Nancy Doyle was born and raised in Winnetka and then moved back to the village approximately 20 years ago. Doyle is an independent financial consultant who has now written a book, “Manage Your Financial Life: A Thoughtful, Organized Approach for Women.”
Q: How did you get interested in the subject of wealth management?
A: As a young person, my goal was to study economics and finance in school. My parents were very proactive in educating us in financial literacy, and it has always been something I was interested in.
Q: What was the impetus to write the book?
A: I’ve been in the finance and investment world for 30 years, and from time to time, women have reached out to me about how to manage their financial affairs and how to learn more about finance and investing. I didn’t really see any resources that I could recommend to them that were comprehensive and easy to understand, but also from an objective viewpoint. So I decided to write the book.
Q: What are the differences in the challenges facing women as opposed to the challenges facing men?
A: I think many of the challenges are the same. We all have to focus on our retirement. Most of us have probably not saved what we need to, and that should be a priority. But for women, there are some key differences. First of all, more so than in the past, more women are living alone. Currently, less than 50 percent of U.S. households are married couples. It was 80 percent in the 50s.
There are also socioeconomic reasons. Many women in their lifetime go through transitions with a financial impact, whether it is buying a home, having children, starting a business, but also divorce or widowhood, and I think it is really important women have a comprehensive understanding of their financial lives, whether they are married or on their own. It will help them become more successful.
One of the goals of my book is to provide encouragement and motivation to help women become more engaged, because they can be successful.
Shout Out is a weekly feature in which we get to know and introduce our readers to their fellow community members and local visitors throughout suburban Chicago.
Daniel I. Dorfman is a freelancer for Pioneer Press.
