button

Spirit-Led Woman

Want to receive SpiritLed Woman by email? Sign up here
guy and girl with money
(© Artproem | Dreamstime Stock Photos & Stock Free Images (http://www.stockfreeimages.com))

The SpiritLed Woman podcast is empowering women weekly to follow their purpose in Christ and boldly walk in faith. Listen at charismapodcastnetwork.com.


Day 4: Review investment strategies for retirement planning. Consider IRA and Roth IRA contributions, 401(k) and 403(b) contributions, annuities, individually held stocks and bonds, and mutual funds.

From 2007 to 2030, more than 76 million Americans will begin to retire. With little or no savings women are working well into their 70s. As MSNBC news correspondent Janet Shamlian commented, "They simply don't have the means to retire. And because women tend to live longer and earn less, it's a critical issue."

Approximately 96 percent of Americans will be financially dependent on the government, family or charity when they retire, according to a 2003 study by creditcard.com. Women have to be prudent and avoid falling prey to circumstances that would cause them to outlive their money.

Undertake a wholesale evaluation of your investment portfolio, and if you don't have one, begin putting money aside today. Review for proper diversification and asset reallocation to achieve higher total returns. If you can, contribute the maximum in any company-matched, tax-deferred contribution plans; this is free money in your pocket.

Entrepreneurs make tax-deferred IRA contributions no later than April 15. The IRS allows for "catch up" contributions up to $1,000 above the regular contribution limit if you are 50 years and older.

Always remember to invest in appreciating, not depreciating, assets.

Day 5: Estate planning review (every three years). Determine ownership or incidence of ownership for everything in your estate. Also take the following steps:

  • Review your will
  • Review beneficiaries
  • Determine patient advocacy. This is someone who is legally responsible to expedite a patient's wishes regarding medical treatment in the event the patient cannot make his or her decisions. The patient releases access to financial assets and medical records. The legal document is called a Durable Power of Attorney.
  • Designate guardians and custodians. Guardianship involves the duty and responsibility for care. Custody deals with the right to make legal decisions for the individual. For minors children, under 18, guardianship and custody are accomplished through a legal will. Also, guardianship or limited guardianship may be obtained over an adult who is deemed incompetent.
  • Re-examine trust agreements.

    As a financial coach, I have known countless believers who thought they owned an asset but didn't—and who discovered that another person they thought might own it didn't own it either. Ownership is evidenced by titles, deeds, or other legal documents and not by word-of-mouth.

    Be sure to verify beneficiaries. I could tell you numerous horror stories of situations that occurred "after Mama went to be with Jesus."

    Also, remember to address the issue of medical care and custody of aging parents and to protect your underage children with a legal will that establishes guardianship.

    Some people think estate planning is only for the rich or that the benefits of an estate are to be realized only after death. Not so! We have an opportunity to give during our lifetimes. My husband and I have been blessed to give hundreds of thousands of dollars into the kingdom, and we are believing that God will allow us to make more and give more while we are still alive!

    Day 6: Evaluate your financial advisers. These would include personal financial planners, legal counselors, stockbrokers or money managers, loan and mortgage bankers, coaches and mentors, and insurance agents.

    The Bible tells us that "plans fail for lack of counsel, but with many advisers, they succeed" (Prov. 15:22, NIV). Who's on your team of financial advisers?

    Today you can perform extensive research on the Internet with subscriptions to financial blogs, podcasts and Web sites. Read financial newspapers, books and magazines. Take the initiative in educating yourself but get good godly counsel as well.

    Jesus once told a story about a woman who had 10 silver coins and loses one. Then He asked His listeners: "'Does she not light a lamp, sweep the house, and search carefully until she finds it? And when she finds it, she calls her friends and neighbors together and says, "Rejoice with me; I have found my lost coin"'" (Luke 15:8-9).

    Women of God, it's time for you to start searching for the "lost coins" in your budget that you can use to improve your financial situation. Happy spring-cleaning!

  • Read a companion devotional.


    Catherine B. Eagan is the founder of Catherine Eagan Enterprises and a leading Christian financial expert.

    Draw closer to God. Experience the presence of the Holy Spirit every month as you read Charisma magazine. Sign up now to get Charisma for as low as $1 per issue.

    Get to know the Holy Spirit and how to interact with Him on a daily basis. Learn to enter God's presence and hear His voice clearly for yourself! Go deeper in your faith with Life in the Spirit and change your life and destiny. Are you ready to start your journey?

    Your Turn

    Comment Guidelines
    View/Add Comments
    • Angelic harvest

      2017 Prophecy: The Lord Is Releasing the Angels of Abundant Harvest

      "Opportunities will come your way that you never dreamed, imagined or even thought to ask for. ...

    • Chuck Pierce is calling the month ahead "critical."

      Chuck Pierce Prophesies 'Short, 10-Year Window' in the Nations

      Russia is a big part of what he sees.

    • The Things That Hold Us Back

      The Things That Hold Us Back

      The rich young ruler, like many of us today, was in a “quandary.” He wanted to follow Jesus, but he loved the lifestyle his money provided for him.

    • A bit of flirting may seem innocent, but it can lead to destructive behavior.

      3 Do's and Don'ts When Communicating With Women Other Than Your Wife

      Do you and your wife have any other rules for communicating with the opposite sex?

    • This revivalist had a vision of hell.

      Revivalist: I Went to Hell in a Dream

      After God took him on a prophetic journey, John Burton left with an important message for the ...

    • Are You Wishing the Holidays Would End Sooner?

      Are You Wishing the Holidays Would End Sooner?

      Perhaps you're one of the 45 percent of adults in a recent survey who said they dread the holiday season.

    • Get the answer to your challenging circumstance in this insight from James 1:5.

      Early Warning Signs You're About to Make a Terrible Decision

      Is Holy Spirit sounding off these alarms in your life?

    • Mantling a generation

      This Deadly Sin Squashes the Next Generation of World Changers

      And it places a demonic lid on young leaders' gifts and potential.

    • Warring angels

      Prophetic Word: 'I Saw Angels at Almost the Speed of Light'

      Here is why you must pray them through for yourself and for your nation.

    • How well you transition could depend upon these six things.

      8 Critical Keys to Transitioning Into Your Next Season

      It's still the year of shifting seasons and suddenlies, but what if you haven't shifted? ...

    • Continue Your Journey with the Holy Spirit

      Continue Your Journey with the Holy Spirit

      Follow God on the most fulfilling journey of your life with Encounter the Holy Spirit! Break away from past hurts and press into the One who wants a personal encounter with you.

    • Dream the Unimaginable In His Presence

      Dream the Unimaginable In His Presence

      Reach your full potential and be led by His Spirit. In His Presence takes you to a deeper understanding of who God is and how he communicates with us.

    • Set Your Spirit on Fire

      Set Your Spirit on Fire

      Receive the power and gifts that come through the Holy Spirit Baptism. Don’t go empty-handed; accept all that He has for you! His power is available to those who ask.

    • Put on the Full Armor of God

      Put on the Full Armor of God

      Break every stronghold with the power of the Holy Spirit. Use the power of your tongue to declare and decree the Word of God. Witness heaven move on your behalf.

    Use Desktop Layout
    Charisma Magazine — Empowering believers for life in the Spirit
    button
    button