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Sound Advice: September 30, 2026

Now what?

For many women, there comes a time when financial confusion reigns.  It may come after a spouse passes or a marriage goes off the rails.  It’s the same situation for women who never married.

The questions are many.  The answers may be few.  Toward the top of the list of concerns is the issue of understanding.  Although there are always complex matters, it’s essential that all of the elements are clearly presented in a straightforward fashion. 

There’s more.  Presentation is one thing, but comprehension is another. If there’s a question, it must be asked.  Clarity is the key.  Don’t just say I get it when you don’t. 

And, it’s essential to grasp how each of the items fits in the overall situation.

In the absence of understanding, no decisions will be made.

Here are some of the most pressing questions?

What’s the smart way to handle my investments?

Where should I go for advice? A bank, stockbroker, attorney, accountant or “financial adviser?”

How should I select an adviser?

Do I need an adviser or can I do it myself?

How much will I need to support my retirement? Can my investments support my preferred lifestyle?

Do I need life insurance, how much, and where should I get it? How do I cover my mortgage, taxes, and maintenance on my home?

What other insurance do I need?

Should I buy an annuity? What kind, if any?

What do I need to know about Social Security?  When should I start taking it? What if I’m a widow? Or divorced?

What do I need to know about my IRA, 401(k) or pension?

As a single taxpayer, what changes do I need to know about?

There are many more questions.

More often than not, marriage partners do not share financial information.  The husband handles the money and the wife handles the home.  Though this situation is less common these days, it still exists.  So the wife tends to be left high and dry, wondering which direction to turn when she ends up alone.

The good news is that most of the major issues are straightforward and can be handled without extraordinary effort.  The bad news is that the inhabitants of the financial marketplace will work hard to convince you that resolution can only be provided by high-priced specialists. In the majority of the cases, that’s nonsense.

N. Russell Wayne

Weston, CT  06883

203-895-8877

www.soundasset.blogspot.com

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