Real-Life Women’s Stories
Rachel21 years old
Single
Part-time college student
“I never thought I’d be so concerned about money at such a young age. I’m working full time, in college part time, and living at home. Trying to pay for my classes, a car, and just general living expenses is really tough for a young single person to manage. I’m really looking forward to the day when I don’t feel so bogged down with debt and can focus on my longer-term goals…like having a place of my own.”
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43 years old
Married mother of two
Marketing Manager
“What keeps me up at night is saving for college. I worry about whether we’ll get any financial aid…if not, we’re really going to struggle to pay for eight years of school—or more—for our two boys. As for our own retirement plans, it’s one more thing that keeps me up at night. Bbut putting any money in the retirement piggy bank is on hold until we feel more secure about our boys’ futures.”
See Life Stage Checklist: Women with Growing Families
Stephanie36 years old
Single
Registered Nurse
“With so many balls in the air, it's a challenge for me to focus on long-term financial planning. I participate in my employer’s pension plan, but I should be doing more. Between paying my mortgage and related bills, and managing my elderly mother’s finances, the here-and-now is what consumes my time. I know I need the help of a financial planner. I took some initial steps, but finding someone I trust is just one more ball for me to juggle right now.”
See Life Stage Checklist: Single Women
85 years old
Retired Nurse
Widow, Mother of three
I retired at age 65, shortly after my husband passed away. I’ve been living on my own in retirement for 20 years. We had many lean years when the kids were young, but managed to save money, pay tuition at private high schools, pay for two of our children to go to college, and take vacations almost every year. We did this because I managed the household budget and made sure we never spent more than we earned. My husband always looked longer term at our financial picture. And when he died, I took over that responsibility. I remember in the beginning my idea of diversification was to have three brokers helping me, and each didn’t know about the other. I was the only one with the total picture. I drove them nuts because I never stopped asking questions so that I could make informed decisions. One of my daughters helps me manage my money now, but I still make the final decisions. And I know I’ll never be a burden to my other two children because I bought long-term care insurance about 25 years ago.
Single Professional