WASHINGTON, May 8, 2013 /PRNewswire-USNewswire/ -- Many mothers – the very ones whom we look to for comfort, advice, and support – could be facing personal financial vulnerability. To launch her new blog, Let's Talk Planning, and its monthly "Financial Planning is for Everyone" series, Certified Financial Planner Board of Standards, Inc. ("CFP Board") Consumer Advocate Eleanor Blayney, CFP® looks to moms and the need for them to manage their own financial challenges with the same commitment as they approach raising their children. This Mother's Day, rather than just giving cards and flowers, consumers should help the mothers in their lives take the necessary steps toward safeguarding their financial futures.
"Most mothers would give their lives for their children, but one thing they may be giving up is their financial security," says Blayney. "While taking care of children is important, it's time for mothers to start taking care of themselves as well. Until the unpaid duties of motherhood enjoy the same social and market protections as paid labor, women—and all who love and depend on them—need to think about their financial planning differently."
CFP Board's newly launched blog, Let's Talk Planning, and its "Financial Planning is for Everyone" series are focused on providing useful tips on various personal finance topics to help consumers of all ages and life stages – from moms to recent college graduates to children – manage their finances and successfully navigate financial challenges.
In her inaugural post, Blayney recommends that moms:
- Create a savings plan. Moms should aim to put away more money, both for retirement and for a rainy day.
- Get adequate disability and long-term care insurance. These types of insurance help mitigate risks that are more prevalent for women.
- Take more investment risk. Women have traditionally been more conservative in this area, but given their longer lives, they need to ensure their capital grows sufficiently.
- Consider taking an adult education class or training. Mothers who want to return to the workplace, or are looking to gain additional skills to advance their careers, should invest in additional education and training.
- Meet with a CFP® professional. A CFP® professional can help come up with a financial plan that takes into consideration Mom's financial goals and circumstances – both for herself and for her family.
Consulting with a CERTIFIED FINANCIAL PLANNER™ professional means getting advice from a person who will put Mom's financial interests and security first.
"A CFP® professional is uniquely qualified in helping create a financial plan, given his or her comprehensive focus on all aspects of your life such as your family circumstances, your personal goals and preferences, and your financial resources," says Blayney. "We all want the best for our moms, and working with a CFP® professional is a great place to start."
ABOUT LET'S TALK PLANNING AND FINANCIAL PLANNING IS FOR EVERYONE
Let's Talk Planning is a blog by CFP Board Consumer Advocate Eleanor Blayney, CFP®, with weekly posts with practical financial planning tips for consumers, as well as insights into the latest developments at CFP Board. In addition to offering counsel on timely and evergreen financial planning topics, once a month Blayney will remind readers that "financial planning is for everyone," with tips for consumers of all ages and life stages.
ABOUT CFP BOARD
The mission of Certified Financial Planner Board of Standards, Inc. is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for competent and ethical personal financial planning. The Board of Directors, in furthering CFP Board's mission, acts on behalf of the public, CFP® professionals and other stakeholders. CFP Board owns the certification marks CFP®, Certified Financial Planner™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 68,000 individuals to use these marks in the U.S.
SOURCE Certified Financial Planner Board of Standards, Inc.