Want to Take Control of Your Financial Future in 2025?

Are you ready to take charge of your financial future? In this eye-opening episode of Wealth Wise Women, host Wes Cuprill breaks down the critical steps everyone needs to take before 2025.

Chapter Markers: 
[00:00] The Wake-Up Call: Retirement Savings Reality 
[03:15] Insurance 101: Protecting Your Financial Foundation 
[07:30] Compound Interest: Your Secret Wealth Weapon 
[12:45] Budgeting Hacks: Finding Money You Didn't Know You Had 
[18:20] Breaking Barriers: Women's Economic Empowerment 
[22:00] Your 2025 Financial Roadmap

Discover the shocking truth about retirement savings, learn how even $20 can transform your financial landscape, and uncover practical strategies to maximize your economic power.

Get ready to challenge the narrative that women's economic potential is underestimated. Join us as we turn financial planning from a daunting task into an exciting opportunity for growth and security. Your future self will thank you for listening!
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Transcript

>> Wes Caprill: 0:00

There was a study that I was just reading today that 26% of working women haven't contributed anything to their retirement savings in the past year. And it's likely that an even higher percentage, while they contributed to their savings, didn't contribute as much as they probably should have. Hello there, and welcome to another episode of the Wealthwise Women Podcast. My name is Wes Cuprill, and in this week's episode, I'm going to keep things relatively short and sweet. What I want to do is touch base on a few of the things that you need to think about with the end of the year quickly approaching. And the first thing is to make sure that all of your insurance elections have been reviewed for the upcoming year. You want to make sure that your coverage is adequate, review all the things that may have changed in your policy and make adjustments accordingly. You know, insurance continues to get more and more expensive and honestly, more and more complicated. So you want to make sure that you have all your ducks in a row on that front and have adequate coverage should you need it in the new year. The other thing that I want to talk to you about is setting financial goals for the upcoming year. You know, I don't think there's any better time than the present, but I know a lot of people like to use the start of the year as a time to think about their financial goals. So now is a good time to look back at the past year, think about some of the things that worked and m some of the things that you want to change, and, you know, put down in writing what some of your financial goals are for 2025. I especially want to encourage you to give extra thought to your savings, not just your emergency savings, but also your retirement savings. You know, especially I think in this inflationary period, it's important to realize that taking advantage of the market now is key for long term growth. There was a study that I was just reading today that 26% of working women haven't contributed anything to their retirement savings in the past year. And, it's likely that an even higher percentage, while they contributed to their savings, didn't contribute as much as they probably should have. You're leaving money on the table, and again, it all comes down to compound interest. That is one of the most valuable things. I mean, Warren, Buffett called compound interest the eighth wonder of the world for good reason. The m longer that you're in the market and the longer that your savings has time to grow, the more growth you will experience over time. This episode of the Wealthwise Women Podcast is brought to you by Money and Clarity. Wall street likes to make personal finance and investing complicated, but we are here to tell you that it isn't. But saving and investing for your future can bring with its stress, emotions and uncertainty, as well as many questions like how much do I need to have saved for retirement? What happens if the market declines? And probably the most important question of all, will I be okay? That's where we come in. Not only can we help simplify the financial planning process, we can also help guide you through all the emotions and uncertainty that come with planning for your future. So give us a call today at AH, 513-563-7526 or go to visitwithm.com to schedule a free no obligation consultation. We'll discuss how we might be able to help you achieve your financial goals and provide you peace of mind knowing that you will be okay. You know, one of the easiest ways to take advantage of savings is to review your company's match. Are they going to match 3%, 4%, whatever that is? You want to make sure that you contribute as much as possible to maximize that company match. I mean, ultimately it is free money. Now, I know some people might sit down and think, I don't think I can contribute anymore to my retirement savings. And I do understand now financial burdens are becoming increasingly more common and paychecks are being stretched even more. However, I think it's very important that every year you sit down and budget. I know it's not sexy, I know it's rather boring to do, but budgeting is an incredibly important way to look at your finances and free up money that might be spent on things that are, for lack of a better term, wasteful. You know, take a look at all your subscriptions. Are there any that you aren't using anymore? Are there a lot of things where you could possibly buy the generic brand or save money in other ways, whatever it might be? I mean, even just $20 more contributed to savings over time can have a very large effect in the long term. So I highly encourage you to take a look at your spending for the last year, identify where it was that you had any waste, and say, that much money I'm going to now contribute to savings. And one of the best things that you can do is when you get a paycheck, don't pay your bills first. Pay yourself first and then pay your bills afterwards. That way you're putting your savings before anything else. I think the biggest reason I bring all this up is we've talked a lot about how Money in Clarity is doing everything that we can to help women plan for retirement. And that's why I want to make 2025 a year of wealth for women. I can't change the entire world. I can't change the system. But what we can do is everything within our power here at Money and Clarity to help women plan for a successful retirement. And a lot of our goal is to help change many of the statistics. Another thing that I was reading from elavest is that 94% of women say their economic power is being underestimated. Let's boost those numbers. I think one of the conscious goals that I have for the New Year is to decrease that number. So fewer and fewer women think that their economic power is being underestimated. Let's put women in the driver's seat for financial security, wealth buying power, everything. Let's make the future of wealth women. So that being said, I hope you enjoyed a couple of things that I mentioned in this episode. Really? Again, it comes down to I encourage you to spend the next couple of weeks planning for the New Year and making sure that you have all of your financial ducks in a row. And if there's anything that you feel that we could help you with, whether it be budgeting, planning for retirement, taking a look at your investments, please do not hesitate to reach out. Simply go to visitwithmc.com and book a time on my calendar. That being said, I hope you have a wonderful holiday and I'll see you next week.