Cortburg Speaks Retirement

Empowering High-Earning Women on the Path to Financial Success

• Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® • Season 2024 • Episode 180

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Join Miguel Gonzalez, Certified Retirement Counselor, as he shares 5 empowering strategies for high-earning women to build credit confidence. From understanding the basics to strategic credit card use, learn how to take charge of your financial journey with intention and confidence.
 
Cortburg Speaks Retirement - episode #180: Empowering High-Earning Women on the Path to Financial Success 

About Cortburg Retirement Advisors, Inc. 
Cortburg Retirement Advisors is a full-service, boutique financial planning firm - helping guide clients through turbulent and calm economies. Their goal is to help grow, protect, and preserve their assets from their first job through retirement. Cortburg’s “all in one house” capabilities mean that their experienced team can help with all financial needs - wealth management, estate and tax planning, group retirement, employee benefits, insurance, and retirement planning.    

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Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.

 HOST

Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

On this week’s audio podcast, we’ll talk about building credit confidence and empowering women to achieve financial success this Women’s History Month.

As high earners not rich yet (HENRYs), women may find themselves in a position where their earning potential is high, but they may still have uncertainties about building their credit confidence. Establishing and managing credit is a crucial aspect of financial well-being, and confidence in this realm may help you unlock a broad range of future opportunities. Here are five empowering ways to help you build credit confidence.

Understand the Basics of Credit

Familiarize yourself with concepts like credit scores and credit reports and how they impact your financial profile. Learning how your credit score is calculated can help you use credit in a way that contributes to a higher score. Knowledge is empowering, and understanding the factors influencing your credit standing allows you to make informed decisions.

Explore online resources, attend financial literacy workshops, or consult a financial professional to understand credit fundamentals.

Use Your Credit Cards Strategically

Credit cards may be powerful tools for strategically building credit. Consider obtaining a credit card and using it responsibly to demonstrate your ability to manage credit. Start with small, manageable purchases and ensure you pay the balance in full each month to avoid any interest charges.

Choose a credit card that aligns with your lifestyle and financial goals. Look for cards with favorable terms and rewards that suit your preferences, and consider those designed to support your specific financial journey. For example, if you're a travel aficionado, you may choose a card offering hotel or flight rewards; if you'd rather have cash instead, you may choose a card providing money back on every purchase.

Establish a Credit History

If you don't have a credit history, build one! High-earning women should qualify for various credit cards, and there's no need to pay interest if you're paying off the statement balance each month. Consistent, responsible credit behavior over time contributes to a positive credit history, giving you confidence in your financial capabilities.

Monitor Your Credit

Regularly check your credit reports for accuracy and promptly address any discrepancies. Many credit card companies and financial institutions offer free credit score monitoring tools, making it easier to stay informed about changes to your credit profile.

Consider implementing credit freezes or fraud alerts to save yourself from identity theft. Proactively monitoring your credit adds more confidence in your financial journey.

Diversify Your Credit Portfolio

While credit cards play a role in a well-rounded credit portfolio, you should also consider diversifying your credit mix. Installment loans, such as car loans or personal loans, contribute positively to your credit profile when managed responsibly, which includes making your payments on time. Credit diversification showcases your ability to handle different types of credit responsibly, letting creditors know you are a reliable borrower.

Building credit confidence is an empowering journey that involves knowledge, strategic decision-making, and proactive financial management. Embracing your financial power includes taking charge of your credit journey with intention and confidence.

Make sure to visit our website, www.CortburgRetirement.com. Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances.  As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.

This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

 

DISCLOSURES  

Opinions expressed are subject to change without notice and are not intended as investment advice or a solicitation for the purchase or sale of any security. Please consult your financial professional before making any investment decision. 

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

CRC conferred by The International Foundation for Retirement Education.

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Private Advisor Group, LLC, a registered investment advisor.  

Private Advisor Group, LLC and Cortburg Retirement Advisors, Inc. are separate entities from LPL Financial.

Investing involves risk including possible loss of principal.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

 

 

Contributor

Miguel Gonzalez, MBA, AIF®, CPFA®, PPC®, CRC®

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