By: Anne Ferrell Dalton, Wealth Advisor, Regions Private Wealth Management
Across Central Alabama and beyond, women are harnessing the power of both career and life more than ever before.
- Women are creating more small businesses and increasing representation in the C-suite.
- Women are caring for children and aging parents at the same time while balancing other unique family obligations.
- And, women are investing more outside of retirement.
With the great transfer of generational wealth underway, more women are being equipped, educated and empowered to take control of their financial futures and build a financial legacy. While no two journeys are the same for women, this holds true for everyone.
Now is the time to prepare for short-and long-term goals.
The sooner women start planning and imagining their ideal life, the easier it is to create a financial plan to achieve that vision. Regions Bank has a team of professionals and a library of resources to help women address their individual needs and work toward their financial goals. Women + Wealth, an initiative of Private Wealth Management, connects fresh insights with one-on-one guidance from a team of professionals to further support women as they move forward on their financial journey.
Consider these four steps to get started.
Step 1. Build a strong team
Make it a habit to pay yourself first, then pair that personal discipline with professional advice. A wealth advisor can help map out your financial strategy, provide guidance on retirement planning and recommend other professionals, such as a CPA or estate planning attorney. A strong team working together can help keep your financial strategy on track.
Step 2. Orient your financial goals to your life plan
Whether the vision of success centers on an early retirement, traveling with family or prioritizing philanthropic giving, make sure your financial plan supports a clear vision.
Step 3. Keep your financial and life goals flexible
Life is unpredictable. Losing a job, inheriting money, recovering from an illness or simply changing your mind could upend your plans and call for new financial strategies. Meet with your wealth advisor at least annually to review your financial plan and make adjustments if needed.
Step 4. Protect your legacy
An estate planning attorney can offer guidance on how to protect your current and future assets using trusts and other financial strategies. To protect your loved ones, consider a life insurance policy when you are relatively young and healthy. Doing so can save you money on the policy and can provide a safety net that could cover outstanding debts or funeral expenses if you pass away unexpectedly.
Regions Private Wealth Management has a team of knowledgeable financial professionals across the River Region who are ready to meet with you, discuss your goals and prepare a plan to help put you on the path toward your vision of financial success. To learn more, visit www.regions.com/wealth-management to find an advisor near you.
Regions Bank, member FDIC, Equal Housing Lender. This information is general education or marketing in nature and is not intended to be accounting, legal, tax, investment or financial advice. Although Regions believes this information to be accurate as of the date written, it cannot ensure that it will remain up to date. Statements of individuals are their own—not Regions’. Consult an appropriate professional concerning your specific situation and irs.gov for current tax rules. Investing in securities involves risk, including the risk of loss. This information should not be construed as a recommendation or suggestion as to the advisability of acquiring, holding or disposing of a particular investment, nor should it be construed as a suggestion or indication that the particular investment or investment course of action described herein is appropriate for any specific investor. In providing this communication, Regions is not undertaking to provide impartial investment advice or to give advice in a fiduciary capacity. Only traditional bank deposit products are FDIC insured.
