Widows, especially those who have already left the workforce (or never been in it) face especially challenging times. Here’s how to make the best of the finances.
Financial Advice for Widows
There are large numbers of widows are living on the grants granted by the government or the previous company where their husbands were working. However, that much amount is not enough to survive for life long. This is the reason that they need to get financial advice for widows through which they can get better ways to earn for their livelihood.
However, there are some tips they have to remember to get quality service with assurance through their advisors:
Transparency: To get the advice, transparency is very important. This transparency must be on the remuneration of the advisors, qualification, places where the conflict chances are at peak. For all of the widows, professional knowledge is possible easily with low fee but this philosophy on the part of financial planner looks more crucial.
Most of the personal advisors come from the fields of mutual fund or insurance field. This is the reason that their advice may contain some bias towards their own field. This must be removed while providing the financial advices through their experiences in practical life.