Empowering Women: An Interview with Golden Girl Finance

 

 

Women see money as a sense of security – especially women who face a difficult divorce.  Golden Girl Finance cites studies of women experiencing a 27 percent decline in standard of living post-divorce, while men typically experience a 10 percent increase.  Rebuilding a financial life towards retirement can prove difficult for divorcees – Golden Girl Finance helps women develop foundations for investment that can amass long-lasting wealth for a comfortable retirement living.

 

Although Golden Girl Finance focuses its efforts on helping women, men have also enjoyed the innovative financial communications that we have developed.  Whether men are using content to engage their wives, female clients or making financial decisions with their wives, it is important for males to get their female partners involved.  Demographically speaking, readers in their 20s to their 60s have benefitted from the services of Golden Girl Finance – however, future expansion will target more young readers in hopes of building early retirement plans.

 

Golden Girl Finance has a strong emphasis on retirement savings in part under the belief that Canadians are not saving enough for retirement. OAS and CPP account for only 25 percent of all retirement income, and retiring boomers are struggling to maintain their standards of living without sufficient savings. A lackluster return on investment over the last 10 years has lead to an overall decline in retirement savings – a pattern that needs to change through continued growth of RRSPs and TSSAs for Canadians to acquire sustainable, tax-free savings.  We feel that retirement savings should almost be rebranded so there is a greater sense of urgency and seriousness in preparing for retirement.

 

I really hope we’ve been able to engage women in the industry! It is really important for women to have strong role models in an industry that has long been dominated by men.  The finance industry provides great income and wealth creation opportunities and also requires skills that may be natural to women – strong communication.

 

Women are very interested in building businesses, which can be a strong source of tax-free wealth for women, and Golden Girl Finance can shine a light on successful stories that inspire women and provide information in order to build a strong foundation and successful business. We believe that our job is to help women develop investor confidence by providing advice and education in the hope that more women will see career opportunities in finance. Our Ask the Expert section is one of Golden Girl Finance’s most engaging mentorship services as it provides an excellent sense of what issues are on people’s minds, and how to develop an effective working relationship for long-term wealth strategies.

 

We consider real estate an idyllic long-term investment that should be a part of any investor’s portfolio.  However, we would caution women and men to live within their means by refusing to take on too much debt – this is one of the most important life lessons that can be passed onto children and future generations.  Parents should teach their kids about income, expenses, and finding the right balance between the two.

 

Golden Girl Finance is experiencing rapid expansion from its initial launch in Winnipeg, Manitoba in 2010.  Since then, Susan and Laura have taken Canada by storm with the success of their first book It’s Your Money, Honey – they have also been featured in financial advisor magazines and are preparing to launch a segment on Breakfast Television entitled ‘It’s Your Money’.  They are now expanding into the US with the newly launched GoldenGirlFinance.com, featuring a portfolio tab on the website to help women engage with the stock market.  In addition, Susan and Laura have plans for a new book which they plan to discuss with the press in New York, L.A., and other major metropolitan centres.  However, even with all the success, Susan and Laura never forget their core message to their readers:  “We’re here for you – we’re here to help provide support and encouragement and inspiration and motivation.”

 

We would like to thank Susan for taking the time to speak to us about Golden Girl Finance and women in finance.