Principal and CEO
Chesapeake Financial Planning & Tax Services
“Women need to be involved in their financial plans and have an understanding of where all of their assets are, and what they are used for,” says Certified Financial Planner™ and Certified Financial Fiduciary Elizabeth Bennett.
As a woman who has reared a child, been through a divorce and is working toward her own financial future, she forges a relationship with her clients from her own personal experiences.
“You need be in control of your finances and not leave that responsibility to someone else,” she cautions. “Knowing the types of investments that you have, the log-ins for your accounts, and sharing that information with your spouse is very important. Being involved in reviews with your financial advisor and understanding how to access those assets is imperative,” Bennett says.
“Taking responsibility for your financial wellbeing, starting at a young age, is probably one of the best things you can do for yourself. You should take advantage of your employer’s retirement plan, understand what your short-term savings need to look like and what your assets’ tax implications are. Be aware of your spending habits and where all of your money is going, whether you are single or married. As women, we know the value of delegating. My advice is to take one thing off of your plate and reach out to an advisor to get your financial house in order with someone you can trust. I am here for you,” she says.
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Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker dealer, member FINRA/ SIPC. Advisory, insurance, and tax services offered through Bay Financial Planning and Tax Services, LLC DBA Chesapeake Financial Planning, a Registered Investment Adviser. Cambridge and Bay Financial Planning and Tax Services, LLC are not affiliated.
This post is part of the Best of Women in Business 2022 special advertising section from the March 2022 issue of Boca magazine. For more like this, click here to subscribe.
