Successful Business Women and Investors rely on Karen for financial advice. She gets to know you by understanding your business and personal needs while ensuring you achieve your financial goals and dreams.
Karen helps female Investors navigate the markets, develop long-term investment plans, assist their families and grow and protect their wealth. She is committed to helping you build confidence in your investing abilities and taking care of your financial well-being. Karen is there to assist you throughout all life's stages and challenges.
Save for Important Goals
One of the most important components of a financial plan is the savings strategy, which should
put women’s needs first to help them achieve their goals. Their goals could include maintaining
their standard of living for a comfortable retirement and providing the means for them to take
care of their dependents. Taking advantage of tax-beneficial savings options is a great way to
help one reach their goals faster, particularly if, like most business owners and professionals,
they do not have a pension plan.
Executives and business owners may be at an advantage when it comes to planning for
retirement if they can invest in company-sponsored defined benefit or defined contribution
pension plans. The benefit of these plans is that contributions are made directly through payroll
deductions, reducing the amount of their income that is subject to income tax. Their employer
may even provide a matching contribution based on the amount they contribute annually. If
their plan was with a former employer, these plans can also be rolled over to a locked-in RRSP
to gain more flexibility and control of their retirement savings.
Self-employed professionals can look at using Individual Pensions Plans (IPP) to save for
retirement. With an IPP, they can make relatively large contributions for retirement, often
above what is possible with RRSPs. Tax-Free Savings Plans (TFSA) are another tax-advantaged
way to save for retirement or other personal goals.
Professionals typically spend a number of years studying and earning professional accreditation
and licensing, reducing the number of years they can subsequently practice. This results in less
time for the compounding of investments and makes reaching their goals more challenging.
A similar challenge is faced by women who take time out of the workforce to have or raise
children. Women who find themselves in this scenario, should be more proactive with their
planning and savings to ensure that they can reach their financial goals.
Over the last few decades, women’s economic power has increased, and with this financial
success new challenges have emerged. Executive and professional women are poised to achieve
the equality that Marston envisioned in his character Wonder Woman. But even a superhero
needs guidance and support from time to time.
At BMO, we believe that everyone deserves to work with a trusted financial professional who
can help them plan better for whatever the future holds for them and their family. In a positive
and safe environment where they can discuss their concerns. By establishing a relationship with
a BMO professional who understands a woman’s unique financial needs and the importance of
financial planning, women can achieve the peace of mind they are looking for.