Living in Los Angeles, I’ve heard the plight of female actors who claim  by the time they hit 30 – 35 years old good roles for them dry up and they have to wait until they’re more mature to once again be considered for plum parts — usually as someone’s mother.  There are certainly exceptions to that rule — Sandra Bullock and Julia Roberts the most obvious.  Susan Sarandon seemed to be working through each decade of her life, but she played some pretty edgy roles for a while there — including Thelma (or was it Louise?) and Sister Helen Prejean in Dead Man Walking.  And of course Meryl Streep seems to be perpetually in demand.  As I said, there are exceptions to the rule. 

For the rest of us, the marginalization that comes with aging gives us a little more time, but not much.  In politics, gray hair and saggy jowls often equate to maturity and wisdom for men.  Not so for women.  If you think Hilary Clinton’s hair is really blonde or Nancy Pelosi’s is brown I have a bridge I’d like to sell you.  The physical appearance of women in politics is judged far more harshly than that of men. 

On the business front (especially in for profit companies), appearance is equally if not more critical.  And I’m coming to realize how close I myself am to being “over the hill.”  Two incidents remind me of this.  One was a meeting with the CEO of one of the movie studios soon after I completed my cancer treatment.  I was so happy my hair was finally growing in I didn’t wear my uncomfortably hot blonde wig — but the alternative was my pure white hair.  It was like a little fuzzy white tennis ball.  I thought the meeting went well and expected to get the nod for my firm to do some coaching at the studio.  When I didn’t hear back I called my contact and asked what happened.  I was told that entertainment is a “youth-oriented” business and my new “do” appeared too old for the part.  Ouch.  I did ask for the feedback and appreciated the honesty, but it still stung. 

More recently, I was called by a colleague at a major manufacturing firm who was interested in bringing in coaches for some of her staff members.  She specifically asked if I would bring certain people from my website with me to the meeting.  At first I didn’t understand why she selected these particular people — then it became clear.  She was only interested in youthful coaches.  It didn’t matter that the more mature ones had far more seasoning, polish, and experience.  Had I wanted to coach any of her staff myself, I would have been deemed too old. 

To be sure, it’s discouraging.  There’s a double standard for older men vs. older women.  Just when you have the experience and confidence to know without a doubt you can make a difference, you’re marginalized.  When a woman looks too young she’s confused with being someone’s daughter or trophy wife.  A decade later she’s considered past her prime if she can’t use a Cheerio for a hula hoop (as Niecy Nash says), doesn’t dye her hair, or passes on the brow lift, chin, or face lift.  To be honest, I’ve already had my eyes done, but I’m drawing the line on other cosmetic surgery – knowing full well I will be excluded from some opportunities because I’m considered past my prime.  As for the hair, I keep threatening to let it go natural (which is all white — not gray), but my hairdresser has convinced me to wait just a little longer. 

Alas, I don’t have any coaching tips for you.  How you choose to age is a matter of personal preference.  Some women want to look in the mirror and see some semblance of the woman she was a decade or even two decades ago.  Other women go graciously and naturally into older age (think Jamie Lee Curtis).  As for me, I’m heading toward 60 kicking and screaming, refusing to be marginalized and finding those opportunities and people that value and appreciate a lifetime of hard-earned wisdom.

TAGS: Julia Roberts, Meryl Streep, Sandra Bullock, Susan Sarandon, Women and Ageism, Women and Aging

The gift of giving – is it part of your financial plan?  And if it is, do you plan to enjoy seeing what your gift can do while you’re alive and well?  If you’re committed to giving to charity why not enjoy doing it while you’re still alive and get paid for your generosity? 

Women are the nation’s primary care givers – of our children, our elders and extended family members.  And the nation’s women are generous.  Yet many are reluctant to be big money givers to a charity while they’re still alive.  The primary reason most wait and arrange for a donation to charity to be made after they’re gone?  They’re worried it could jeopardize their own retirement money needs.  A valid consideration.   

The reality is – you really can give a financial gift to your favorite charity right now – while you’re here to enjoy seeing how your money is put to use.  And, you can do it without compromising your own retirement needs.  Create what’s called a “charitable gift annuity” or CGA.

