Three keys in developing the confidence to handle your personal finance needs – Financial Post

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You may feel as though your world has been pulled out from beneath your feet when life changes unexpectedly, whether through the loss of a loved one, a torn marriage, dissolving the family business or an unforeseen illness. Over the past 25 years as an investment adviser, I’ve become a safety net for many professionals when helping a family or individual through difficult times.

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Working with women in varying circumstances, from a stay-at-home mother of two, whose high school sweetheart never returned from a bike ride, leaving her with a mountain of debt, to a woman in her sixties who built up the courage to leave her unhappy marriage yet never made a financial decision in her life, I understand having financial confidence is not innate.

I’m often asked “Where do I begin?” when clients take on newfound financial responsibility, either by choice or by consequence. These women have courageously committed themselves to learn a new language and a new way of thinking, the weight of their families’ dreams and goals now resting on their shoulders. To dampen a seemingly daunting journey, I begin by guiding them through the following:

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Become empowered

Decide what financial independence looks like for you. Is it being able to pay your bills and save? Is it selling your business in eight years for $10 million?

Educate yourself

Have a financial plan and take the time to understand it. Having a sense of your financial position will give you peace of mind when you are …….

Source: https://financialpost.com/personal-finance/three-keys-in-developing-the-confidence-to-handle-your-personal-finance-needs