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Single Moms & Finances

Single Moms & Finances

| August 05, 2021

You get married.

You have children.

Life is going along fine.

And then something happens.

Be it divorce or death of a spouse, you find yourself a single parent.

But we are women, we can do it all, right?

Yes of course. But…single moms have A LOT on their plate. Working or possibly going back to work, errands, laundry, breakfasts, lunches, dinners, trying to maintain some type of social life…all while trying our hardest to raise the best children we can, sometimes completely by ourselves.

And finances, don’t forget finances.

Some of us are experts in this field. Others can do a good job on their own. Then there are those (like me) who really do not have a clue.

Do we make enough money to support our families? What about paying for college? And then there is retirement. We should be saving for that, shouldn’t we? But how? And what if something happens to us? Do we need life insurance? Long Term Care? Don’t forget taxes. Why do we pay so much in taxes and can we plan so that we pay less?

We can ask advice from friends or relatives which can be very helpful. But what if we need more information than they have to give? Sometimes we need professional help.

Financial professionals are easy to find. Just google them and hundreds of names will come up in your area alone. How to choose one is the question. How can you possibly know who to trust?

My husband died suddenly 10 years ago. The pressure I was under to handle everything for myself and my young daughters was indescribable.

For me, it makes me feel confident to have a plan. To see where I am now and where I can be in five years, in tens years, and so on.

I needed a financial planner, someone who understands my situation as it is now and where I am going as the years go on.

I met and began working for Michael Rosenberg at Diversified Investment Strategies a few years ago. I have learned a lot about finances from Michael while working here, and Michael has learned what it is like to be a single mom from me.

Michael believes in trying to help those, like me, who may need information about planning for the present as well as the future. He does this with patience and understanding.

It’s not easy. Sudden life changes can be very difficult to get through.  I have written often about how I have dealt with many situations in my blog https://livingthesecondact.com/category/the-widow-wears-pink/.

I am lucky to have found myself working where I do, and always happy to help anyone who may find themselves in a situation like mine.

This blog was written by Stacy Feintuch, Director of Client Relations at Diversified Investment Strategies. She can be reached at stacy@diversifiedinv.com or 973-533-1919 anytime.