Retirement Planning for a ‘Woman’s Vocation’

by | May 20, 2024 | Financial Planning, News, Smart Finances, Women and Finance

I congratulate Harrison Butker on speaking his mind. As an American (and a Catholic), he has the right to do that at a Catholic College graduation. In case you missed it, Harrison Butker, the Kansas City Chiefs’ Super Bowl Champion kicker was the Commencement speaker at Benedictine College on May 11th. In his speech, among other very, let’s say ‘inflammatory comments’ he made, he said that the women graduates are likely “…most excited about your marriage and the children you will bring into this world. I can tell you that my beautiful wife Isabelle would be the first to say that her life truly started when she started living her vocation as a wife and as a mother…”

So, I hope you will also indulge me in speaking (typing) my mind too. I’m an American. I’m a Catholic. I’m a football fan. Here’s the KICKER (get it?). I have a very different opinion, based on facts. 

74% of women die single.

Whether it’s due to divorce, death, or never marrying, you have to be able to finance your own retirement.

The Gender Wage Gap says that women make 82-cents for every dollar a man earns.

That is if your vocation is outside the home, of course.

Women’s life expectancy is 80-years. Men’s is 74.

At a recent conference, Peter Nakada of Stone Ridge Asset Management shared that financial planning clients’ life expectancy is 90 (I guess because the work we do is so awesome)!

Let me go back and give you a little more information about me.

I am a wife. I have been married for 30-years. I am a mother to two sons, now in their 20’s. I was a military spouse. I graduated from college. I graduated from business school with an MBA. I am a CFP®! There were times when I chose to stay home to raise my children. There were times that I couldn’t work because of military moves.I loved raising our boys. I love being a wife.

But I need more. I’ve always needed more. My vocation is not just one thing, and my vocation was not and never will be told to me. Certainly not by an entitled clown. Let me be clear here that I absolutely do not begrudge anyone who chooses to be a homemaker or a stay-at-home mom. The key word is CHOOSE. Women have had choices for a long time. 

Where my concern and responsibility lies is with what happens if you live to 90 like that study suggests? How will those years be financed? It is what keeps me up at night; for myself and for you. It is why I started this firm. Women need the support and guidance of someone who understands and empathizes with that feeling of insecurity, whether it is due to a chosen path or a forced one.

My youngest son just graduated for the second time from the same college as Harrison Butker. The first graduation, in 2023, Harrison was one of four Commencement speakers. At the time, we were disappointed he spoke at a different ceremony. Instead, we got Secretary of State, Antony Blinken, who put us all to sleep. Yesterday I went and looked for last year’s speech. He actually shared a watered-down version of the same message that has the internet lighting up. The side-eye that the female professor sitting to his left gives him is priceless!

All jokes aside, it is my job to guide women to find a plan for future financial security. I welcome a conversation with you to get started doing just that. You can schedule a complimentary call with me at this link or on my website: https://bayviewfp.com/

By the way, Harrison Butker’s mom has a vocation . . . medical physicist!! I really truly hope Harrison’s wife, Isabelle, loves her vocation and his Super Bowl rings will pay for her retirement.