Money Clinic with Claer Barrett Best of Money Clinic: The financial advice we’d give to Barbie
Aug 13, 2024
Christine Ross, a wealth manager from Handelsbanken, joins to discuss whimsical financial strategies for Barbie as she approaches retirement. They explore her varied careers and spending habits, emphasizing the crucial steps of creating a will and financial planning. The conversation highlights the impact of the gender pay gap on women's retirement savings and the importance of independent financial strategies for both Barbie and Ken. Listeners gain insights on prioritizing meaningful experiences and the significance of paying oneself first for financial independence.
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Prenups and Cohabitation Agreements
- Secure your wealth with a prenuptial agreement to protect assets in case of marital issues.
- Consider a cohabitation agreement for similar protection if living together unmarried.
Insurance and Emotional Issues
- Consider insurance, especially if you're the primary breadwinner, to replace income in case of illness.
- Address potential psychological and emotional issues in relationships where the woman earns more.
Wills and Powers of Attorney
- Create a will to ensure your assets go to your intended beneficiaries, especially if unmarried or without children.
- Set up lasting powers of attorney for financial and healthcare decisions in case of incapacitation.