Pay off the mortgage or save for retirement? Conflicting messages from the media can make it confusing when it comes to making financial decisions. You should manage your money in alignment with your top five core values. So, what do women need to know about money? How Core Values Influence Financial Goals They live longer, take more time away from work to raise their children, and in many parts of the world, they still earn less than men do for the same job done. Women’s financial needs are also different from men’s. Men tend to focus on numbers, women often approach money through the lens of their relationships. This meeting is one example of how women approach money differently from men. It’s the one time we leave all our work behind and truly connect.” She continued with, “There is no way I would ever be willing to give up our travels so that we can pay off the mortgage. Then she blurted out, “Wait a minute, you never discussed this with me.” Sarah had remained quiet till that moment.
Jack readily replied that he and Sarah would not do any traveling for the next five years. Since it would add up to a large amount, his advisor asked him what he would be willing to give up. Jack stated that he wanted the mortgage paid off in five years and asked what lump sum payments he would need to make each year to achieve that.
Jack and Sarah went in to see their banker. We all know that men think differently, and this includes all areas of life.
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