A charitable gift annuity is a financial instrument that lets you:

• generate an income stream
• get a tax deduction for yourself
•  and support the charity that’s dear to your heart

and all that happens while you’re still alive.

A charitable gift annuity is a contract between you and your chosen charity that allows the charity – in return for your donation of cash, stock or other property (usually at least $5000 to $10,000) – to pay you a fixed amount of money called an annuity for as long as you live.  The annuity comes to you in quarterly payments that are set from the outset.  The amount you receive is guaranteed.  It will never go down – even if the charity has to dip into its general fund to pay you. 

You receive quarterly checks for as long as you live.  The CGA deducts the estimated amount of each gift that goes to the charity after years of annuity payouts. 

There are standard rates for what annuities pay:

• The current rate ranges from 5.3% for life if you purchase a CGA at age 50 to 10.5% at age 90 and older. 
• The annual payout increases the older you are when you buy because annuity payments are based on actuarial tables of life expectancy. 
• If you’re a couple and decide to do a joint annuity – it pays a slightly lower rate. 
• Tax advantage?  Only a portion of a charitable gift annuity is tax deductible since your payouts are a return of principal and interest. 
• Insured?  No.  Unlike bank accounts and many other investments – CGAs are not insured, so it’s important to know the solvency and stability of the charitable organization you’re considering.

Payout rates are set by the American Council on Gift Annuities.  And because they’re fixed from the start, they won’t increase or decrease regardless what happens to interest rates.

While your payment won’t ever increase - there’s no inflation protection.  But that’s a big reason why people who choose CGAs are usually older and tend to consider fixed payments more important than having a hedge against inflation.  Women seem to like CGAs.  Typical donors are retired females in their late 70s and of moderate means.  

Charitable gift annuities are very simple for both the charity to administer and for the donor to set up and grew in popularity in recent years due to low interest rates for investments and the volatile stock market.  Even when rates creep higher, CGAs remain attractive to people who are committed to philanthropy being part of their financial lives.

One important and serious consideration to choosing a charitable gift annuity:  the donation is irreversible.  It can never be retrieved from the charity even if you have a personal emergency.  It cannot be retrieved if the charity goes bankrupt.  And if you die, your heirs have no claim to the donation. 

Despite that irreversible caveat, charitable gift annuities are the leading planned gift vehicle today because of a guaranteed payout for life that is higher than most other income generating alternatives.

Here’s to your health and wealth!

TAGS: charitable gift annuities, charitable giving, philanthropy, retirement concerns

The comment below came from Matt regarding my July 23rd post “The Dollars and Sense of Caregiving and Self-Caring” which talked about becoming a parent to your parent(s) and handling their financial needs while trying to keep your own financial goals on track: 

“Great article…very helpful…even for us guys:)  I agree that children need to know their parents’ financial resources, as you say. What’s the best way to start the conversation about it, if your parents are reluctant?” -Matt

The reality is that most everyone’s reluctant to talk about money – so why should our elders be any different? 

Adult children are reluctant to bring up the subject.   “I don’t want my parents to think we’re counting the inheritance before their gone,” 55-year old Olivia, the eldest of four adult children told me.  “We don’t want their money.  We’re all doing OK for ourselves.  We just need to know what preparations they’ve made and how to help their Golden Years be just that.”    

It’s hard to face the fact that our parents, the people who took care of us, are getting old and may now need assistance in decision making and caring for themselves.  Discussing money with aging parents can be difficult.   And when they push back (act reluctant) about the forward progress you’re trying to make on their behalf (show you the money/their financial situation) – what’s an adult kid to do? 

Delaying conversations about their estate planning and retirement isn’t the answer.   Perhaps the best way to get them to show you their money is to show your hand.

I broached the subject with my parents by telling them I was getting all of my important personal papers updated and that I might need some help from them regarding dates, childhood illnesses, family health history and so forth.  I first assured them that I was very healthy, that there were no health issues that were causing me to prepare my will but since I had moved to a new state I wanted to be sure my legal papers were all in order.  They were immediately engaged because they perceived it to be about me and for me.  That was the first of many incremental chats that ultimately became conversations about their health, money and end of life wishes.

