What is Financial Planning?
Are you a financially independent woman wondering if financial planning is something you can benefit from? Financial planning, can, indeed, be an esoteric concept for some people. Technically, a Certified Financial PlannerTM professional is required, when engaged in a comprehensive financial planning relationship, to incorporate 7 steps to their financial planning process. Watch this video created by the CFP Board to learn more.
However, there is a much softer side to financial planning as well. This requires your financial planner to be adept at many soft skills, most notably, LISTENING!
We have 2 ears, and only 1 mouth.
We ask our clients probing questions and then sit back and listen. Some examples of the questions we ask are:
Who are the important relationships in your life?
What would you like to accomplish in your life time, both personally and professionally?
What excites you the most?
What worries you the most?
What are your investment values? (Ie, do you want to support diversity in leadership, women on boards, LGBTQIA+ issues, environment, etc.)
We, (the advisor, AKA ME, Catherine Valega), then use all of the qualitative answers above, in combination with our clients’ assets and earnings, and we craft a plan that helps address the answers to the above. And I do mean ‘craft’ a plan. Every plan is personalized to our clients’ individual answers to the puzzle pieces above. Financial planning, while based in numbers, is more of an art, than a science - and we help our clients understand the fluidity of planning for life and all of its surprises, challenges, and gifts.
As a woman, mother (of 4 teenage daughters!), wife, daughter, and business-owner, I argue that women advisors tend to be naturally gifted at listening. I would love to listen to you, and help you create a plan for you and your loved ones. Contact me here to schedule some time together - I can’t wait to listen to you!
🐝 FAQ: Financial Planning for High-Earning Independent Women
Why does financial planning matter if I already make a high income?
High earners often face complex tax brackets, wealth accumulation decisions, and legacy goals. Without a plan, you risk overpaying taxes, mismanaging risk, or leaving gaps in your estate. Planning optimizes growth, protects downside, and aligns money with your life goals.
How do I set goals when so many financial priorities compete?
Start with your values—what you want your life and legacy to look like. Then rank your priorities: liquidity, debt, investments, giving, estate. Use a phased approach so you’re not spread too thin, yet still progress on multiple fronts.
What’s the role of tax strategy in holistic planning?
Tax strategy is central. It’s not just minimizing current tax, but planning over your life: when to accelerate or defer income, use Roth conversions, charitable strategies, and coordinate with estate goals. High earners benefit most from proactive tax planning.
How should I manage risk and protection?
For independent women, protection means more than car/home insurance. You should have disability, life, umbrella liability, and possibly long-term care coverage. Also structural risk: diversification, liability containment, and ensuring your contracts and business ventures are protected legally.
How often should I revisit my financial plan?
At minimum annually, but also when there are life changes—career shifts, major income events, market changes, health events. For high earners, mid-year checkups can catch course corrections early.
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