June Power Hour – Men and Money

June Power Hour

 

 

 

Men have historically been accepted to be the breadwinner and CEO or the house and while today that is not always the case, men often still feel that responsibility.

The fact is, men and women are very different in how they approach many things, including financial planning and wealth management.

With that in mind, and in honor of Father’s Day, we will be dedicating this Power Hour to Men and Money where we will focus on financial issues from a man’s perspective.

The battle of the sexes and how to communicate with your spouse (mini review from Women and Wealth)

He Said, She Said

Men

  • Make quick decisions on hot tips.
  • Men are more analytical and tend to take more risks.
  • Feel money arguments as lack of trust.

Women

  • Take a more holistic approach to planning.
  • Feel more burden with the impact of financial decisions and are more conservative.
  • View arguments about money as issues of power and control.

Men are like waffles, women are like spaghetti. Man can compartmentalize, like the boxes of a waffle where all flows together for women just like you cannot follow a noodle from one end of the plate to the other.

How to take the right risks for the best outcomes

The difference of principle risk vs Volatility Risk.

The wisdom in taking gains and playing with house money.

Finding Value in bonds today with attractive yields – knowing when to go with shorter duration and when to shift to longer duration.

Knowing your upside and downside potential in any investment.

Current valuations are down, which opens up opportunities for companies with a level of certainty – those with good earnings, quality companies.

The issues with indexing – if everyone is doing it that is a red flag, don’t follow the herd!

AND – Guy reveals a couple highlighted examples.

Being a good steward of your wealth (and caring for your family)

Being a good steward doesn’t mean you can’t take risks, it is knowing your income is protected, you are minimizing your taxes and ensuring you and your wife have a plan in place so both of you are confident and comfortable.

The nuts and blots of retirement and estate planning

Having each of the four areas of your financial life in order is essential as they all work together. Like gears turning, if one area is off it will affect all other areas.

 

 

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