Financial Independence

Andrea Patrick, Financial Advisor, Assistant Vice President-Investments at Wells Fargo Advisors in The Villages, offers financial advice for today’s woman. 

When I was young, I made the decision to save my lunch money rather than spend it; by doing so, I unknowingly embarked on a financial journey that would forever change my life. 

I remember tiptoeing through the kitchen each morning to make a brown bag lunch and then stashing my lunch money in a shoe box under my bed. After a while, I went to my mother to explain I had saved almost a thousand dollars, and I wasn’t sure what to do now. She was baffled as to where the funds came from and laughed as I revealed how the shoe box became so full. Afterward, she knew she could use my desire to save as a way to teach me how important it is to become an independent woman who is knowledgeable about the world of finance. 

Now, having worked 16 years in the financial services industry, I understand how extremely valuable her lessons were and continue to be today. Regardless of whether it is for ourselves or our families, we, as women, play an ever-growing role in making financial decisions. Although these are only some of the many financial considerations for women, here are some simple steps you can take to become more knowledgeable about your finances and plan for your future needs.

Plan for a longer retirement. 

Did you know women often face more years in retirement than men? To prepare for living longer in retirement, you need to develop and implement financial strategies focused on your long-term needs. Decide what your goals are, develop a plan and execute strategies to help you track your progress.

Plan for the what-ifs in life. 

Consider how your finances might change if you become the sole caregiver of a spouse or loved one. Ask yourself what impacts such a situation would have on your time and money. 

Ask for guidance from a professional. 

Working with a financial advisor can provide you with advice as you work to make important financial decisions. It does not pull away from your own abilities but rather supplies you with an additional resource to help you prepare for the future.

No two women are the same when it comes to managing finances. Whether you are confident about your finances or just starting to dive in, don’t forget the importance of evaluating your goals, developing a plan and implementing strategies specific to your short- and long-term objectives. It is never too early to begin your journey toward becoming an independent woman who is knowledgeable about the world of finance. 

Wells Fargo Advisors

3309 Wedgewood Lane, The Villages(352) 653-5500 

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company
Posted in Ocala Style Promotional Features

Share this post


What's New at Ocala Style

Ocala Cooks | Lisa Dorsey

Lisa Dorsey is a longtime resident of Ocala who loves...

Ocala Cooks | Leslie Callahan

Leslie Callahan is a patient advocate at The VA Villages...

Ocala Cooks | Scott Mitchell

Scott Mitchell is the director of the Silver River Museum...

Ocala Cooks | Maggie Weakley

Maggie Weakley and her husband, Kent, both noted local artists,...

Transplanting for Summer

May is a good month to move plants around your...

From Stranger to Friend (in one conversation)

Turns out, the family’s dog walker was stealing the expensive...