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That's how women can take charge of their money



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In order to help women successfully exercise control over their finances, it encourages investment with confidence, and not to hide money in low-yield savings account.

While monetary zero-risk investment is well suited for short-term needs, such as a reserve fund, investors will lose money in the long-term inflation tail.

"We put and keep too much cash in the bank, and we must invest in the markets," said Chatzky.

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The first step in order to save priority – aim to set aside 15 percent of what you earn, it is advised – and put those dollars to work in an index fund. You do not have to actively trade stocks, Chatzky said; just pay attention to your fund approach in the direction of the transition from stocks to bonds.

Alternatively, opt for a target date fund that gradually shifts from riskier investments to more conservative options as you near retirement.

Then do not forget to periodically revise its portfolio and rebalance as needed, to ensure that the asset allocation is still in line with your short-term and long-term goals.

If you want to help, meet with a professional. "I'm a big fan of financial advisors," said Chatzky.

Financial advisors can play an important role, as well as in dealing with any particular financial problems you may have, such as a job change, relocation, illness, change in marital status, buying or selling a home, or pay for a child's education.

"Your advisor may tell you to increase the savings rate, to restructure the way you pay down your debts, [or] will help you develop a strategy to avoid the tax, "she added." All of those provide a measurable return. "

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