Though men and women have a lot of the same priorities, especially when it comes to investing, women must extra diligent when it comes to their financial situations as they age. This is because they outlive their male counterparts by an average of 5.2 years, the divorce rate is approaching 50 percent and approximately 10 million women are single mothers in America. It can be a scary thought to face one’s golden years alone, but what can be even scarier is not facing the fact that a majority of women will be the sole controller of the family nest egg – and the sole person responsible for bills, taxes and health insurance. This is why Edward Jones held a seminar on Feb. 26 in Hermosa Beach, CA. Titled “A Woman’s Guide to Money Matters,” financial advisor Nicholas M. Paneno outlined a few strategies women (and men) can employ to secure their financial stability, plan for retirement and even assist their grandkids with college tuition.

1. Diversify

If the current downturn has taught us anything it’s that we can’t put all our eggs in one basket. This is an especially important lesson for women whose husbands make the most, if not all, of the investment decisions. Many couples were riding high on the stock market just a little more than two years ago when the Dow Jones Industrial Average hit an all-time high of 11,960.51. Today that’s clearly a different story, and though many remain steadfast in thinking that they’ll make all their money back once the market rebounds, a woman who is facing retirement in the next 10 or 15 years should look at other investment opportunities. “Real estate, cash, stocks, bonds, commodities – yes, you need a small percentage of commodities – can broaden your investment opportunities,” Paneno said.

2. Think Long-Term

The current state of the investment landscape can make anyone want to pull all their money and cut their losses. Even in economically stable times, many women who take control of their finances for the first time can get intimidated by an investment portfolio that they previously had little to do with. They may also feel overwhelmed by the prospect of facing life – and all of its financial responsibilities – alone. This leads many to believe that they would be better off taking that money out and using it to pay current expenses. Though every family’s financial situation is different, most experts generally advise against abruptly pulling out of an investment because it has gone down in value. In fact, walking away from a current investment in a down market is essentially locking in your losses because you will have no chance to recoup that money once the market rebounds. Unless one is absolutely desperate, it’s not a good idea to end a long-term investment for the short-term gain of a little extra cash.

3. Invest Systematically

This strategy applies to a lot of things, not just literal inv...

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