WEST Wisdom Blog

Building Financial Resiliency: Lessons from Disruption

Posted by Jennifer Assily on Jun 4, 2021 8:45:00 AM

Join WEST on June 17, 2021 to hear from Melissa Nuñez, a Certified Financial Planner TM and Accredited Investment Fiduciary®, as she shares strategies for building financial resiliency and maintaining level financial footing, especially in the face of the unexpected. Melissa will help us reflect on the challenges and changes we have faced during the COVID-19 pandemic and help us plan to meet future financial goals, from paying off debt to buying a home to saving for retirement. Tickets for this event are free thanks to our sponsor, CliftonLarsonAllen.

For anyone interested in growing their finances, Nuñez emphasizes the importance of financial self-awareness. An awareness of things like your credit score, your investment portfolio, and the amount of money you save each month. Taking time to complete a self-assessment can be the foundation of reclaiming your financial independence. Nuñez recommends sitting down for a complete financial check-in at regular intervals—twice a year is great—and treating it like you would a medical check-up. Like our awareness of physical health, our awareness of financial health may shift and change over time, and regular check-ups can help us bring our knowledge up to date and reflect on how our needs and goals have changed.

In addition to an honest inventory of the numbers and hard facts, financial check-ins should include the identification of financial strengths and weaknesses. Writing out a list of what is going well and what has felt more difficult lately will help gauge your progress towards your goals and action items to take before your next check-in. Are you finding it easier to set aside money for savings lately, but unsure if you are investing it in the right way? Do you have a strong plan for retirement, but want to work toward an additional financial goal? Which of your financial strengths can you leverage to help address any weak points in your financial planning?

While some strategies for financial resilience are more universal, your unique life experience will also inform your goals. For example, on average, women live longer than men and should plan for at least thirty years of retirement. Women also make less money than men on average across their lifetimes. Given this wage gap, the average women will likely need to save more for retirement with less income. “The earlier you get started, the more time you have to combat this wage gap,” says Nuñez. She recommends reflecting on the question, “What steps can I take today to withstand life’s challenges and thrive in the future?”

Click here to register for Building Financial Resiliency on June 17, 2021 from 6:00 - 7:00 p.m. EST. 


You can also register for our other upcoming events: In It Together - Sharing impactful stories and supporting each other on June 8, 2021 from 4:00–5:30 p.m. EST and our free virtual Spring Networking Event on June 10, 2021 from 5:30–7:30 p.m. EST. 


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