The SmallBizChat Podcast: Becoming a Menopause Millionaire with Carole Hodges

Carole Hodges is the founder and author of the Menopause Millionaire. She is a financial expert dedicated to helping women approach their relationship to money with self-confidence as they enter menopause. She is also a licensed insurance representative in California and Nevada and has worked as a financial services representative at MassMutual Greater Pacific. Carole formerly served as the CEO of WWC Insurance Solutions and as a life strategy coach with The YES Connection, among other roles.

Carole joins me today to discuss how female business owners can make better financial decisions to enter menopause and retirement more effectively. She shares how menopause can serve as a wake-up call for women to assess all aspects of their lives and move forward with increased direction and clarity. Carole also highlights the importance of strategizing your retirement fund as a small business owner and where to turn for advice for better managing personal and business finances.

“This is the time to do a deep dive and say ‘What do I want to accomplish? What do I want to be in the rest of my life?” – Carole Hodges

Here’s what you’ll learn in this episode:

• The percentage of entrepreneurs that have no retirement savings plan
• Attitudes towards money that small business owners need to be successful
• Tips for approaching finances and retirement as a small business owner
• Why you shouldn’t ignore social security and what percentage you should put into it
• What the maximum for social security is right now
• What being a Menopause Millionaire means to Carole
• What business owners need to ask themselves as they approach selling their businesses and the importance of a succession plan
• How to figure out how much money you will need to retire
• Things that change for women at age 50 and aspects of life to reflect on in mid-life
• Whether women should borrow money to launch their business and the hoops women often have to go through
• Insights into finances and business structure as a female business owner and the importance of having a good CPA or attorney
• The value of reaching and connecting with people every day

Resources Mentioned:

• Social Security
• Gmail
• What’s in the Way Is the Way: A Practical Guide for Waking Up to Life by Mary O’Malley

Connect with Carole Hodges:

• Menopause Millionaire
• Menopause Millionaire on Facebook
• Carole Hodges on Twitter

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