The newspaper interviewed Maura about the single mothers in her practice. “For women, there is often more emotion around money. Advisers need to help their clients understand their spending habits, look at what’s driving their spending, and find ways to save more. That’s the role I try to play with my clients: helping them through emotional issues with money, helping them understand where it’s coming from and teaching them to make smart decisions about their spending and budgeting.” For single mothers, estate planning and retirement are the main areas to tackle first, with college planning and saving after that. “Women who have stepped out of the workforce to have children or adopt children on their own often face a double whammy in that they fall off the ladder in terms of their career, and they have had less income during those years to be able to put away for retirement. As women they typically live longer and have saved less, so it’s important to find ways to save where they can.”
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