Phase 2 - Real Estate 101 (How to or one big idea)

Here Is Why You Need To Take Charge Of Your Finances Today

Marcia Cuenca
December 13, 2021
Here Is Why You Need To Take Charge Of Your Finances Today

Earlier this year on the podcast we were joined by Suzanne Wheeler, Managing Director at Mariner Wealth Advisors. Suzanne has been in the financial industry for more than two decades. She has devoted her time to helping her clients create financial goals and a plan to achieve those goals.

During our interview with Suzanne she shared her experience especially as it pertains to working with women and helping women not only find their voice in the financial planning industry but also in their own careers.

It’s not a huge secret that the financial planning industry has been a male-dominated world, but a lesser known fact is that when it comes to retirement planning and investing, women, both single or within a relationship, have historically not been found at the ‘decision making’ table.

Planning For Women

But Suzanne Wheeler is starting to see a shift in the disparity.

Women are slowly starting to take a more active role in their investments, also within their careers.”

-Suzanne Wheeler 

Women are becoming leaders in their industry, taking more control of their salaries and careers.

Suzanne has had the opportunity to work with women and help them understand their value in the workplace and find their voice in the financial areas of their household.

And, for single women, Suzanne makes it a priority that they're taking care of themselves.

Investment Gap Within A Relationship

When it comes to retirement planning within a household, challenges can arise from the gap between partners in both time commitment and salary difference.

Suzanne calls this gap the Investment Gap.

  1. Time-  One party does not commit the time to the investment process. Suzanne reminds us that goals are designed by couples, not individually.
  2. Salary- Salary can be a touchy subject within a household. Especially any disparity in salary between partners who share similar job titles. Even more so considering women earn less than men in nearly all occupations.

The emotions involved when factoring in time commitment, money, and relationships can be a recipe for disaster.

But Suzanne is quick to point out that with the right planning and communication you can achieve your financial goals both in a relationship and as an individual.

Steps To Take Today To take Charge Of Your Finances

Suzanne guides us through steps towards developing a financial plan and taking charge of your finances today:

  1. Start- Start today, make a plan.
  2. Dream- Start dreaming and ask yourself these questions:

    1. What would life look like? 
    2. What are your goals? 
    3. What are your resources? 
    4. How can you start managing towards those goals?
  3. Goal Setting

    1. Purpose-  What is the purpose of the goal?
    2. Method- What's the method to achieve it?
    3. Outcome- What do you expect the outcome to be if you achieve the goal?

When creating your plan, it’s easy to dwell on past financial mistakes and lost opportunity. Suzanne was quick to point out that planning is about the future, not the past, and that you should be ready to offer yourself, and if you're planning with a partner, your partner, some grace as you move forward with your new plan.

Don't look back and beat yourself up on mistakes, learn from them, and move forward.”

-Suzanne Wheeler 

Learn More About Mariner Wealth Advisors

Visit Mariner Wealth Advisors, click here

Listen To The Full Episode, click here

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