Times Square Investment Journal, “For Single Moms with Jobs, Retirement Planning Doesn’t Need to Be a Luxury”
October 18, 2020 — In today’s article reporter explains: Alesia Williams was 41 when she became a single mother in 2006. Now a speech pathologist, she has come a long way since losing her job and home, raising her infant children in a shelter and relying on food stamps to remain independent. But when Covid-19 struck, the challenges resurfaced for Williams, now 55, who works for a school district in Killeen, Texas.
For guidance on how Williams can handle the situation, turned to Marguerita Cheng, a certified financial planner who heads Blue Ocean Global Wealth, a financial advising firm, and serves as an ambassador for the CFP Board which oversees standards for financial planners.
“One of the biggest challenges for working single moms with reduced or delayed income during the pandemic has been saving for retirement,” Rita said. “But when we talk about those essential expenses, there’s a lot of opportunity to free up cash flow. Maybe by having them refinance their mortgage and lower their fixed expenses so that they can save more for building emergency funds for investing for their long-term goals.”