Financial Security After 50 with Sherry Finkel Murphy
Are you concerned that you may outlive your money? Worrying about your financial future can be overwhelming, but you don’t have to face it alone.
Sherry Finkel Murphy is the founder and CEO of Madrina Mali, a community and platform for financial planning and education for women through powerful storytelling. She’s a certified financial planner, a professional charted financial consultant, retirement income certified professional, and she’s a trusted voice for women, helping them to live boldly and plan with purpose.
Sherry’s insights offer women the tools and mindset they need to take control of their financial future with confidence and purpose. By overcoming financial shame, understanding your financial needs, and embracing financial planning for longevity, women can build a secure and fulfilling future. The time to start is now—take charge of your financial future and live boldly.
Key Takeaways from Financial Security After 50
1:47 | The Backstory: Learning from Childhood Influences |
4:25 | Taking Risks and Shifting Careers |
11:32 | Financial Planning for Women: What’s Missing in the Industry |
| 14:08 | Overcoming Financial Shame and Building Confidence |
| 20:25 | Financial Planning for Longevity and Health |
| 24:50 | The Simple Truth: Know Your Number |
The Backstory: Learning from Childhood Influences:
Sherry’s journey into the world of finance was influenced early on by her upbringing. Growing up as a latchkey kid in Long Island, she learned both the value of work and money. Her mother returned to work when Sherry was a toddler and emphasized that women shouldn’t rely on a man to bring them the good things in life. Sherry’s father also worked hard in his own business, instilling in her that money should facilitate life, not be hoarded or spent unwisely. This work ethic and early understanding of money shaped Sherry’s future success in financial planning.
Taking Risks and Shifting Careers:
While Sherry originally considered law school, she ultimately took a “left turn” into technology, which led to a successful career in sales and leadership during the early 80s. Later, after a company acquisition left her in a difficult position, Sherry reinvented herself in her 50s as a certified financial planner. Her personal journey reflects the importance of resilience and adapting to unexpected life events, proving that it’s never too late to make a change.
Financial Planning for Women: What’s Missing in the Industry:
Women often find themselves underserved by traditional financial planning services. The financial industry, built around the experiences of men, doesn’t always address the unique challenges women face—such as earning less, living longer, and navigating career breaks. Madrina Mali’s membership model fills this gap by offering accessible financial education and advice tailored to women’s needs, without requiring them to switch financial advisors.
Overcoming Financial Shame and Building Confidence:
A significant barrier many women face in managing their finances is financial shame. Sherry emphasizes that women should acknowledge the financial accomplishments they’ve already made—whether it’s managing a household budget or raising children. Understanding that financial planning is about putting things in order, rather than needing to be an expert, can help women overcome the fear of doing it “wrong.”
Financial Planning for Longevity and Health:
One of Sherry’s key messages is that financial planning isn’t just about money—it’s about planning for longevity and a fulfilling life. By investing in health, skills, and hobbies, women can ensure they’re not only financially secure but also living a rich and vibrant life. Sherry encourages women to think about their future through the lens of time, rather than focusing on fears of running out of money. Start now to make the most of the time you have ahead.
The Simple Truth: Know Your Number :
Sherry’s final tip for taking control of your financial future is simple: know what it costs you to live happily. Understanding your monthly expenses is the first step in building a sustainable financial plan. By facing the music and understanding your financial needs, you can make smart decisions that align with your lifestyle and long-term goals.
Connect with Sherry Finkel Murphy
Connect with Bev:
Facebook Group https://www.facebook.com/groups/womenover50rock
https://www.linkedin.com/in/beverleyglazer/
Need advice? Schedule a time to talk: https://calendly.com/reinventimpossible/15min