In the years leading up to their deaths six years ago at ages 78 and 84, my Mother was willing to keep me up-to-date on all their affairs.  Dad wasn’t.  He was still in charge.  The old soldier, retired Air Force Lt. Colonel that he was, told me he had all the necessary paperwork “signed, sealed and in a three-ring notebook” and that it would be given to me “when the time is right.” 

This plan didn’t give me a sense of well-being but I didn’t want to be confrontational.  I knew that Dad’s “when the time is right” could be when they found themselves in the midst of an illness and that the well-spouse would present me with the binder that would help me help the well-spouse carryout decisions they’d made.  It was Mom who, just a few days after that conversation, without ceremony or much comment – presented me with their three-ring notebook, told me to go make a copy of everything in it and return it before Dad got back from errands. 

Less than a year later, my father had a silent heart attack, was hospitalized and in grave condition.  Three days after Dad, my mother suffered an acute gall bladder attack, had emergency surgery and her previously slight confusion became full blown Alzheimer’s post surgery.  I was emotionally devastated.  Both parents down at the same time.  But at least I had a plan.  Their plan.  I had the contents of their three ring binder which my Mom had “gifted” to me months earlier with all their major decisions and documents.  (I was doubly blessed.  I found Dad’s original binder under lock and key in their small safe.)

Convincing your aging parents to show you their financial papers and documents is a conversation that needs to happen.  And according to MetLife Mature Market Institute’s ”Ten Tips for Talking to Your Aging Parents” (www.metlife.com) – the conversations should begin while your parents are still in good health. 

In addition to Tip #1 which is starting discussions early, MetLife suggests that you:

• Include other family members:  Get all the issues on the table and gather support from siblings and other relatives.
• Explain the purpose of your conversation:  That you want to be able to do the right thing for them as they age.
• Understand your parents’ need to control their own lives:  Remember they have a right to make their own decisions even if, at some point, you may need to balance their independence with their safety.
• Agree to disagree:  Don’t try to bully your way through.  Their wishes should prevail unless their health or safety is in question.
• Use good communication skills:  It’s more effective if you offer options rather than advice.  Express concerns, listen, don’t be afraid of silence, use open-ended questions that foster discussion rather than ones answered with “yes” or “no”.
• Ask about records and documentation:  Know where your parents’ insurance policies, wills, health care proxies, living wills, trust documents, tax returns, and investment and banking records are located.  Start this discussion by asking where they keep their papers and whom you should contact in case they’re incapacitated.
• Provide information:  Be a resource for information for your parents.  They may need information about legal and financial options available to them, so provide materials for them to read and look for opportunities to talk with them about the information.
• Re-evaluate if things aren’t working well:  The best approach is always to be willing to assess why things aren’t going well.  You might need to suggest that your parents talk to a third party – such as a geriatric care manager or financial planner.
• Treat your parents with respect:  While old age can be a rewarding time, it’s also often a time of loss of loved ones, of health, and of independence – so reassure your parents that you will be there for them as they age.

So Matt, I hope these thoughts and the specific information from experts at MetLife will help you figure out how to get a conversation going with your Mom and Dad.  Just know that it will take patience and repeated/ongoing conversations to get them to trust revealing their financial issues to you.  Remember many of our parents are of a generation that considers financial matters – private.  Don’t get frustrated.

 Here’s to your health and wealth.

(MetLife Mature Market Institute is MetLife’s informational and policy resource center on issues related to aging, retirement, long-term care and the mature market and is staffed by gerontologists.  “Ten Tips for Talking to Your Aging Parents” http://www.metlife.com/assets/cao/mmi/publications/consumer/.)

TAGS: aging parents, documents, Elder caregiving, elder financial needs, end of life issues, records

I believe in assets -  of the wallet and of the heart.  Let’s take a moment to count the one’s of the heart and why we should count on them.  

I was the recipient of an extremely nurturing form of perfectionism that came from the loving hands of my 20-year old mother.  Vivien (Vicki) Baxter married my Dad William (Bill) Dickerson (with her parents’ permission) three weeks before her 17^th birthday.  When I was born, I became her real life doll and she took exemplary care of me.  Everything she did for me and with me was as perfectly orchestrated as she could make it.

