Financial Planner

Financial Needs: When Do You Need A Financial Planner?


Why do you need a financial planner?

Do you have children?

Do you or your partner own your home?

Do you need money for your emergency savings account, retirement fund, or a “rainy day fund”?

If so, what are your sources of income?

Are you a small business owner or just self-employed?

Do you have children in college?

Do you receive Social Security or Medicare benefits?

Do you have a chronic medical condition?

Can you use an IRA or a 401(k) retirement plan?

Or do you need a comprehensive financial plan?

For children, are you saving for college?

For children’s college savings?

For college savings and college debt?

For children’s college savings and college debt?

For college savings and college debt?

Please explain your situation in more detail.

Who is a financial planner?

They’re the women in your life who want to help you, not necessarily because they expect a favor in return, but because you’re the one with the dream. They’re your co-pilot, the people who will remind you to take vacations when you’re busy trying to make a living.

When do you need one?

If you’re asking, you probably have big dreams and are currently financially independent, but still, have an eye on the future. Maybe you have a long way to go, but you want to ensure you’re on your way to success. If you’re living paycheck to paycheck and have no idea how you’ll pay your rent, it’s time to come up with a plan.

Financial planning isn’t a cure-all, and if you don’t have money saved, it doesn’t matter how good your money decisions are.

What services do they offer?

Financial counseling including support

Other financial services like grants and scholarships

Residual Income Database

How does this benefit older women in the arts?

Help discover new funding sources

It Helps artists and foundations to determine what works for their interests

Also Helps artists with monetary savings

Helps artists not have to turn down work because of funding

Helps artists secure a place to live in NYC


How much does it cost to work with a financial planner?

What do you need to get started?

How much does it cost to keep a financial plan going?

Where can we find a financial planner?

The Next Step for Older Women Artists

Why did you decide to write this book and teach workshops? What has this taught you about yourself and the art community?

What is your vision for the future?

Learn about upcoming meetings with the pros in our Meet the Pros section.

When should you start planning for your future?

Family: If your elderly parents are living with you should you start planning for their future?

Access to affordable elder care or assisted living facilities

Home care, and how to pay for it

Consider a reverse mortgage

How much of a retirement nest egg should you have before retirement?

How to live on Social Security and the New York State minimum wage (2016)

AARP states that a typical 65-year-old couple needs a retirement nest egg of about 25 to 30 percent of their income, depending on their lifestyle.

Sheldon: I believe that it is very easy to save a lot of money, but it is very difficult to stick with it and invest, especially when we’re working longer. When we’re 55, we probably need about 6 to 8 percent of our income.


You may not even think that your financial needs as an older woman artist are that significant, but they are. It’s a general rule of thumb that you’ll spend $150,000 on art materials for a year, and there are many, many more expenses in the work of being an artist than there are supplies.

But these many expenses are not normal, and should not be expected to fit into a cookie-cutter template that only works for “you”. You are unique, and your needs as an artist are just as unique as you are. So start finding and exploring the places you can find assistance, and take it from there.

Once you know what resources are out there, you can start making educated decisions about your financial future. You don’t want to get these decisions alone. You don’t need to be afraid to ask.

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