Women & Investing: Take Control of Your Wealth - Oppenheimer ...

Women & Investing: Take Control of Your WealthKathleen M. PalumboSenior Director – InvestmentsPeter C. PalumboFinancial Advisor

Women & Investing:Take Control of Your WealthFinancial understanding can help womeninvest and preserve their money wisely.Oppenheimer & Co. Inc. (“Oppenheimer”) is a leading national investment boutique with over3,000 experienced professionals in major financial centers and local communities across the UnitedStates. Over 1,300 Oppenheimer Financial Advisors, with extensive experience in the industry, helpsuccessful individuals, families, corporate executives, businesses and institutions grow, manage andpreserve their financial assets.With offices located throughout the United States and South America and investment bankingoperations in the U.K., Asia and Israel, Oppenheimer has a unique combination of local presenceand national resources that enables its Financial Advisors to provide attentive, personalized serviceand services tailored for each client.Oppenheimer professionals have earned it an excellent reputation among investors by beingresponsive to client needs, operating with the highest standards of objectivity and integrity andputting clients’ interests first.2

Women & Investing:Take Control of Your WealthAs a woman, you have probably spent a great deal of time on the job or at homemeeting other people’s needs. At Oppenheimer, your financial needs come first. Ourgoal is to help insure your financial goals are understood and, to the best of ourabilities, met by:Listening. Your Financial Advisor listens as you explain your short- and long-term goals and drawsyou out to get a full picture of your responsibilities.Responding. First, your Financial Advisor analyzes what you’ve said, then responds with aninvestment strategy designed with your objectives, your risk tolerance and your goals in mind.Implementation. Your Financial Advisor shows you a variety of investments selected from ouropen-architecture platform with your needs in mind.Offering Informed Choices. Your Financial Advisor shows you a variety of investments, productsand services selected as the likeliest to help you achieve your goals.“My mother told me to be alady. And for her, thatmeant be your own person,be independent.”Ruth Bader GinsburgFollowing Up. Your investments are monitored and, as needed, rebalanced. You receive regularreports and are encouraged to speak with your Financial Advisor whenever you have questions.Oppenheimer offers access to a full range of traditional and nontraditional products andservices. Our goal is to help you with investment strategies for your needs, both immediate andlong term.3

Putting Your SavingsWhere Your Goals AreWomen become Supreme Court Justices, ambassadors and members of Congress or the Cabinet,college presidents and CEOs. They raise their families and rebuild their community. None ofthese women achieves her goals without intense thought, planning and effort.Something curious may happen, though. Women who have already demonstrated the ability tomake good decision sometimes lack confidence that they know enough to manage their owninvestments.We at Oppenheimer are convinced that your basic sense and life experience can help you educateyourself about investments – what types you feel comfortable with; what level of risk you feelcomfortable with and how to select an experienced Financial Advisor with whom you candevelop a working relationship based on mutual respect and trust.“We ask justice, we askequality, we ask that all thecivil and political rights thatbelong to citizens of theUnited States, be guaranteedto us and our daughtersforever.”At Oppenheimer, our Financial Advisors are dedicated to working withyou over the long run to develop strategies that will help you maintainyour life – and your money – your way.Declaration for Women,July 18764

Planning ConsiderationsBecause your skillsets have alreadybrought you thisfar, you canlogically assumeyou can learn howto make prudentfinancial decisions.“When women thrive, all ofsociety benefits, andsucceeding generations aregiven a better start in life.”Kofi AnnanWomen may have a different relationship to money than most men.• You’re likely to live an average of five years longer.• When a loved one needs care, chances are that you’ll be the one to provide or arrange for it.• You’re likelier to take time off work to raise children and care for elderly parents, meaning thatyou may have less time to contribute to your retirement plans.• You may have already used your savings in a family crisis.Do any of the following statements sound familiar?• You want to learn more about how your financial and life goals mesh.• You have decided that you need a financial-planning strategy that uses long- and short-terminvestments and insurance to help you reach your financial goals.• You used to permit another family member to handle your financial concerns, but now find thisunacceptable.• You’ve put off learning about investments and fear risk as an investment tool.• You’ve let emotions, hindsight or hearsay drive previous investment decisions and are determinednot to do that again.• Your investments have been either too scattered or too concentrated.• You’re concerned about reclaiming your savings.5

From Day-to-Day Investmentsto Investment StrategyManaging your wealth is a lifelong process of educated decisionmakingthat should evolve in parallel with your life’s progress.Starting Out.Develop habitsfor good fiscalhealth.EstablishYourself.Craft strategies tocreate and managefuture wealth.BuildingWealth.Broaden yourstrategies to helpincrease andpreserve wealth.Vintage Years.Enjoy what youhave created, livecomfortably inretirement andcreate a lastingfamily, philanthropicor cultural legacy.Financial literacy is based on common sense, good fiscal habits and expandingknowledge base. Once you decide to participate in, rather than delegate investmentdecisions, consider taking the following steps outlined in the next few pages to helpwork towards building, or enhancing your financial foundation.6

