7 essential financial tips for women

Part of being financially savvy is planning for life’s unexpected events. Two experts offer tips for women to better control their financial futures.

WASHINGTON Part of being financially savvy is planning for life’s unexpected events, whether it’s the loss of a job, the loss of a spouse or an illness — but many women aren’t prepared.  

The tides are turning, but statistics show that more women take a back seat in the handling of household finances to their male partners. Nina Mitchell and Dawn Doebler of Bridgewater Wealth say all too often women come to them for financial advice when they’re in a crisis.

“And if you’re in crisis, you don’t have a lot of choices,” said Doebler, a senior wealth adviser and director of education at Bridgewater.

That is why the Bethesda-based investment firm launched Her Wealth, an initiative that aims to educate and empower women to take control of their wealth through articles, resources and events.

“By 2030, at least two-thirds of the nation’s wealth is actually going to be in the hands of women,” said Mitchell, a senior wealth adviser and partner at Bridgewater. “So whether we’re ready or not, women need to really have no choice but to be engaged in their own finances for themselves as well as for the next generation.”

Here are their tips on how to do just that.

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