Shweta Lawande Quoted by CNBC on COVID-19’s Impact on Women’s Retirement Planning
By: Francis Financial
January 27, 2021
Certified Financial Planner and analyst Shweta Lawande of Francis Financial was quoted in an article for CNBC.com’s Invest in You: Ready. Set. Grow series for a January 2021 article on how COVID-19 has affected women’s retirement accounts and what they can do to rebuild them.
The article summarizes the results of a newly released survey published by the Nationwide Retirement Institute on how COVID has impacted women investors. Namely, the majority of women surveyed said the pandemic has impacted their ability to retire and they are less equipped to protect their investments through a fluctuating market. Women’s top COVID-related concerns include protecting their investment portfolios from losses, health care costs, and more. When these unprecedented COVID-related factors combine with existing systemic issues like the gender wage gap, they produce an even greater impact on women’s ability to adequately save for retirement.
The article explains that one way for women to make sure they are working towards their retirement goals is by collaborating with a financial advisor like Francis Financial.
Lawande draws on her experience at Francis Financial to advise women to “focus on spending and living within their means” in order to manage the impact that COVID has on their finances, especially if their circumstances have changed. “What we’re trying to share with our clients in this time is to focus on what they can control,” she says.
In addition, to further reduce risk, Lawande recommends that women examine their asset allocation to make sure they have a diverse portfolio of “stocks, bonds, real estate cash and more,” adding that “Even in a year like 2020, we saw the benefits of our clients who have stayed invested in the market and diversified”.