Financial Planning for Single Women

Whether you’re single by choice, through divorce or widowed through the death of a spouse or loved one; whether you have young children, or grown children or no children at all; whether you have a job, or a career, or you’re about to retire or you’re just starting out – this section is for you. Here are some of the most frequently asked questions we have received surrounding financial planning for single women.

I’m Newly Single…What Do I Do Next?

Being newly single doesn’t mean you have to deal with your financial issues alone. At PDS Planning, we have the experience and expertise to listen to your questions, hear your concerns, and help provide the guidance you need to develop or maintain a well thought-out, strategic financial plan.

How Do I Know If I Have Enough?

We’ll help create financial statements that will provide a summary of your assets. We’ll facilitate the creation of a detailed income and expense report to help work through your cash flow needs, if necessary. And we’ll project how long your assets may last, taking into account inflation and a rate of growth on your investments assets. We’ll also look at other income sources such as social security, pensions, rental or business income, as well as specific expenses in areas like health care, that may have higher inflation on their costs.

How Can I Help My Children & Grandchildren Financially?

We’ll listen to your desire to help children or grandchildren whether it be to set aside funds for education or provide other financial assistance to family members. We’ll discuss the options that are available under current legislation to provide monies for education. In addition, explore gifting of appreciated assets and other techniques that can be used to address a broad range of financial matters.

As a Single Woman, What Do I Do About My Taxes?

We’ll work with you to prepare a tax projection that can aid in your decision making throughout the year. We can work with your tax preparer or recommend a CPA if needed, based on your specific situation and needs.

What If Something Happens to Me?

We’ll help you determine the right balance of disability and life insurance based on your personal situation. We will evaluate whether there are financial needs in excess of the current investment assets and life insurance. If there is an additional need, we will help to provide options that can best achieve the goals for your beneficiaries.

We will also review your estate documents, the titling of your assets and beneficiary designations to ensure that they transfer efficiently to your heirs. We will work with your estate planning attorney, or if you do not have one, we will help you select one – to insure that your estate transfers your assets in the manner you wish, and that your beneficiaries will have enough money in the event of your death.

If you are a single woman and you are looking for more information regarding your financial future, contact PDS Planning today!