If you are a working mom or you are a female entrepreneur, and particularly if you are getting closer and closer to retirement and you haven’t built the foundation or the reserves that you feel like you’re going to need to serve you through retirement,

what do you think the biggest financial challenges facing you at this time in our history, the end of 2020 as we go into 2021?

Here’s a couple of thoughts from my perspective, some of the good news we’ve got going on in the economy right now is that there’s a vaccine now that has been approved and it will start coming out. That should serve to take a lot of the uncertainty out of the economy, let people get back to work, let businesses get going again. So from a macro scale, the economy should be doing better. Now, ironically or interestingly enough, other than from January to mid-March where the market really tanked going into the COVID pandemic, the market’s had a really good year, even in a presidential election year, which is a little interesting.

So hopefully the market will continue to be strong as far as that goes. What I believe the biggest challenge facing you is letting the uncertainty or the fears that you deal with in your daily life determine how you make your decisions and take your actions. What do I mean by that? If you’re afraid, if a person is afraid, we do usually one of two things, we either do something stupid, we take rash action, or we take no action. Neither of those are the best options. I think the biggest challenge facing you and anyone is keeping our sanity around what we’re doing, but actually taking healthy action. If I’m managing my money well, keep doing it that way. Learn more, get better.

If I’m not managing it, don’t let the uncertainties of the time we live in make me less likely to go do something about it. Let’s get started. What do I need to do? How do I go about doing it? I can take control of it and I can actually take positive action so that my fears will come down, my worries will come down and I’ll actually be doing positive things to make my money last longer, go further. I believe that’s probably the biggest challenge that a female entrepreneur, that a working mom faces at this point in our history.

Hopefully, 2021 will be a little bit better emotionally and economically than we’ve just gone through in 2020.