Perfection had been an important and early discipline for this child bride to master.  Though she was the teenage wife of a young Army/Air Force lieutenant who was just a few years her senior, she was a military wife now – in the midst of “older women” already in their 30s! 

Her perfection for being stylishly appropriate was one of my Mom’s greatest assets.  She practiced what she learned on me.  Where did she learn this grown up sense of the life and style she wanted to provide me?  From my Dad. 

 The story goes:  A few weeks after they were married, he arrived home to change into his military dress uniform and pick up Mom for a squadron party.  He found her dressed like the 17-year old that she was – in her best pleated skirt, white Angora sweater, matching socks and black Mary Jane shoes.  Dad told her she looked beautiful and that he’d like her to save the outfit to wear when just the two of them went out to dinner because in the Air Force there was a sort of uniform for wives too.  “The older women usually wear a cocktail dress,” he said.  “Let’s go get one for you!”

 And so it was that every Friday of those early months of my Mother’s married life that my Dad would take her shopping for her “uniforms”.  One Friday it was for hats.  Another it was for shoes.  The next – for suits.  Yet another for purses and so on.   And so it was with that history and evolution of my Mother’s perfectionism into which I was born and grew up. 

My parents have been gone nearly six years now – first Mom then Dad six months later.  They’d been married 61 years.  This story is always a special memory to me for how tenderly Bill brought Vicki into the world of older – women of a certain age.

 It was this environment that taught me to recognize the value of different kinds of assets in our lives.  Money is an asset and certainly matters.  We should make deposits into our savings and retirement accounts on a regular and committed basis.  

But memories matter, too.  They’re priceless assets and should be considered valuable deposits into our emotional bank accounts.

 Here’s to your health and wealth!

TAGS: Assets, emotional assets, mothers, parents

I’m going to start this column the way I always end my weekly message:  “Here’s to your health and wealth.”  I figure since April is officially National Financial Literacy Month - I wanted to  send you double good wishes for your physical and fiscal well-being.

April is when there’s an all out effort to highlight the importance of being financially well educated and teach Americans how to not only establish – but maintain healthy financial habits.  People talk about saving money but I like to up the ante and talk about the lofty goal of  “wealth building”.

The measure of wealth is definitely individual but the process by which to do it is the same.  Wealth to one person can be the ability to buy a home where the master bedroom has a bathroom.  Wealth to another is having stock in certain companies.  In our current state of economic disarray – wealth can simply be defined as having whatever amount of money is necessary to keep the lifestyle to which you’ve become accustomed or to which you’ve chosen to downsize.

Building wealth means making decisions that will position the next generation in one’s family to continue building on it.  In order for them to continue the “wealth building” – they must be taught the disciplines and habits that keep it growing.  Money skills are some of the best assets caring adults can offer growing children.  Since the dawn of civilization, the person in the tribe or community who could count or knew numbers was highly revered. 

I’m a Baby Boomer.  Are you?  If so, together we are part of the largest mass graying of America in the country’s history.  79 million of us were born between 1946 and 1964.  About 10,000 of us a day for the next 10 years or so – are turning 50.  And a lot of Boomers are playing financial catch-up as a non-affordable or dramatic lifestyle downshift to retirement looms in the midst of loosing long saved money as the recession enters its 17th month.

But in today’s difficult economic times of high unemployment – there’s another big factor that impacts stretching hard earned dollars:  longer life spans.  More than 5 million Americans are over the age of 85 and at least 26 million are age 70.  While we celebrate that elders are living longer, they worry about outliving their savings – knowing that their nest egg can be gone with just one, life threatening illness.  Meantime, Baby Boomers who have been on course, saving enough money for their own later years – find themselves strained trying to fill the money gaps for the generation above us (our elders) and the one below us (our children) – thus the term “sandwich generation”.

These circumstances coupled with the natural erosion of investments and now the recession’s impact – means everyone must commit to maximizing what you have.  That’s why making money concerns and solutions a “family affair” – is crucial. 

