Women, Books and Business Issue No. 12

INSPIRATION

“One of the greatest gifts you can give

to anyone is the gift of attention.”

—Jim Rohn

Women, Caregiving and Retirement

How Caregiving Affects Women’s Finances For Retirement

_{Caregiving has become an increasingly common responsibility for women, yet its financial consequences are often overlooked. In 2021, one woman decided to leave her well-paying job to care for her elderly father and support her son through a major transition. This decision, while personal, reflects a broader trend. According to the Bureau of Labor Statistics, 37 million Americans provide unpaid care to adults aged 65 or older, with women making up nearly 60% of this group..}

_{Many women begin caregiving in their early 50s, a critical time for career growth and retirement planning. Research from MIT’s AgeLab shows that women in this age group often experience wage stagnation once they take on caregiving duties. They are less likely to seek promotions or raises and may even face setbacks in their careers due to the stigma surrounding caregiving. This financial slowdown can have long-term consequences, leaving women with less money to save for retirement. or these reasons financial wellness should become a top priority for many of us.}

_{The economic challenges faced by women caregivers are compounded by the gender wage gap. On average, women earn less than men, which means they save less for retirement. Studies show that women typically have 30% less saved for retirement compared to men. This disparity is exacerbated by the fact that women tend to live longer than men, requiring additional financial resources in their later years. Additionally, caregiving can reduce future Social Security benefits, as these are based on earnings throughout one’s career.}

_{To help address these financial challenges, experts recommend that women take proactive steps to safeguard their financial futures. Here are three key actions women should take right now:}

• _{Prepare for caregiving: Understand the likelihood of becoming a caregiver and start planning ahead. By anticipating the potential financial impact, you can take steps to protect your financial future. Consider building an emergency fund and saving for retirement earlier, so you're better prepared for unexpected caregiving duties.}
  

• _{Open up about financial challenges: Talk about the financial strain of caregiving with family members, friends, and financial advisors. These conversations can help you gain access to support, resources, and professional advice. Discussing caregiving expenses openly can also reduce isolation and provide a clearer picture of how to manage financial stress.}
  

_{Ensure legal preparedness: Make sure you have all necessary legal documents, such as powers of attorney, in place. This will allow you to manage both your finances and your loved ones' financial matters effectively. It’s also important to encourage family members to have these documents in place to make caregiving responsibilities smoother and less stressful.}

_{The financial toll of caregiving on women is significant and long-lasting, but with the right planning and proactive steps, women can take control of their financial futures and mitigate the impact of caregiving on their retirement.}

_{^{Source: https://www.kiplinger.com/retirement/long-term-care/caregiving-is-a-stealth-retirement-expense-for-women-i-should-know}}

_{The Financial Rest Plan}

_{Are you a hardworking successful woman making good money but still feeling stuck financially?}

_{The Financial Reset Plan is your guide to breaking free from money stress and building the financial future you deserve. Packed with clear strategies that will empower you to stop worrying about money, prepare for retirement, and thrive—even in uncertain times. Take the first step toward financial wellness today!}

_{Click here to learn more!}

_{LEADERSHIP & BUSINESS}

_{Emotional Intelligence: Learning from Mistakes & Making Better Decisions}

_{Being a great leader isn’t just about having a clear vision or making smart choices—it also involves managing your emotions and understanding how they affect your decisions. Emotional intelligence (EI) is key to handling challenges, working well with others, and making thoughtful decisions. Even the most emotionally intelligent leaders can make mistakes, but the key is to learn from them and get better with each experience.}

_{One common mistake leaders make is getting distracted by new ideas or opportunities, also known as "shiny object syndrome." This happens when a leader becomes so excited about something new that they lose focus on what really matters. Even though emotional intelligence helps people manage emotions, it’s easy to get carried away by excitement and make decisions that don’t fit with long-term goals. The important lesson here is that mistakes can happen, but you can learn from them and make smarter decisions next time.}

_{A helpful way for leaders to learn from these mistakes is by doing an "emotional postmortem"—basically, reflecting on what went wrong and why it happened. This process helps leaders understand what triggered an emotional reaction, like impulsively chasing a new idea. An emotional postmortem involves answering four key questions:}

• _{What led to my emotional reaction? This is about figuring out what caused you to get off track, whether it was stress, excitement, or feeling overwhelmed.}
  

