Description

In this episode of the She Means Business podcast, hosts Gail Banaks and Ilana Santone welcome Alexandra Horwood, a leading Chartered Investment Manager at Richardson Wealth. Alexandra shares her journey into financial services, emphasizing the importance of financial literacy, especially for women. She discusses common financial pitfalls, the significance of open communication in relationships regarding finances, and the unique challenges women face in the wealth management industry. Alexandra also highlights the importance of early financial planning, retirement considerations, and teaching children about money management. The conversation concludes with a discussion on the necessity of wills and powers of attorney, stressing that everyone should have these essential documents in place. In this engaging conversation, the speakers delve into the often-avoided topics of death, wills, and financial planning, emphasizing the importance of discussing these issues openly. They explore the challenges of making guardianship decisions, the significance of speaking one's truth, and the impact of financial literacy on personal empowerment.

Takeaways

• Open discussions about finances are crucial in relationships.
• Women often fear running out of money in retirement.
• Retirement planning should consider health care costs.
• It's never too early to start saving and investing.
• Financial independence is linked to financial literacy.
• Women are underrepresented in the investment advisory field.
• Building a financial plan requires understanding personal goals.
• Communication about finances can prevent relationship issues.
• Having a will is essential for everyone, regardless of life stage. Nobody wants to talk about death, but it's crucial.
• Guardianship decisions are often the hardest part of wills.
• It's important to review your will every few years.
• Speaking your truth can lead to personal empowerment.
• Healthy habits are essential for overall well-being.
• Financial literacy is critical for women, especially.
• Discussing finances openly can strengthen relationships.
• Education is key to managing personal finances effectively.
• Instilling a strong work ethic in children is vital.
• Helping others can lead to personal growth and success.

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