounds and heal that
• 17:31
  Speaker 1: so that you can actually enjoy that that later years
• 17:34
  Speaker 1: in life, our fourth quarter or whatever second chapter, whatever
• 17:36
  Speaker 1: you want to call it right, So we need to
• 17:38
  Speaker 1: understand social security timing. There's a lots of choices. We
• 17:43
  Speaker 1: definitely want to understand that to plan better for that
• 17:46
  Speaker 1: income sources. What other income sources can we create? I
• 17:50
  Speaker 1: know we have annuities. I love annuities. I know we
• 17:53
  Speaker 1: have cash value life insurance policies. We have individual pensions.
• 17:57
  Speaker 1: If you're ever lucky to have a pension. The social
• 17:59
  Speaker 1: Security that's one, right, I mean it could be anything.
• 18:04
  Speaker 1: It could be a loan that you put out years
• 18:05
  Speaker 1: ago to somebody and your family's going to pay you
• 18:07
  Speaker 1: back now. And we want to make sure that we
• 18:10
  Speaker 1: know our spending plans. So I live, I'm from California,
• 18:13
  Speaker 1: and so a lot of people downsize and get out
• 18:15
  Speaker 1: of California. And so when they're planning, you know, we plan,
• 18:18
  Speaker 1: you know, years in advance. We go, okay, let's look
• 18:21
  Speaker 1: at this state. Let's look at this state. Let's look
• 18:22
  Speaker 1: at this city. And then on their vacations once a year,
• 18:25
  Speaker 1: they go and travel there and see what it's like,
• 18:28
  Speaker 1: see if that's where they want to be, and then
• 18:29
  Speaker 1: we get the cost and we have a plan, A
• 18:31
  Speaker 1: plan B, a plan C, so we can see what
• 18:34
  Speaker 1: it's going to be spending changes throughout the country. One taxes, y'all,
• 18:40
  Speaker 1: taxes is huge. We never know what's going to happen.
• 18:43
  Speaker 1: We never know what Congress is going to do with
• 18:45
  Speaker 1: our tax brackets. We never know how many things it's
• 18:48
  Speaker 1: going to attach to. We just don't know. So that's
• 18:51
  Speaker 1: an unknowable, right, So we have to just be aware
• 18:54
  Speaker 1: of where we're at currently and then plan for you know,
• 18:58
  Speaker 1: worst case scenario, middle, middle of the road, and then
• 19:01
  Speaker 1: the greatest scenario. As long as we planned for it
• 19:03
  Speaker 1: all that it won't hurt so much when it happened.
• 19:05
  Speaker 1: Healthcare expenses, we want to plan for that. Inflation, oh
• 19:10
  Speaker 1: my goodness, ambition is a killer, right, another unknowable. All
• 19:13
  Speaker 1: we can do is plan for it and then let
• 19:15
  Speaker 1: it go. Just let it go. This is what a
• 19:18
  Speaker 1: lot of people don't do in retirement, is that emergency planning.
• 19:21
  Speaker 1: Emergency meaning catch money market DD that you can get
• 19:25
  Speaker 1: to or cash in my opinion, because it's going to
• 19:29
  Speaker 1: happen now, So we need to be able to have
• 19:32
  Speaker 1: money somewhere, a line of credit, credit cards, bank, something
• 19:37
  Speaker 1: that you know, something happens, and like me, I fell
• 19:39
  Speaker 1: down a few years ago and I knocked up my
• 19:42
  Speaker 1: front teeth. Yeah, I did that, y'all, and so I
• 19:45
  Speaker 1: had to have surgery within two weeks, you know. Ten grand.
• 19:49
  Speaker 1: Then I needed to go to the dentist. Another ten grand.
• 19:52
  Speaker 1: Then I needed to put caps on and stuff. A
• 19:55
  Speaker 1: few months later, another ten grand. Like I need to
• 19:57
  Speaker 1: have that ten thousand sitting around all together, Like thirty
• 20:00
  Speaker 1: five thousand dollars like that had to be sitting around
• 20:02
  Speaker 1: somewhere so that I could get to it, especially the
• 20:05
  Speaker 1: first ten thousand. The rest you can usually get to. Right,
• 20:08
  Speaker 1: So all of this conversation does not have to happen
• 20:12
  Speaker 1: all the time. It's a plan you updated if things change.