Make this month of April your Financial Literacy money “ah-ha” moment.  How each of us commits to handling our personal money really matters.  Wealth building gives us the ability to invest in one’s self and one’s community.  Passing along that attitude and actively teaching money management skills to the next generation are what create a healthy mindset for accumulating and sustaining wealth.

Here’s to your health and wealth.

TAGS: baby boomers, financial literacy, investments erosion, longer life spans, multiple generation households, recession, wealth building

Did you know that

• woman’s average standard of living drops 45% in the first year after divorce?
• nearly 55% of women worry about the amount of debt they have?
• 75% of all elderly Americans in poverty are women?

These facts aren’t meant to scare you. I don’t believe in scare tactics. These facts are meant to get your attention and motivate you away from fear and toward the freedom and assurance that comes with self reliance. Personal money management skills are giant steps toward self reliance. Staying informed, responsible and making good money choices are especially critical at this age – 55 and older. So when it comes to taking care of your financial house on this “other side of life” – yes, you can.

It’s absolutely never too late to get better informed and educated about your money. So instead of beating yourself up for what money decisions you could have, should have or would have done in years gone by – make today the first day of the rest of your improved, re-directed and responsible financial life.

The money mantra for older women – I will make good money choices from this point forward.

The starting point to honestly committing to that mantra is to take a look at where you are right now – at this point in life versus where you thought you’d be. Welcome to my world! Our kids are grown and our grandchildren are growing. The natural shift in generations happens now. What better time to establish new ground rules regarding us and our money?

Some of the best money moves women age 55 and older can make are to re-evaluate your personal retirement savings goal, re-calculate how you plan to reach it and re-set how long it’s going to take you to get there. Money circumstances have changed for everyone. Despite your best laid retirement plans, a recession came along and turned them upside down. Now’s the time to regroup and reassess your centsabilities.

Decide what retirement lifestyle you want and then plan accordingly. Be sure to continue setting money aside for retirement even if/when you’ve actually retired. We’re all living longer these days (women on average 5 years longer than men) and will need money for a longer period of time than previous generations. Scale back on taking risks with your money; crunch the numbers from all your income streams (social security, pension, etc) to determine how to best allocate your assets; and downsize your housing costs.

You can also adjust your money mentality to more easily cover living expenses and lifestyle when you retire by saving more than 35% of your income for retirement, maxing out all tax-deferred retirement account options and “catch up” provision options, and contributing to a traditional Individual Retirement Account or Roth IRA.

Now put it on autopilot by setting up an automatic deduction of a certain amount of money from each paycheck directly into an online account. (There are many options when it comes to online banks www.bankrate.com crunches numbers and comparison shops for you). This is your “It’s All About Me” money – money you control and commit to putting toward replenishing your personal nest egg. Consider this your new money PC mindset. A Pocket Change account mentality. Doable goals achieved lead to more of the same. Good expandable habits are asset forming!

Personal responsibility now regarding our money and other assets will make life for us and our death for our heirs – less taxing. So, get long term care insurance, revise or update your will, check beneficiary designations, resist the urge to loan money you can’t afford to lose – including loans to family and consider postponing retirement if you don’t have enough saved.

The best piece of financial advice I can offer when you’re in your 60s and beyond: find money to save. I’m not being a grinch. Enjoy the lifestyle you can afford but always actively save money whenever possible.

Here’s to your health and wealth!

n that.

TAGS: Debt, divorce, elderly Americans, Money for women 55 and older, retirement lifestyle, tax deferred savings

I had all sorts of kind words and compliments lined up to congratulate and celebrate you youngish Baby Boomers.  10,000 of you a day are turning 50 for the next ten to twelve years or so.  Then I reminded myself that I’m your financial cheerleader – and since you can’t take kind words and compliments to the bank – let me provide some loose change ideas instead because as I like to say – “Lose change adds up to folding money.”  You can bank on that.

If you’re in your 50s – when it comes to personal money matters – welcome to crunch time! 

