Protecting your future

It's important for a financial strategy to include investments for current and future goals, such as retirement. It's just as important to protect those investments against the potential impact of unexpected life events – such as serious injury, long-term illness and death. Building protection into your financial strategy can help you preserve your lifestyle and emotional well-being.

The growing need for women to protect against the unexpected

You may not see yourself as being primarily responsible for your family’s financial well-being. But you're probably heavily involved in managing your family’s money – including earning a salary, paying bills and deciding on purchases. With that as a starting point, there are ways to help protect your present and future goals against unexpected events.

It can be as simple as participating in one-on-one meetings with a financial advisor to identify goals and what matters most to you, and then incorporating protection into your budget. It’s never too late to take note of potential risks and do something about them.

Women's financial influence is stronger than ever and growing.

Protect your ability to earn more

If you work outside the home, one of the most valuable assets you provide your family is your ability to earn income. If that ability were derailed by an unexpected accident or extended illness, Social Security or work-sponsored programs may help if you meet their qualifications, which can be strict. But they may not provide sufficient income replacement to maintain your family’s lifestyle. Additionally, your contribution to your family’s income could be completely lost due to premature death.

A solid financial strategy includes solutions to maintain your family’s lifestyle if you were to lose your income for an extended period of time. While it may be an unpleasant subject, taking action now will put you in a greater position of control if you or your family ever need this kind of support.

Protect your family's day-to-day needs

While the above focuses on your work outside the home, you have another significant effect on your family’s budget: the duties you provide as a mother. In that role, you’re often called on to cook, chauffeur, keep house, tutor and care for young children. You can take measures now to ensure your family could pay for this care if you weren't there to provide it.

Protect your level of control over future health care needs

It's important to prepare for long-term care while you’re younger and healthier – and potentially have more flexibility with your expenses. Would you prefer to receive this care at home, in an assisted living facility or in a nursing home? Will your family provide your care or would you seek professional services? Will you be able to afford your first choice? Read Three Reasons Long-term Care Is Important for more information.

How we can help

While taking steps to prepare for the unexpected may not seem like an exciting gift to your family, it can be one of the most loving and thoughtful actions you can take. Contact your Edward Jones financial advisor to schedule time to talk or view our recent webinar “Women: Take Charge of Your Financial Future”.