Seven Stages of Love and Money Seminar | Sandy & Rayissa

Love and Money and Women

How do women maneuver through life, relationships, love, and money?

The Seven Stages of Love and Money at The Verity Club in Toronto

This week, I attended a fabulous event for women and their money downtown at The Verity Club called Seven Stages of Love and Money.  This event was great for all women interested in what to do with their money and how to manage it through all the various life stages. For the 20-somethings in the audience it gave them a great head start financially, as they begin their careers and new relationships and begin to wonder, what do I do with my money?  For those of us over 30, 40, or 50, there were plenty of “aha” moments as we heard great financial advice from our two experts, Dian and Eva, for women on how to maneuver through their life, relationships, and money.

Hosted by two wealth investment and financial consultant experts, with a specialty in women and money.

This great event was created and led by Dian Chaaban, Investment and Wealth Advisor with RBC Wealth Management Dominion Securities, and Eva Sachs, Divorce Financial Consultant and Financial Planner with Eva Sachs Divorce Financial Consulting. These two dynamic women hosted a stellar audience of professional women through the Seven Stages of Love and Money Seminar at The Verity Club with tips to help us manage our money financially, through all the major milestones of life, love, and relationships.

Love and Money and Women

Some of the key points I took home as a woman from Seven Stages of Love and Money.

Tip 1:  50% of women end up divorced. 

It’s just a sad fact but it happens to 1 in 2 of us.  So, how do we hope for the best and prepare for the worst?  What happens to our money or his money or is it our money? That’s what Eva and Dian covered.  The seminar wasn’t doom and gloom; it was supremely practical tips on what do you with your income, money, and investments, to protect yourself as a single, couple, a family, or in a break-up.

Tip 2: The word finance scares a lot of women. 

I know when I was 25, money scared me.  It was easier to sort of not think about money and just get paid, deposit my check, save a little, spend, maybe spend some more.  Women in attendance wanted to know, when should I be saving for a house?  Or putting money away for retirement?  Eva and Dian both spoke about starting to think about those things in your twenties.  Haven’t done it by 35 or even 45?  They both said it's never too late to start and to do it in a way that protects you and your money, no matter what your future brings. 

Tip 3:  Women are more likely to outlive their partners and parents and to inherit twice. 

Many women will inherit from their partner, who they will most likely outlive.  And if they are fortunate, a woman will also inherit from her parents as well.  You’ll have to go through the estate process twice then.  Are you ready?  And what if you’ve remarried and have yours, his, and our kids together?  What then?  Where does the money go? Do you have a will?

Tip 4:  Most importantly, build your money support team! 

There are superb resources and people out there that are women-centric, like Eva Sachs and Dian Chaaban.  Pull together experts like a financial advisor, a realtor, a mortgage broker, a lawyer, and an accountant.  This team will see you through every step of every relationship or life cycle you are going through.  Don’t have a great contact in each of these disciplines?  That’s ok;  a lot of our clients start with a realtor and ask us for trusted referrals.  We’ve got great people.  Or start with your financial advisor, as I bet they’ll have great contacts, too.

Tip 5:  Take ownership of your money.  Be engaged, ask questions. 

Know where your money is going and what you are doing with it.  So when you start a relationship or end it, you’ll be confident that you can weather it financially, as a single woman or with dependents.  And in a relationship, be a part of the money discussions and management.  Take control of your money and your investments, which means control of your future.

As women, our strength is within us and from those we surround ourselves with, especially other good women.  Take that strength and educate yourself, like this workshop Seven Stages of Love and Money.  Dian and Eva shared very specific steps as they discussed the Seven Stages that were relatable to all of us who attended, at every age.  Wish you had gone?

Want to learn more about women, love, and money?

For the real estate questions, contact Rayissa at 416-400-0805 or rayissa@homes4toronto.com.  For investment and financial planning contact Dian Chaaban at 416-842-4234 or dian.chaaban@rbc.com.  For divorce financial consulting (as well as separation questions) contact Eva Sachs at 647-349-5454 or eva@evasachs.com.

You can also read more about the Seven Stages of Love and Money as well as each of their practices on their websites at www.dianchaaban.com and www.evasachs.com