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Planning for the Forty Something Woman
By Esther M. Berger, CFP

Financial Planning for the Fortysomething Woman At fortysomething reality sets in as you begin to realize you won't stay young forever. In fact, in retrospect, your youth seems to have flown by. Whereas in your twenties and thirties you felt that you made life happen, in your forties and fifties life seems to be happening to you.

Your children leave home, your marriage may be going through transition, health problems pop up, and suddenly you may find yourself responsible for your elderly parents' care and well-being.

Unless you've remained single, you have gone from being a daughter to being a wife and mother. Now you may be wondering who you are and what your role in life is. Mid-life crisis is real, and it can be frightening, because with the confusion comes the realization that only you are responsible for your life.

If divorce is a part of your fortysomething years, managing money may be a first-time experience for you. And even if you have been very hands-on with the family finances over the years, you may have to learn how to live on a lot less.