Breadwinning Women - Balancing life as a high achiever

Transcript

Good afternoon, everybody. I'm Stephanie Garces Donat. We are covering Breadwinning Women Balancing Life as a High Achiever today. This is one that is very near and dear to my heart. I know a lot of women that are high achievers, a lot of times they end up being the breadwinner of the family. So, we're gonna talk a little bit about that today. So, one of the things that's important to know is when you think about breadwinning women, when we say breadwinning, what does that mean? Nowadays, I think you have to be politically correct in that breadwinning women is no easy feat. Anywhere from juggling work, family obligations, personal responsibilities, can be really challenging. And I think not enough women talk openly about the demands of their day-to-day and what they're supposed to do anywhere from raising the kids or getting things in order, getting everyone to school. Or in our case, like running a business, like doing things like that where I think it could really be hard. So, one of the things I'd like to talk about is just know that when we talk about Breadwinning women, it is not just those working women. It could be people at home as well. Anyone that has to basically run several things at once. And it can be done successfully with the right mindset and the right strategies. But today I just wanna make sure we're talking about sharing tips and some balancing of your life tips to see if there's anything that anyone can relate to. But just jumping into while we're covering this today, I wanted to give you more of an idea as to what are things that we could help other people do using this platform? Not just for the legal side of things, but also talking about some topics that may be of interest to people that are watching or at home. Or may know somebody that could benefit from watching this. So, a little bit about me, you guys already know. I own Garces Law Firm in Palatine. We do estate planning, real estate, probate, and we actually have built a firm based on helping individuals and couples protecting their wealth their real estate and also their estate planning strategies. Also just making sure we plan for your legacy cause that's really what it's about. As a practicing attorney myself, I have succeeded in my professional and personal career, but it always is really hard because I still have to admit that balancing the demands of running a business, but also with life, it's really hard. And I think a lot of people, especially women, can relate to having to multitask at all times. Now it's not just challenging, but it's doable. So long as we all stick together and share tips along the way. I'm gonna talk a little bit about that. What are some tips and tricks of people that are able to both have a balance between their personal life but also their professional life? Because that seems to be a topic that everybody wants to know. I know self-help books are super big. Everywhere you turn you go to Barnes and Nobles, you go online, you'll find self-help books about how you can do it. We're gonna talk about topics today about that discussion, talk about different areas. The first one that I wanna talk about is prioritizing your time and energy. And prioritizing your time and energy is super hard. It is not easy to manage your time, everyone knows there's only 24 hours in the day and people will say, there's only so much time in the day. I can't do it all. It's very difficult to balance everything, but you can do some things. focusing on what matters most is essential to having this striking of balance. It's not even a balance, really. Think people just use the word balance, but it just really means identifying your values and identifying your goals for yourself and how you align with them. The second thing I wanna talk about is delegating, outsourcing tasks that are not your priority is very important. This can be anything from hiring a housekeeper, to getting groceries online. A lot of people go do Amazon, of course, we're all guilty of that. Delegating work tasks to your team, if you have someone that can help you on your day-to-day work. Doing this can really free up your time, but also allows you to focus on the things that you think are important. these are things that I think nobody talks about because everyone wants to feel like I can do it all myself. I know a lot of high achieving women that say, no, I can do it all. I don't need assistance. I'll find a way. And, yes, people can find a way, but it's really a matter of trying to strike a balance and making sure that you're protecting your mental health and your wellness. Another thing that we're gonna discuss is how to ask for help. Asking for help, it is really extremely hard, I think for a lot of people, especially those that can do things on their own are used to not necessarily having to ask for help. So as women, I think we always feel like we have to do it all. We don't really need assistance, but this is an unrealistic goal. And in my professional opinion, I think it sets us up to fail. So don't be afraid to ask your partner, your family members, your friends, whenever you need help whether it's like childcare, running errands finding a good recommendation for someone to do something for you, whether it's to cut your hair, to have an attorney to help you with stuff. If you have a doctor that you know that someone could recommend, having someone helping you along the way makes your life easier. Another thing that's really important and is a fourth point here, is that making sure you take care of yourself. I think self-care is completely underrated. I also think it's so easy to get caught up in the day-to-day and feel like you don't have the time to do any of this. But you can't pour from an empty cup, right? So, it's important to prioritize self-care activities, whether it's meditation, reading a book, exercising, hobbies that you enjoy. Whatever it is, just make time for them. One of the things that I always think is really crucial is time blocking for yourself. So if you have a time in the day, whether it's, let's just pretend it's noon when you go get your lunch. Maybe