Carole joins me today to discuss how female business owners can make better financial decisions to enter menopause and retirement more effectively. She shares how menopause can serve as a wake-up call for women to assess all aspects of their lives and move forward with increased direction and clarity. Carole also highlights the importance of strategizing your retirement fund as a small business owner and where to turn for advice for better managing personal and business finances.
“This is the time to do a deep dive and say ‘What do I want to accomplish? What do I want to be in the rest of my life?” – Carole Hodges
Listen to the podcast below:
Here’s what you’ll learn in this episode:
- The percentage of entrepreneurs that have no retirement savings plan
- Attitudes towards money that small business owners need to be successful
- Tips for approaching finances and retirement as a small business owner
- Why you shouldn’t ignore social security and what percentage you should put into it
- What the maximum for social security is right now
- What being a Menopause Millionaire means to Carole
- What business owners need to ask themselves as they approach selling their businesses and the importance of a succession plan
- How to figure out how much money you will need to retire
- Things that change for women at age 50 and aspects of life to reflect on in mid-life
- Whether women should borrow money to launch their business and the hoops women often have to go through
- Insights into finances and business structure as a female business owner and the importance of having a good CPA or attorney
- The value of reaching and connecting with people every day
Resources Mentioned:
- Social Security
- Gmail
- What’s in the Way Is the Way: A Practical Guide for Waking Up to Life by Mary O’Malley
Connect with Carole Hodges:
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