Helping Women Deal with Money

Helping Women Deal with Money

by Sandy Plone, Ph.D.

Two important financial issues are addressed in The Los Angeles Times, Personal Finance Section (Page C 2) on April 22, 2018: “Don’t End Up Broke in Retirement”, and “Divorced Older Women Facing Financial Regrets”.

While these issues are deeply entwined, the latter, written by Suzanne Woolley, focuses on wives who have left money matters to the men, and later regretted it when they were newly single. This is the case whether their being single was due to divorce or being widowed.

The statistics are impressive: 59% of widows and divorcees regret not taking part in long-term financial planning when they were a couple. “Women who find themselves alone wish they had been more involved in finances while they were married. Nearly all of them advise other women to be more involved early on and break the cycle of financial abdication”, according to Paula Polito, chief strategy officer for UBS Global Wealth Management.
Personally, I witnessed this in my own family with older women who were either divorced or widowed. This led me to specialize in “Money Therapy”, a type of therapy to help the population of older women addressed in the article. The reader may see more about this in my profile at www.therapyinla.com

 

Dr. Sandy Plone, is a clinical psychologist and member of the Independent Psychotherapy Network. Located in West L.A., she can be reached at dr.splone1@gmail.com or 310 979-7473.

Copyright 2018 by Sandy Plone, Ph.D.