Cincinnati, Ohio - May 12, 2016 – Saint Ursula Academy is on a mission to prepare its students for financial independence. Leaving the Nest: Financial Empowerment for your College-Bound Daughter hosted SUA juniors, seniors and their families at the Keller Student Center on Thursday, April 14 for an informational session with the Truepoint Women’s Wealth Counsel.
Truepoint advisors shared two presentations: one geared toward helping parents educate and empower their teenage daughters, and another designed to give students the basics they need to know as well as reinforce why taking responsibility now is so important.
“By attending Truepoint's financial empowerment event, I was able to learn that besides tuition, room, and board there are many additional expenses in college,” said Saint Ursula junior Allison Fallon of Hyde Park. “I also learned that there are many ways to save and spend money, such as different types of bank accounts and cards. Most importantly, I learned how to avoid common, costly mistakes.”
Many parents and students work for years to prepare for college, yet fail to discuss the financial responsibilities that come with their new independence, said Principal Craig Maliborski. “Being prepared with the right information gives young women confidence and helps them prevent common mistake that can lead to long-term consequences.”
“The event taught me it is very important to have honest conversations with my parents about money and their expectations for college,” said Meredith Haught of Hyde Park, a junior at Saint Ursula Academy. “It is a conversation that should not be put off because it is important to start saving for college as soon as possible. I learned that it is important to plan for not only savings and checking accounts after college, but also have funds set aside for emergencies and retirement.”
Chaired by Liz Niehaus, CFP®, The Women’s Wealth Counsel exists specifically to address the unique aspects of managing wealth for women. Made up of Truepoint’s female shareholders and employees, the group hosts special events and forums for their female clients, and is committed to promoting Financial Literacy among women and girls in the Greater Cincinnati community.
“As a female, understanding your finances is important for so many reasons. Whether you are just starting out in your career, or educating your own children about money, having confidence and control over financial concepts empowers you to make better decisions for yourself and your family,” says Niehaus.
Facts about women and wealth in the U.S*:
• Women control 51% of the personal wealth in the U.S., with approximately $14 trillion in assets. (1)
• Women make 80% of household buying decisions. (2)
• 4 out of 10 women earn more than men. (3)
• Women outlive men by 5 – 6 years, 80% dying after their spouse. (4)
1Bank of Montreal, 2Forbes, 3Bureau of Labor Statistics, 4Investopedia
About Saint Ursula Academy:
Saint Ursula Academy is a Catholic, college-preparatory, secondary school for young women known for academic excellence and rich tradition. St. Ursula welcomes students from more than 70 grade schools in the Greater Cincinnati area. In 2002 the Academy was recognized by the U.S. Department of Education as a Blue Ribbon School. The campus, located at 1339 E. McMillan Street in East Walnut Hills has been the home of St. Ursula Academy and Convent since 1910. The Class of 2015 earned college scholarships totaling more than $19-million.
About Truepoint Wealth Counsel:
Truepoint Wealth Counsel offers wealth management and financial advisory services that deliver clarity and confidence to our clients' lives. As part of our fiduciary responsibility, we always place clients first in proactively delivering unbiased advice and customized service. Delivered by integrated teams of specialists, our services include financial planning, investment management, tax management, risk management and estate planning. We are proud of our legacy of independence, our investing track record and - most importantly - our exceptionally high client satisfaction ratings. Founded by Michael J. Chasnoff in 1990 as one of the first fee-only wealth management firms in the greater Cincinnati area, Truepoint is 100% employee-owned. As of December 31, 2015, the firm has $2.019 billion under management. Learn more at TruepointWealth.com.