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I think about my future, I slip into a dreamy state of blissful imagination.
My dreams are ripe with images of my husband flying us from our mountain
chalet to our oceanfront villa and back in his private jet. Although
amenable to playing his part, he finds my aspirations for our retirement
a little lofty. Short of winning the lottery, he’s convinced I’ll
have to settle for redeeming frequent flyer miles and AAA discounts.
Apparently, I need a better retirement plan if I’m going to prove
him wrong. I sat down with Carol Chiarito at New England Financial and discovered I’m one of many women lacking a clear direction for my finances. From retirement planning to life insurance to tax-efficient investing, lots of women need help. According to a 2007 survey by the Employee Benefit Research Institute (EBRI), only 43% of Americans have tried to determine how much money they’ll need for retirement. Considering the average person spends 18 years of life in retirement, that’s a pretty important task. But it’s not just retirement we need to worry about. What if our husband dies before us? How do we pay college tuition for three kids? What if we become disabled and can’t work? Do we need life insurance policies if we don’t work? Do our children need them? Carol says New England Financial can help answer all of these questions. In fact, she recognized the growing demand for financial strategies and products specifically for women and organized an alliance of female agents to meet this challenge. The WINE (Women in New England) Group at New England Financial has 15 members dedicated to helping women create personal and small business financial strategies. “Women understand women’s needs. We live longer than men, our goals and needs are different, and we need to be educated about our futures,” Carol says. “Women have compassion. That makes us more successful when creating relationships with clients. We know what they need to take care of themselves and their families.” The U.S. Census Bureau reports that because women outlive men by about seven years and make 23% less money than men, women have a greater risk of outliving their savings. Carol says that with a proper retirement plan, that deficit can be avoided. A native of Colorado and married with five children, Carol started New England’s Pueblo office in 2004 after a successful background in sales. She was convinced by her own New England Financial agent to pursue a career with the company. Working her way up from a tiny office to a multi-agent suite, Carol achieved the coveted Leaders status in only her second year with the company. She was the first woman in over a decade to reach this milestone in her firm. Her partner, Nohemy Miralles, joined the office in 2005 and also reached the Leaders level. Earning an invitation to the Top Women Producer’s Symposium, Carol learned right away the commitment the company has to hiring and supporting female agents. “It’s one thing to hire females. It’s another thing to keep them,” she says. She returned from the symposium so excited, she says she wanted every woman in the firm to feel that same energy. So, she organized the WINE Group. Together the members give each other confidence and tools to succeed. Each month, they host meetings with experts on work-life balance, personal goal-setting, business planning, and the sales process. Carol says they are being recognized as one of the top women’s initiative groups in the country. She believes the company’s commitment to their female agents makes New England Financial the best choice for female clients. How does financial representation work at New England Financial? Carol says the agents offer every interested client a no-obligation consultation. During that meeting, potential clients disclose every aspect of their finances, including investments, retirement accounts, insurance policies, and tax history. All information is protected and kept confidential. Based on this data, an agent compiles a comprehensive financial analysis that educates clients on their needs and exposes any flaws. A recent study conducted by the EBRI showed that over 50% of people who had their financial strategy examined ended up changing their retirement plan and financial products. New England Financial’s representatives are supported by in-house specialists to help clients meet their individual needs, including military and public employee retirement experts. Once clients have an opportunity to review their financial analysis, products and services are recommended to help clients meet their financial goals. Carol says financial success is important for everyone, regardless of income. “You don’t have to have a lot of money to visit one of our representatives,” she says. A financial strategy can help with a variety of goals, including saving for retirement, managing debt, investing your money, insuring yourself and your family, paying for college, and buying a home. New England Financial offers these services and products to help reach these goals. The personal financial services offered by New England’s agents include assistance with financial strategies, personal income analysis, disability income insurance, life insurance, and long term care insurance. Representatives will also guide clients through investments in mutual funds, variable annuities, municipal bonds, and unit investment trusts offered through the affiliated broker/dealer of New England Securities Corp., member FINRA/SIPC, Boston, MA. The company also caters to the needs of small business owners, offering business succession and continuation strategies, life insurance for key personnel, group insurance plans, and tax efficient savings plans. Affluent clients benefit from New England’s estate conservation and preservation services and charitable giving strategies. Individual clients can receive assistance with investment strategies, brokerage accounts, college funding options, IRA rollover options, pension investment services, and asset allocation strategies. In the hour I spent with Carol at New England Financial, I gained some valuable insights into my own financial future. She clarified my misunderstanding of whole life insurance, explained more efficient tax withholding strategies, and gave me alternatives to relying solely on my 401(k) for retirement. She didn’t guarantee I’d be able to buy that private jet, but I’m still holding on to the dream. New England Financial agents are available at two locations in Southern Colorado. The Colorado Springs office is located at 7350 Campus Drive on the third floor. For more information or to schedule a no-obligation consultation, please call (719) 632-8864. The Pueblo office is located at 201 W. 8th Street, Suite 530. The phone number is (719) 545-5777. To learn more about New England Financial, visit their Web site at www.csnef.com. Try out their interactive calculators and see how well your current financial strategy is working for your future. L04086560[exp0409][CO] |
Smart Finances for Smart Women |
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