Women and Wealth

Let's face it, as a woman, you are juggling it all. As a certified Woman Owned Small Business (WOSB), we understand that. In many cases, you are juggling your job, your spouse, your children, and possibly both sets of parents. As a woman, you have financial needs that are unique to your situation in life. At Higgins Capital, you are going to be met with understanding, and insight. Debbie Higgins has lived your experience with juggling career and family. She gets it. Whatever your circumstances may be, it's important to have someone that you can relate to. It makes planning an easier, more comfortable process. It's important to have a clear understanding of your overall financial position.

This means creating and implementing a plan. You need to feel comfortable asking questions. An environment where you know you are being heard will allow you to put a financial plan in place. You'll be better able to focus on your financial goals and understand what it will take to reach them. There are five main steps in creating and implementing an effective financial plan:

  • Working with a financial professional 
  • Developing asset protection beyond insurance
  • Developing a clear picture of your current financial situation
  • Setting and prioritizing financial goals and time frames
  • Implementing appropriate saving and investment strategies

Working with a financial professional

A financial professional can help you accomplish the following:

  • Determine the state of your current affairs by reviewing income, assets, and liabilities
  • Develop a plan and help you identify your financial goals
  • Make recommendations about specific products/services
  • Monitor your plan
  • Adjust your plan as needed

Developing Asset protection beyond insurance

It's important to take measures to protect your life, business and the things you own. That's why asset protection planning has become so vital for women. Asset protection planning is the process of arranging your financial affairs to prevent, or at least minimize, the risk of your assets being used to satisfy claims of future creditors or claimants. Asset protection is the process of creating the legal structure to protect yourself.

  • C corporations 
  • Limited Liability Companies (LLC)
  • Professional Corporation (PC)
  • Limited Liability Partnership (LLP)
  • Family Limited Partnership (FLP)
  • Trusts

Developing a clear picture of your current financial situation

  • Identify your current monthly income and expenses 
  • Evaluate your spending habits
  • Monitor your overall spending

Setting and prioritizing financial goals and time frames

  • What is my time horizon? 
  • What is my emotional and financial tolerance for investment risk?
  • What are my liquidity needs?

Implementing appropriate saving and investment strategies

  • Make sure that you know exactly how much you owe by keeping track of balances and interest rates 
  • Develop a short-term plan to manage your payments and avoid late fees
  • Optimize your repayments by paying off high-interest debt first or take advantage of debt consolidation/financing