• _{Can I avoid this situation in the future? How? By thinking it through, you can figure out how to handle similar situations better next time, like prioritizing more important tasks first.}
  

• _{If it happens again, how can I stop it from going too far? When a new distraction starts to pop up, recognize it early and figure out how to break the cycle—maybe by stepping away for a moment or talking it through with a trusted person.}
  

_{How can I make a better decision next time? Leaders can take a break, take a walk, or even talk to someone they trust to help them clear their head and make better decisions when emotions are running high.}

_{By learning from emotional mistakes, leaders not only improve their decision-making but also set a good example for their teams. When leaders admit they’re not perfect, it encourages a culture where everyone feels safe to learn from mistakes.}

_{Mistakes are part of leadership, but how you handle them makes all the difference. By using emotional intelligence to reflect on decisions, leaders can keep improving and make better choices in the future. Instead of seeing mistakes as failures, great leaders use them as opportunities to grow and make smarter decisions that benefit both themselves and their teams.}

^{_{Source: https://www.inc.com/justin-bariso/emotionally-intelligent-people-use-4-simple-questions-to-learn-from-mistakes-and-become-better-versions-of-themselves/91163516}}

INSPIRATION

“The future will be owned and operated

by the entrepreneurially minded.”

—Mark Victor Hansen

BOOK OF THE MONTH

_{“Huge Profits with a Tiny List” by Connie Regan Green is our book of the month. This book is a practical guide that shows you how to make the most of a small email list and turn it into a profitable business. Instead of focusing on growing a large list first. Green teaches you how to connect with the people you already have and use that connection to generate income. It’s a great read for anyone who feels overwhelmed by the idea of needing thousands of subscribers to succeed. you.}

_{In Chapter 6, “What If You Use These 50 Ideas to Make Huge Money with Your Tiny List?” Connie lays out simple, easy-to-follow strategies to help you make money from your small list. Some of these ideas include sending emails twice a week, hosting webinars, creating digital products, and offering affiliate products. Each strategy is designed to be easy to implement and doesn’t require a huge budget or a massive list.} 

_{A major focus is on consistent email communication. She recommends sending out emails at least twice a week with useful content and a clear call to action (CTA) in every message. Whether you’re offering a free tip, promoting a product, or asking for feedback, making sure your emails have a clear next step for your audience is key.}

_{Another valuable tip is to create digital products, like reports, guides, or mini-courses, that you can sell or use to grow your list. This helps bring in passive income while giving your audience exactly what they need. Connie Green also highlights the power of teleseminars, which were popular when the book was written, but webinars have taken their place as a way to directly connect with your audience, provide value, and promote both free and paid resources.}

_{Connie also suggests repurposing your content to save time and reach more people. For example, turning a blog post into an email series or converting a webinar into a YouTube video. This way, you don’t have to keep creating new content from scratch.}

_{She makes a good point that collaboration and cross-promotion are also important. Green encourages readers to interview experts, guest post on other blogs, and work together with others to grow their reach and build trust with their audience.}

_{The advice in this book is all about building a strong relationship with your subscribers. By engaging with them regularly, asking for feedback, and offering free gifts or exclusive content, you can turn your small list into a loyal following that’s ready to buy what you have to offer.}

_{“Huge Profits with a Tiny List” is a great book, and should be considered a valuable resource for anyone who wants to make money from a small list without feeling like they need to grow it endlessly. Connie’s step-by-step approach helps you focus on connecting with the people you have and using that connection to generate profits. It’s an encouraging, easy-to-read book that proves you don’t need a huge list to build a successful online business, and I wish I read it sooner}

Tashaya J. Singleton is a Financial Wellness Advocate and Business Consultant at TJS Financial Solutions LLC, with over two decades of experience in the financial services industry. She specializes in working with small to medium size businesses and has trained employees of Fortune 500 companies as well as a Global 100 company.

Here are ways she can help:

1. Signup for the free 5-Day Financial Wellness Challenge

2. Buy the book The Financial Wellness Reset Plan. It’ll help your take control of your personal economy and life

3. Subscribe to the Women, Books and Business newsletter

4. Email her with the subject line “Clarity” if you’d like help moving forward in the areas finance, business or leadership