SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
May/June 2018
Protecting Women's Financial Contribution
Women continue to comprise a bigger part of the workforce, usually while maintaining traditional roles at home. Both roles prove women create significant economic input. Because of their economic contributions at home and away, women may need life insurance.A Snapshot
Women are involved in every facet of the workforce. According to the Department of Labor’s Bureau of Labor Statistics (BLS)*, there are 74.6 million women in the civilian labor force. Women are 47% of the workforce, and they own close to 10 million businesses. These enterprises account for $1.4 trillion in receipts.
More often than not, women combine career with motherhood. The same BLS report shows seven in 10 mothers with children younger than age 18 are in the workforce – three-quarters of them full-time. Today, mothers are the primary or sole earners for 40% of households with children under 18 today, compared to just 11% in 1960.
Figuring Value
While the value of women in the workforce continues to grow, the value of full-and part-time stay-at-home mothers is significant.
While it is relatively easy to gauge how much life insurance a person in the workforce needs, the economic value of a stay-at-home mom is a little more difficult to discern.
You might start with the cost of day care and after-school care needed for young children. Women also may don the hats of personal shopper, chauffeur, housekeeper, chef and more. If you were to pay for these services with overtime pay making up a significant part of your equation, it is easy to see how a stay-at-home mom is worth at least six figures a year.
Choosing an Amount
Of course, life insurance is about more than funding the cost of a woman’s household services. Buying a life insurance policy is a deeply personal experience, because it addresses an event we would rather not ponder. Still, life insurance is about preparing for the worst financially and hoping for the best.
It’s clear women are a growing economic force, and that they need life insurance as much as the guy in the next cubicle — or corner office. Talk to a licensed financial professional to learn more.
* Bureau of Labor Statistics Blog “12 Stats About Working Women” by Mark De Wolf, March 1, 2017
GE 131926 (12/17)(Exp 12/19)
CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
R.I.C.H. Planning Group, LLC and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.