This is part of a sponsored collaboration with Prudential and Dime Media. However,the opinions are that of my own.
Growing up my parents did not plan for the future. I did not want to be in the same boat. That is why I was so excited to attend Prudential’s event. When I was in grade school my father owned a restaurant. I remember going into Toy stores and getting whatever I wanted. We were not very rich but we were definitely upper middle class. My Dad at any time had a couple Cadillac cars. I do not remember them having much of a savings. When I was in 8th grade the business failed. I remember being on food stamps. I was so embarrassed when we had to go shopping. But Hey! we needed to eat. Now that I am older I realized that they were not prepared for this situation. I made it my mission to not have that happen to me.
As a single Mom I knew that I needed to save as much as I could to prevent a similar situation. When my son was two I found what I’d call a good job. I had an amazing health insurance, 401k and they matched some of my donations to the 401k. During some hard times I had to take loans against my 401K which I did not see as a problem. But then I got sick. Even though I had put extra money into disability my company would not pay the extra percentage. They only offered about $300 a week but after insurance, taxes and other charges . I was supposed to live on $140 a week. At the time I was also helping my Mother by feeding her. So groceries were about $100 a week. The savings I did have was gone in about 6 months. The worst part was I was still on leave and with my severe Fibromyalgia and would not be able to go back to my past job. I was not as prepared as I could be.
I was lucky enough to be invited by Dime Media to Prudential’s #WomenInspired event at the Gwen Hotel in Chicago. I met many small business women. Plus the special Guest Host Michelle Williams of Destiny’s Child. She has now started an amazing bedding line called Believe. So she knows what it is like for us new business women.
After attending the #WomenInspired event I learned quite a bit about having a legacy. For example if something happened to me what would happen to my blog? My business? And of course my son. I was not prepared but I will be now. I also did not realize that I needed a financial planner. I thought only “rich people” needed them, ones with hundreds of thousands in the bank. This is not true, everyone needs one. If I had gotten one years back I may have not lost my savings. The best part is Prudential does not charge you to meet with a planner and set up a plan. I feel most people my age don’t realize they need help planning for the future. My parents were not ready to retire and now both are having financial issues. That is why I am seeing a planner next month.I want to have a legacy for my son and with Prudential I will. Are you still unsure if you are ready? Watch this vide0..
Some inspiring words from Michelle Williams.