RICHMOND, VA (WWBT) - Losing a spouse is one of the hardest obstacles one can face. Amid the pain of the loss, many decisions that were once made together now rest on the widow’s shoulders alone – and financial decisions can have many long-term implications.
According to Forbes, women are more than three times as likely as men to lose their spouse, but many wives are not keen to manage their finances if their husbands die. So, how can women ensure they’re prepared for the financial shocks of widowhood?
At NBC12′s most recent Digital Dialogue, we discussed with an expert on how widowers can prepare financially and how to adjust following an expected loss.
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Joining host Rachel DePompa was Tracy Shackelford, a financial Advisor at Northwestern Mutual Richmond. She works with women – including widows – to create financial plans that ensure they’re prepared for the possibility of losing a loved one.
Local widow Stacy Anderson also joined the panel.