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Smart Moves for Women Business Owners
Mother’s Day is upon us. If you’re a mother, you’ll enjoy the recognition you get from your family on this day. And given the health concerns caused by the coronavirus, your appreciation of family may be even greater this year. As we all know, mothers have a difficult job. And many mothers also run their own businesses – another demanding task made even more difficult these days. What special challenges do women face who embark on careers as business owners?
Of course, motherhood itself presents a major challenge. As a society, we have not achieved gender equity yet, in terms of family responsibilities, so mothers – even busy business owners – still face time constraints and interruptions from work to care for children. And it’s not just children, either – the vast majority of caregivers for elderly relatives are women, according to a study from Northwestern University. So, many women business owners may be coping with multi-generational family issues.
You can’t change the demographic pressures you may face, but, as a business owner, you can take some steps to help improve your financial outcomes. Here are a few ideas:
You’ve got some twists and turns ahead of you on the road to financial security. But planning ahead, considering various possibilities and seizing your opportunities can help you smooth out the journey.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.Edward Jones, Member SIPC
Smart Moves for Women Business OwnersShort /Radio version:
PSA: Smart Moves for Women Business Owners
TBA: May 4, 2020
Mother’s Day is upon us. As we all know, mothers have a difficult job. And many mothers also run their own businesses – another demanding task, especially during these days of the coronavirus. What special challenges do women face who embark on careers as business owners?
For one thing, many women business owners still have family responsibilities – not only for their own children, but often for elderly relatives. These duties can create a time crunch, which can affect a woman’s ability to work toward her financial goals.
If you’re a business owner, though, you can take steps to help yourself. For one thing, try to network with other women in business – you might get some valuable tips.
Another key step: Set up a retirement savings plan for yourself, such as an owner-only 401(k) or a SEP-IRA.
Also, be particularly careful when you invest. By owning a business, you’re already taking on considerable risk, so you may need to balance this out in your investment portfolio.
Planning ahead and seizing your opportunities can help you smooth out the journey toward financial security.
This is (FA’s NAME), your Edward Jones financial advisor at (Branch address or phone #).
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