MOPS

This past Monday, I had the awesome opportunity to speak at MOPS at our church. I felt completely out of place, considering I am not a mom, a wife, or specifically, the mother-of-a-preschooler. And what I was supposed to talk about was morbid. Am I prepared if something should happen to my spouse? Or is my spouse prepared should something happen to me? My job, given that I am a financial adviser, was to tell them what they, as women, should know about their financial state as a household. I was beyond nervous (even though a few of my good friends were in the crowd encouraging me). And pleasantly surprised at the outcome.  They were so warm and welcoming and asked a ton of questions. I always, as a woman who has grown up with a father in the financial industry, am astounded at how many women have zero idea what they have money wise.  It's so sad, but we get so many wives who have lost their spouse, and they had no idea what accounts they held together in joint accounts, retirement plans, life insurance, etc. Most don't even realize that they are dramatically underinsured. $300,000 seems like a lot until you realize how much you have to pay in the event of someone's death. They are so lost and most are not prepared financially for the loss of a family member because they never wanted to discuss it. No one wants to think that losing their spouse or loved one is a possibility, but it is a possible reality.   This group was ready to take the bull by the horns though and it completely warmed my heart to see them willing to address this issue head on. Kudos ladies!