Developing Your OwnFinancial InfrastructureBuild a team.If your parents encouraged you to save, theywere your first financial advisors. Now you needmore than that. For example, you may want a taxprofessional, a lawyer, an insurance agent and amortgage broker as well as a Financial Advisor.Oppenheimer has the capability to combineinvestment, insurance and other services so youcan streamline your personal financial operations.A vital tenet of our Financial Advisors is that theysit on the same side of the table as our clients.We welcome your CPA, attorney and otherfinancial professionals to become part of ourstrategy sessions.7

Developing Your OwnFinancial InfrastructureAdapt yourinvestmentstrategies toyour life.As you evolve from “just” saving to investing, yourportfolio could take many forms. Some of the mostcommon are:• 401(k) or 403(b)•IRA• Roth IRA• Trust Accounts• Professional managed accountsYou may also have other assets: a business, a home,a second home, an inheritance, perhaps collectionsof art objects or other valuables. You and yourfinancial “team” should integrate these assets intoyour overall wealth management strategy.8

Developing Your OwnFinancial InfrastructureLearn thedifferent typesof availableinvestments.The market consists of a complex array ofinvestment products and strategies, not all of whichwill be right for you. You need to understand howthey work, how they work together, and what makesthe most sense for your goals and your life.“Women’s empowermentis intertwined withrespect for humanrights.”Mahnaz Afkhami• Stocks• Bonds• Mutual funds• College funds• Professional managed accounts• Retirement accounts• And many more…9

Developing Your OwnFinancial InfrastructureA Financial Advisorcan help you chooseaccounts andproduct types thatare appropriate forthe various stages ofyour life.TaxImplication.Seek to understand the tax consequences of yourinvestments and how best to try to keep what you haveworked so hard to save.Oppenheimer & Co. Inc. does not give legal or tax advice. However, your FinancialAdvisor will work with clients, their attorneys and tax professionals to ensure all oftheir needs are met and properly executed.10

Developing Your OwnFinancial InfrastructureRetirement andPassing onYour Wealth.You have worked hard to amass your wealth, fromdefining your goals to meeting them, choosing advisors,coordinating investments and always maintaining clarityon what you want. As you look toward the future,consider the following questions:• How should I fund my retirement?• What can I expect from Social Security?• How do I factor inflation into my retirement strategies?You should maintain orupdate documents such astrusts, your will, a living will,powers of attorney andmedical powers of attorney.These documents shouldbe readily available to lovedones as well as yourprofessional team becausethey will speak for you andhow you wish to be treatedwhen or if you cannot.The retirement solutions you arrive at will help you makethe next series of decisions.• What long-term-care policy is best designed to care for me?• How can I best structure my estate to provide for loved onesand manage tax consequences wisely?• How can I continue to support my philanthropic goals?11

Financial Preparation“What other questions do I need answered?” is one of the mostvaluable questions you can ask about anything. When it comes tofinancial preparation, we suggest asking:What should be considered for beneficiaries?• If you are married or in a domestic partnership, learn what legal arrangements are in place in case you oryour partner passes on. This means making sure all beneficiary designations are correct and current. Even ifyou are single, you should update the names of beneficiaries for any major life events such as marriage,divorce, widowed or family expansions.“What exactly is success? Forme it is to be found not inapplause, but in the satisfactionof feeling that one is realizingone’s ideal.”Anna Pavlova(1881-1931)How should I allocate my assets?• Being too conservative or hoping things will all work out somehow will probably do more harm than good. Todetermine which assets will work well for you and with one another, you need the assistance of anexperienced Financial Advisor who will help you work towards your financial goals as well as how muchinvestment risk you are comfortable taking. The right Financial Advisor will help you grow your knowledge aswell as your wealth.How do I learn what can I expect from Social Security?• Benefit statements are sent out on your birthday. However, you can contact the Social Security Administrationto get an estimate or calculate them by going to http://www.ssa.gov/planners/calculators.htm.How do I factor inflation into my retirement strategies?• In 25 years, everything you buy will cost about twice as much as it does now. So, if you’ve estimated you need$75,000 to live on, 25 years from now, you may need $150,000 just to retain your current standard of living.12