In the fifth decade of life you need to do with your money what you’re hopefully doing with your mind and body:  firming it up in general but your retirement options specifically.  Here’s the reason why.  Although the whole idea of what retirement is is being re-thought by the 79 million of us who are known as Baby Boomers (“Encore: Work That Matters in the Second Half of Life ” by Marc Freedman), at this age, you’re actually thinking about doing it one of these days!  So now really is the time to decide what kind of retirement lifestyle you want – and plan accordingly.

Here’s how.  The closer you get to this thing called “retirement”, the more you need to scale back on doing anything too risky with your money.  Your asset allocation should be 50% stock and 50% fixed income.  This mix let’s your retirement savings grow in the market but with a safety net of sorts with fixed income.  If, however, you’re behind in your savings, you may need to be a more aggressive investor – in other words, take more risk even in your mid-50s in order to make up for lost time and the more recent losses due to the state of our economy.  Crunch the numbers – from social security, pension and all your other income streams – to determine how to best allocate your assets.  Look for online calculators to help you do this (http://www.bankrate.com/brm/news/retirement.asp).

Since women still on average live longer than men and will therefore need money for a longer period of time, it’s very important to remember to actively continue saving for retirement.  Your money mantra should be – save as much as you can and be sure to track your assets more closely the closer you get to retirement. 

Many of us age 55 and older are taking care of aging parents, dealing with their end-of-life issues and what may be required of us emotionally and financially to help them.  So it’s easy to let our own future money needs get side tracked.

Get back on track by downsizing your housing costs – possibly relocating to a smaller home.  Get back on track by buying long term care insurance if you haven’t already because if you purchase it in you 50s, it’s still affordable. 

And finally, get back on track by downsizing your generosity.  Despite what your heart might say, this is the time in life where you must stop giving money to relatives and children.  I know – that’s a tough one.  But unless you’re independently wealthy – you’ve reached a point where you can no longer afford to lend a “money helping hand” because you’ll have little time to recoup any loses for loans that become gifts.

Next Thursday:  Women over age 55 control 65% of the country’s wealth (http://www.silvervixens.com/node/92) but often don’t give themselves credit for being able to make good money choices.  I’ll have some specific money moves for women of a certain age – 55 and older. 

Here’s to your health and wealth.

February is Black History Month.  Did you know that …  In the early 1900′s a woman named Madam C.J. Walker was considered by some to be the first self-made American woman millionaire?  Madam Walker was an African-American businesswoman – the wealthiest African-American woman in America in the early 20th century.  She revolutionized the hair care and cosmetics industry for African American women.  Madam Walker fully recognized the power of her wealth and success.  She promoted her business by speaking to women’s groups which empowered other women in business.  Her story is inspiration to women entrepreneurs of all ages and backgrounds.  http://inventors.about.com/od/wstartinventors/a/MadameWalker.htm

TAGS: aging parents, bankrate, black history, downsizing, encore careers, future money needs, loaning money, longevity, madam cj walker, Money in Your 50s, retirememt, women entrepreneurs

It was two decades ago that I celebrated this milestone – which “back in the day” was referred to as “the over the hill birthday”.  But I do remember that it represented a time of financial urgency for me.  My children were 9 and 13, my parents were in their 60s and I was feeling the full responsibility of being the “it” generation – the hub of the wheel that tended to all family member matters.

Turning 40 signals a time of urgency for many people.  You’re dealing with lingering debt, caring for aging parents, putting children through school, preparing to pay for college, and yes, worrying about meeting your own financial needs and goals.  Being 40-something can be a sobering time and money is usually at the root of your concern.

Being 40-something.  The over-the-hill blues might be hitting your spirit and your pocketbook but just remember how to breathe, lower your shoulders away from your ears and inhale – exhale and get a grip.  You’re still young.    You have time on your side to recoup and recuperate from previous or existing money woes.  And you have  years of work – therefore potential income – ahead of you by which to recover.

At this age, it comes down to refocusing and re-evaluting the past money experiences have taught you about what you need to do when it comes to making, managing and investing your money.  That’s why eliminating debt is the money goal at this stage of your life – so that you can really focus on your future.  If you’ve been practicing good money habits for the last 20 years – you’re ahead of the game and have long been committed to building and maintaining an emergency fund of 3 to 6 months worth of living expenses.  If you haven’t done it yet – start building it now – especially in the midst of the current economic crisis.

