December 4, 2015 - By: Heidi Toth
Laura Mattia, a doctoral student in personal financial planning, found married women are more likely to lack financial knowledge.
Helping women become financially literate and confident is the hypothesis behind Laura Mattia's research.
Years ago a 70-year-old woman sat across the desk from Laura Mattia. Her husband had died, and in an attempt to get her finances in order she saw a financial adviser, who recommended she buy a specific investment product. That product failed. The widow, whose husband took care of the money while he was alive, lost half of her savings.
A woman Mattia met volunteering at a rape crisis center put up with years of domestic abuse because she had no control over her family’s finances and thus couldn’t break away. Though she brought in half of the family’s income, her husband retained control. She couldn’t get enough money to get away.
A third woman worked in finance on Wall Street but let her husband handle the money. When they divorced, money was missing from their accounts. She didn’t know when or where it had gone and had no way to get an equal share. A fourth woman was left destitute when her husband filed for divorce, leaving her with their house underwater and their savings cleaned out. She hadn’t worked in decades, since she quit her job to support his rising career.
In the 15 years since Mattia became a financial adviser, and many years before that when she worked in corporate finance, on Wall Street and answered questions about finances, she has repeatedly been struck by how women are less likely to be financially aware and the disastrous consequences this can have. Helping women become financially literate and confident became a professional goal and the hypothesis behind her research as a doctoral candidate in the Department of Personal Financial Planning at Texas Tech University.
“These are basic life skills,” she said. “Everybody needs to know how to evaluate their own personal financial situation.”
Laura Mattia was interviewed on “Your Money” by Dr. Kent Smetters, regarding women and finances, on Business Radio Powered by the Wharton School | SiriusXM Satellite Channel 111, Tuesday, January 27, 2015
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Laura Mattia has been chosen as one of Biz (941)’s Women of Influence
Laura Mattia has been chosen as one of Biz (941)’s Women of Influence. Appearing in the June/July 2015 edition: “These Sarasota-Manatee Women of Influence are professionals we admire-successful leaders who inspire others not only in their own businesses or nonprofits, but also throughout our community.”
Laura Mattia is Founder of Women’s Money Empowerment Network™, an educational and research platform designed to positively change the way women think of themselves when they engage with money and to inspire them to take control over their finances so that they can live life on their terms. She also provides wealth management services to women looking for specific guidance.
Advice about rolling over your 401(k)
Laura Mattia discusses rolling over your 401(k) in the U.S. News & World Report article “8 tips for People Who Will Retire in 2015” by Emily Brandon US News & World Report Dec. 8, 2014
401(k) beneficiaries in “The Wall Street Journal”
When Your 401(k) Has a Bad Heir Day – Laura Mattia discusses “Who’s Inheriting Your 401(k)?”, in Jason Zweig’s April 4, 2014 column, The Intelligent Investor in The Wall Street Journal. Click the link below to read the article. The Intelligent Investor April 4, 2014
Laura Mattia responds to a question from Suzanne Barlyn in The Wall Street Journal concerning selling a promissory note. June, 2011
Laura Mattia says investors should expect more uncertainty in the New Year and explains why quarterly re-balancing may not cut it anymore. http://blogs.wsj.com/wealth-manager/2010/01/06/uncertainty-is-certain/tab/print/
Laura Mattia comments on how advisers Look to Get Paid For Advice in a Dow Jones Newswires column.
Laura Mattia is featured in a Reuters’ article written by Suzanne Barlyn on May 21, 2013, discussing tips for effective client meetings. “Keeping clients on track during one-on-one strategy sessions is often a tricky balancing act. It requires planners to acknowledge the deep emotions that are usually attached to the financial lives of their clients. At the same time, advisers must keep the discussion from straying too far from the careful decision-making that goes into every financial plan.
Independent Financial Advice
Laura Mattia quoted in the article “Schwab: Clients Seek Planning and Independent Advice” in Financial Planning.com
Laura Mattia is quoted in an article by Liz Skinner of InvestmentNews on how firms who take time to answer question and educate are ideally suited to help women. She has designed her firm to helps many single women, divorcees and widows – many of whom have never handled their own finances.
Laura Mattia, a Certified Financial Planner® with the Baron Financial Group, discusses the effects of unemployment income on retirement savings in The Star Ledger, Sunday May 29, 2011 edition.
In Karin Price Mueller’s article, “Older wills can be difficult for heirs to resolve,” in The Star Ledger, May 2, 2011, Laura Mattia offers insight in to the extra cost and time of settling older wills.
Laura Mattia was asked by The Star-Ledger reporter, Karin Price Mueller to help a divorced mom prepare for retirement. Laura determined the reader needed a Long-Term Care policy among other retirement strategies.
Lessons from the financial crisis
Laura Mattia is part of a panel discussion for ignite.com, talks about new products and what she learned from the financial crisis, to an audience of more than 50,000 leaders across the world of mutual funds.