you set a time like 30 minutes aside to decompress and have your lunch and perhaps you, I don't know, read your book at lunch. I know plenty of people that have done that. If there's hobbies that you can put into your calendar, set a hobby. If you're really into like softball leagues, I know softball leagues are really big now coming up into the summer. I used to be in a softball league, and it was like a set time, certain day after work, right? So having it set in a certain day allows you to actually be there and commit. having that on your calendar, self-care, whatever it is, would actually be a great way to achieve that. Another thing is taking care of your financial health. This is probably the most important, I think. Your financial self is so important, not only for you, but also for those around you. So did you know that as a general tip that estate planning is very crucial to your financial future because your loved ones, your legacy, they all kind of rely on what you've done or what you haven't done. So if you yet to consider that, please take action. Do not think about it any further. A lot of people have this on their to do list for years to come. I'm not entirely sure why, but I think people just get busy and it's really easy to just say, oh, I'll do it later. I'll do it later, but later never comes, which is what I always say on the show because I think that people wait till later, but we're never guaranteed later. So, as a female breadwinner. For those of you listening, you know that by working hard to provide for yourself and for your family, that is your goal. But in the long run, there has to be something in place. And so unexpected events happen, whether it's a health scare accident, illnesses. Unfortunately, sometimes even separation in a family, there's so much that can happen at any time. So, it's very crucial to have a plan in place. Or if you have something in place, it's outdated, take a look at it, update it, make sure that you have everything in order, not just for your estate plan, but also your accounts. A lot of people have retirement accounts, investment accounts, and they don't actually have the appropriate people to get those monies. In the event that something happens to you, those are all things that we evaluate, not only just the estate planning. We look at everything that you have to make sure that everything goes where it's meant to go, and there's no unintended consequences. So, if you are the primary breadwinner in your household, and you should certainly think about having an estate plan in place, even if it's something basic. Certainly, something is better than nothing. But estate planning can basically help you ensure that you're providing for yourself and for your family. Not just your immediate family, by the way. A lot of people will include their grandchildren. Perhaps you have a sibling that's been really good to you and you wanna leave them something. I've even seen individuals that leave a pet trust. Yes, your pets can have a trust where they benefit by it. It's quite amazing. But there's so much that you can do to protect your family. That includes your family and also, pets, if that's something that is on your radar. But I know a lot of times when we talk about a estate planning, this can include a number of items. It's not just a will, it's not just a power of attorney. We do set up trusts. We also help with the retirement benefits, and life insurance policies and make sure those are in order. And many times, people will have someone that can actually do it and take over the money. But other times there's people that have named someone that can't access the money. For example, sometimes people will have their minor children as beneficiaries to some of these policies, which you may think is a good idea, but sometimes there is a better way to do it so that your children don't have trouble getting this money in the event they need it as minors. So those are things that we talk about, and proper estate planning can really help minimize some of those issues. But also, estate planning as a general matter also does help minimize tax burdens, especially on your beneficiaries. Protecting your assets from creditors is another reason you can have an estate plan. And also avoiding disputes between family members for your estate. I think that's a huge thing and I unfortunately think that it actually happens more than we think. Many people that come to see me will say, no, my kids would never fight. There's no way because I know them. The reality is that you may know your children, but you may not know what happens when you're no longer here. having an estate plan actually allows you to govern from the grave, is what I always say. But it lets you govern basically allowing things to fall into place the way you would want, not someone else would want. so it's very powerful to be able to do that. Additionally, if you have minor or children, having an estate plan actually allows you to name a guardian, which is pretty powerful as well, because in the event of your untimely passing, there are individuals that you could name to basically raise your children in the event that they're minors. And this is a whole ‘nother discussion that we can have. We've actually had other topics on Pink Mic talking about that. And just know that having your estate plan is not just for you. It's not just about your money, it's also about your legacy, your children. So when you think about what would happen if you're no longer here, it makes everybody uncomfortable and people start to feel like, oh, I don't really wanna talk about that. But taking action now and actually not later, provides a space and plans to talk about what it is that you want. A lot of times when we are talking about your legacy, we really talk about everything. We talk about, what would it look like if you were to pass away at this age, what would it look like if your beneficiaries were minors, what would you do then? We do give advice and counsel through those items because there's a lot of things that you can do and you can get as creative as you want. Everything's customizable, but you wanna be smart about what you're