In your 40s is also the time to reasses your money priorities to make room for aggressively saving for retirement. 

• Maximize contributions to your employer-sponsored pre-tax savings plans.
• Consider opening other tax sheltered investments because saving outside of your employer-sponsored plan is always smart.
• Re-evaluate your retirement plan.
• Track your investments more closely.

In your 40s?  Just breathe.  Where should you be putting your money at this time in your life?  My suggestion?  Spread it around.   Divide your assets among different  investments.   My favorite financial reference library http://lightbulbpress.com says asset allocation is a strategy for maximizing gains while minimizing risks in your investment portfolio specifically by dividing your assets among different broad categories of investments, including stocks, bonds, and cash.  

Your asset allocation at this age should be around 65% stock and 35% fixed income. 

In your 40s – it’s time to get your spending under control.  Permanently.  The last thing you want to do (or can afford to do) is over-extend yourself and have no financial breathing room.  And finally – sadly but realistically – this is the time to prepare for the possibility of divorce or widowhood.  Both can be emotionally and financially devastating.

Next Thursday:  Crunch time.  Money moves for women in their 50s.

If you want more details on how to save, invest and manage your personal money – at any age – go to http://www.napw.com/valuable_money.cfm for my daily “Valuable Money Tips with Valerie Coleman Morris”.

Here’s to your health and wealth.

TAGS: aging parents, asset allocation, children, divorce, employee sponsored pre-tax savings plans, investments, over-the-hill birthday, preparing for retirement, Widowhood, Women in their 40s

A blogger in her mid-50s wrote about the challenge she’s been having with finding a job.  “I’ve been to several interviews and was never chosen for the position,” she writes. ”I’m feeling now that, between my age and having gained a little weight, that most companies want younger, prettier girls regardless of experience.”  Many women find themselves in the same position, but I do believe that age and wisdom can triumph over youth and beauty.  Here are a few things to try:

• Go to the cosmetics department of your local department store and ask for a free make-over.  Learn how to present yourself in the best light possible.  Looking good makes us feel better about ourselves and when we feel better we perform better. 
• Spring for a good “interview” outfit.  Although you wouldn’t want something too youthful, do purchase a dress or suit that’s in style and in a color that best complements your coloring and hair. 
• Go to the interview prepared to tell the interviewer 2 – 3 specific strengths that you bring to the party.  Practice saying them with confidence. 
• Research companies before the interview.  Be prepared to talk about how you can help them achieve their goals with your specific experiences and skills.
• Be upbeat and positive.  People hire candidates they would like to be around.  Smile, have a firm handshake, show interest in the company.  Don’t just answer questions and walk out the door.
• And as I write in my book Stop Sabotaging Your Career, if something about yourself makes you so uncomfortable that it diminished your self-confidence, have it cut, colored, lifted, suctioned, or otherwise surgically altered!

TAGS: Getting a Job Over 50, Interview skills, Women and Aging

Lynne Rosenthal wrote a story for Women’s enews describing her evolution as a donor; she gave $1,000,000 to the Ms. Foundation because she was passionate not only about the causes the foundation supports but also the way it provides funding.  She wrote that it is:

“…a philanthropy that is horizontal and democratic, not vertical and hierarchical…. it is a culture that is just and right and that creates lasting social change.”

We may not have the largess that Lynn has, but we can still benefit from her story and her philosophy of giving.

• Give as much as you can as often as you can. 
  Lynn got started with a $25 donation.
• Be thoughtful – and selective – about the charities you support.
  Take a good look at how the money you give will be used; check to be sure that the charity is real and that a decent percentage of the money you give will reach the people you want to help. 
• Keep track of your donations.
  It’ll make things a lot easier when tax time rolls around if you have good records to document your donations.

You don’t have to give a million to feel like a million when you support causes close to your heart.   As Maya Angelou said, ” I have found that among its other benefits, giving liberates the soul of the giver.”

TAGS: charity. philanthropy, contributions to women, living a rich life, support, Taxes, Women and Aging