• 20:15
  Speaker 1: Other than that, you need no need to stress about it.
• 20:18
  Speaker 1: It's just going to help you create more clarity and control.
• 20:21
  Speaker 1: And I want to say something really important here. Financial
• 20:24
  Speaker 1: confidence does not come from perfection. It comes from just understanding. Okay,
• 20:31
  Speaker 1: you do not have to know everything overnight. You just
• 20:33
  Speaker 1: simply need to have a plan that helps you feel
• 20:36
  Speaker 1: more secure, and we can update it and edit it
• 20:38
  Speaker 1: as we go. Retirement and financial freedom should make you
• 20:41
  Speaker 1: feel alive, excited. It's not supposed to feel like the
• 20:45
  Speaker 1: end of life. It should make you feel like freedom,
• 20:48
  Speaker 1: and you live more intentionally, not only going to make
• 20:51
  Speaker 1: a difference now, right, some women finally start traveling, build relationships,
• 20:56
  Speaker 1: start businesses, volunteering, explore more habits, make health more important.
• 21:03
  Speaker 1: Probly like that, find peace. We just govern themselves, right
• 21:07
  Speaker 1: like who am I? And why am I? Who I am?
• 21:10
  Speaker 1: And then I like to be the matriarch of the family.
• 21:13
  Speaker 1: Make sure your children know this. If you have family
• 21:16
  Speaker 1: or nieces and nephews, make sure that they know this,
• 21:19
  Speaker 1: and you pass down the story so that it can
• 21:22
  Speaker 1: pass down to generations to generations. Because y'all, we've lived
• 21:26
  Speaker 1: through a lot, and we've lived through a completely different
• 21:28
  Speaker 1: life than our kids are living through or our family
• 21:32
  Speaker 1: are living through. Right, So today I want you to
• 21:35
  Speaker 1: remember this. Retirement planning for women is different. It just
• 21:40
  Speaker 1: is because women lives are different. Planning is different, and
• 21:45
  Speaker 1: our emotions are different. We carry experiences, emotions, responsibilities, and
• 21:53
  Speaker 1: transitions that often don't fit inside a basic retirement calculator.
• 21:58
  Speaker 1: Let's face it, emotions are not in that numbered calculator, y'all.
• 22:02
  Speaker 1: It's just not. So That's why retirement planning is not
• 22:05
  Speaker 1: just about the numbers. It's not about the zeros it's
• 22:09
  Speaker 1: about confidence, it's about security, it's about freedom, another word
• 22:14
  Speaker 1: that I love. It's about purpose, it's about lifestyle, it's
• 22:18
  Speaker 1: about peace of mind. And again, it's not about the zeros.
• 22:22
  Speaker 1: It's about what we can do with the zeros for
• 22:24
  Speaker 1: the rest of our life, because at the end of
• 22:27
  Speaker 1: the day, the goal is not to survive retirement. The
• 22:29
  Speaker 1: goal is actually to live live all the way up
• 22:32
  Speaker 1: until the end. I just met with a gentleman and
• 22:34
  Speaker 1: he said, I want my last check to bounce. I
• 22:37
  Speaker 1: can't plan that good for you, but we're going to
• 22:39
  Speaker 1: get close to it. I hope you all enjoyed today.
• 22:42
  Speaker 1: Women in retirement planning is different, and I hope you
• 22:45
  Speaker 1: make it a priority because you're going to feel so
• 22:48
  Speaker 1: much better. I love it. I want you to be
• 22:50
  Speaker 1: able to walk away from your retirement plan saying I
• 22:53
  Speaker 1: rock my Finances.
• 22:55
  Speaker 2: We appreciate you joining us today and don't forget to
• 22:58
  Speaker 2: subscribe to the Rock my Finances YouTube channel for more
• 23:01
  Speaker 2: engagement and bonus content. Tell me what is your money story?
• 23:06
  Speaker 2: Let's find out with Jennifer right here on K FOURHD
• 23:10
  Speaker 2: Radio and Talk for TV. It's not about the zero,
• 23:13
  Speaker 2: It's about the F word. Feelings, feelings, Jennifer can't wait
• 23:17
  Speaker 2: to explore with you next week. Until then, let's all
• 23:21
  Speaker 2: say I rock my finances