putting in your documents. those are things that we always talk about on this show. As for, business owners as well, there is actually a lot of things that go into a business. we do also advise and make sure that you have all your ducks in a row when it comes to what would happen to your business, but also what would happen to some of your accounts. those are really tricky topics because some individuals have someone that's gonna take over their business and other people don't necessarily have any of that. it's just important for you to remember that there is a lot of options out there in case your scenario doesn't, it's not a one size fits all. And as a business owner myself, I do know how challenging it can be to balance all of this. I do know what it's like to put things off. it's possible that with the right approach, at the right mindset, you can actually accomplish what you want. And a lot of times it's just dismantling things one by one, putting together illicit things you have to do this year. I know one time there was individual that said to me, people always think about their goals in a year's time. And it's better to think about it like three months from now, 12 weeks, something like that. And that does allow people to basically come up with a plan that's more attainable and realistic. So just something to keep in mind. For those of you that are just joining us, my name's attorney Stephanie Garces Donat. I'm the owner of Garces Law Firm here in Palatine. We represent clients in real estate and estate planning, and we also are talking today about the challenges of being a breadwinner, especially as a woman. Now, breadwinning for women is just someone that basically is a primary breadwinner for their home, their juggling work, kids, family, et cetera. And it's a lot. today we are actually talking about some of the questions that we're getting about this topic, but also what are some tips and tricks that we can offer the audience members. So, one of the questions is, can you define what a breadwinner actually is? when I talk about a breadwinner, I think about someone that is, again, the primary earner in the home, in the household. They are the person that basically, by choice or by necessity, is the person that's having to work and having to be the primary income contribution, I should say, to the household. And they actually have to juggle a lot more than just work. So it's like careers, family. It's everything. It's not just one thing, but even if you're not the breadwinner in your household, the role of a parent is an unpaid job in itself. I think we can all agree that is not something that is super easy, and it's definitely a thankless, it's a thankless job. So, if you're in a situation where you're staying at home because it is cheaper than daycare, counting your contribution of time and raising your children is also as important as the breadwinner. And the reason I bring that up is because I think sometimes there's focus on money when we talk about breadwinners, but I also think in time you could be a breadwinner, you could be somebody that's actually contributing time and saving costs for the household. breadwinner can be defined in not just economic terms, but also, I think in terms of time and what you're actually contributing to the household. Another thing that we talk about is how do you manage balancing a career and your family life? Having a strong support system is extremely key to this question. I think having supportive friends, family, colleagues, individuals that understand what career you've chosen, the hours that are involved with that, whatever it is that you're doing. And sometimes people are still seeking their career. Not everyone has a career just yet, but having people that surround you and support you, is extremely important, I think, to your success because if they believe in you, they will believe in you till the end, even when you don't believe in yourself, which is really powerful. having a strong support system is extremely important. I know that typically I have a lot of support. Luckily, I have a very supportive family, supportive husband that do help us progress in our careers together. And it does take a village, I think, for anyone to succeed in whatever it is that they want. anywhere from like having a great network of friends and families are always a great way to set yourself up for success. And I also think It's not a big deal if you don't have a huge circle. I think you just need a couple, like they usually say you only need a couple friends that you can count on your fingers. Right? You don't actually need 20 friends to be your support system. I think a smaller number is totally okay. One of the biggest things too, just a takeaway, is that the breadwinner really should be the one considering what happens next when it comes to estate planning, when it comes to protecting your family, and so don't feel shy in asking questions and looking for options. We do offer virtual consultations if you are interested. We also do in person, if you wanna be in person with me, that works too. They're completely free and we actually do a lot of remote because people don't wanna leave their home. It's totally fine. You could be in your PJ's, you could be hanging out. We'll just, basically help you talk through some of those things. But you can also just make sure to text us anytime too. If you are busy like everyone else, you can always text or call us to set up an appointment and that's pretty easy way to do it. So, that's how you contact me. You can actually call, text the number below and we'll be able to help you there. And I do wanna thank you all for always watching and I hope these tips were helpful to you to discuss what are some of the big strategies and tips for becoming a stronger, more successful individual, especially as a breadwinner of your own family. So please feel free to always comment below and any questions that you have let me know. I'm always open to hearing what you want for the next session, but this is one that comes up a lot and I think it's something to be discussed. So, thank you so much for your time and we will see you next time. Thanks guys.