Financial PreparationFinancial literacy– although it maynever be too lateto learn, the besttime to start isnow.“What other questions do I need answered?” is one of the mostvaluable questions you can ask about anything. When it comes tofinancial preparation, we suggest asking:How can I develop “tax smarts”?• Your tax professional, like your Financial Advisor, is a resource and, we hope, a trusted source of knowledge.Make certain that you learn what you need to know – at least, enough to think about the tax consequencesbefore you make a major financial decision. Your Financial Advisor will be happy to consult with your taxadvisor.How do I manage my finances in my later years?• As increasing numbers of people attain greater ages, you will need to prepare so you can live well without therisk your money will run out. Many consider a long term care policy to ensure that they will have the health carethey need in later life. Discuss with your Financial Advisor investment strategies that can help you keepgrowing your assets even after you are retired or, alternatively, to withdraw them in such a way that you do notrun through them all.How do I control how my wealth is distributed after death?• There are many ways of declaring your intentions in addition to a Will. Estate-planning solutions can helpprotect your heirs from problems such as asset transfers, intellectual property and care of minors.“If you have knowledge, letothers light their candles in it.”Margaret FullerAdding an Oppenheimer Financial Advisor to your team means a knowledgeable, experiencedprofessional will help you consolidate your retirement accounts, savings and other assets into onelong-term investment strategy designed to accommodate each phase of your life, your ability totolerate risk, your financial goals and a reality check about whether you’re making and/or savingenough to achieve them.13

Retirement: Hatching Your Nest EggMost Americans spend more time planning for vacations and holidaysthan planning for their retirement.Women &Investing• Over 75% of women are widowed at an average age of 56, 1 in 4 ofthese women are broke within two months of being widowed.*• This month we’re focused on Retirement: Hatching Your Nest Egg.• Women have truly become a force to be reckoned with – in the workplaceand society at large• 51% of management and professional jobs are held by women in 2010.**• Women have more economic clout.• As many as 9 out of 10 women will be solely responsible for their financesat some point in their lives.• The consequences of such circumstances can financially cripple manywomen.* National Center for Women and Retirement Research, August 2009** The Economist: “We Did It! What happens when women are over half of the workforce” (01/02/10)14

Kathleen M. PalumboKathleen M. PalumboSenior Director - InvestmentsPhone: (314) 854-3715kathy.palumbo@opco.comPeter Charles PalumboFinancial AdvisorPhone: (314) 854-3722peter.palumbo@opco.comBiographyKathy Palumbo joined Oppenheimer & Co. Inc. in 1995. Today, she is the thought leader of an established, wellrespectedpractice. She is not a traditional stock picker, but rather a seasoned investment advisor who seeks todifferentiate herself from other advisors by providing customized financial solutions to clients striving to optimizeprofessional money management and estate planning strategies.Before coming to Oppenheimer, Kathy spent 5 years at Stifel Nicholas. Prior to that, she made a career change thatturned the skills she had learned as a Registered Nurse from the healthcare industry into the financial services industry.A graduate of St. Louis University, Kathy holds the General Securities Representatives License (Series 7) andUniform Investment Adviser Law Examination (Series 65). She is also licensed as an agent in Insurance/Annuities ina number of states.Oppenheimer & Co. Inc.One North Brentwood Blvd., Suite 600St. Louis, MO 63105Peter Charles PalumboBiographyPeter Palumbo joined Oppenheimer & Co. Inc. after more than ten years of experience in advertising and marketing.As part of The Palumbo Group, he is dedicated to providing the group’s clients with smoothly functioning and caringservice. He provides customized financial solutions to clients and strives to optimize professional money managementand estate planning strategies for wealth transfer between generations.Peter graduated from Marquette University with a double major in marketing and organizational management. Heholds the General Securities Representatives License (Series 7) and Uniform Investment Adviser Law Examination(Series 65).Fax: (314) 863-1809Toll Free: (800) 782-6217http://fa.opco.com/thepalumbogroup 15

Important InformationThis presentation is intended for informational purposes only and is subject to change without notice.Oppenheimer Asset Management is the name under which Oppenheimer Asset Management Inc. (OAM) does business. OAM and theOppenheimer Trust Company are wholly owned subsidiaries of Oppenheimer Holdings Inc., which also wholly owns Oppenheimer & Co. Inc.(Oppenheimer), a registered broker/dealer and investment adviser. Securities are offered through Oppenheimer.For further information about the products/programs available and their suitability for your portfolio, please contact your Oppenheimer FinancialAdvisor. Any discussion of securities, including any hedge funds or other alternative investments, should not be construed as a recommendation oran offer or solicitation to buy or sell interest in any such securities. Securities products offered or sold by Oppenheimer will not be endorsed orguaranteed by Oppenheimer and will be subject to investment risks, including the possible loss of principal invested. Alternative investments aremade available only to qualified investors and involve varying degrees of risk.Neither Oppenheimer, OAM, nor the Oppenheimer Trust Company provide legal or tax advice. However, your Oppenheimer Financial Advisor willwork with clients, their attorneys and their tax professionals to help ensure all of their needs are met and properly executed.© 2009 Oppenheimer & Co. Inc. Member of All Principal Exchanges and Member SIPC. All rights reserved. No part of this presentation maybe reproduced in any manner without the written permission of Oppenheimer.G69050610RM116