By: Karyn Damschen

You had a plan. You’ve been moving down the path toward your goals, investing all the while. And then, somewhere along the way, something changed. You found the path was no longer the one you wanted to be on so now you’re navigating a mid-life course correction. This could be making a career change, getting divorce papers, selling/buying a business, or pursuing a passion. The good news is, studies show adults making a mid-life career change can be very successful and report making the move made them happier. Before you make the big leap, let’s go through some of the steps and questions anyone embarking on a major life change might consider to ensure a smooth transition to the next chapter of their life.

By: Karyn Damschen

The American workforce is divided almost down the middle between men and women. The drive for women to succeed and advance in their careers has grown substantially and with that comes the need for more time in the “office” and more “balance” with the duties of domestic life. But, this is not exactly what is happening. Statistically, women continue to take on most of the family and domestic responsibilities, in addition to working full time, leaving little time for any kind of self-care in the way of seeking help when they need it or simply taking a moment to regroup, go to the gym, or take a meditation class. It may be in part because of this increase in overall workload that suicide rates among women age 45-60 have jumped dramatically in the last two decades.[i]

By: Karyn Damschen

Communicating with your spouse when it comes to finances and planning for the future can have a positive impact on, not just your financial well-being, but your relationship.

According to the National Endowment for Financial Education, 31% of Americans admitted that they have lied to their spouses about finances. Financial infidelity can lead to lack of trust in a relationship and can diminish open communication about other things beyond finances. When creating a strategy for long-term financial plans it is paramount that couples share the responsibility and maintain an open dialogue with each other and their financial advisor.

By: Karyn Damschen

Much has been written about the reasons women investors arrive at retirement with less money than men. One of the most obvious reasons is that women are likely to take time off during prime earning periods to have children or take on the role of caretaker for elderly relatives. And despite significant progress in pay equality over the past few decades, women continue to make about 80% of what is paid to their male counterparts. All of these factors result in women being unable to squirrel away as much money as men during their top earning potential years.