Consumer Connection: Iowa Department of Insurance and Financial Services launches SmartHER Money

Sonya Sellmeyer

As your state government agency, the Insurance Division is here to help provide financial literacy to all Iowans through our Save4Later program.  It’s important for all Iowans to have the tools to learn how to save for a secure retirement.  For women though the financial journey often looks different.  To help women navigate the oftentimes confusing financial journey, the Iowa Department of Insurance and Financial Services has created a new public outreach program created specifically for women called SmartHER Money.

“SmartHER Money was developed to assist all Iowa women no matter their age or the stage along their financial journey.  More than half of Iowa women reported that they lacked confidence when making financial decisions.”

Sonya Sellemeyer, Consumer Advocacy Officer for the Iowa Department of Insurance and Financial Services

A recent survey commissioned by the Iowa Department of Insurance and Financial Services has revealed some eye-opening takeaways about how female Iowans view financial management, insurance, retirement planning and investments.  The good news is Iowa women are active in daily household financial decisions and outpace the national average in participation in employee-sponsored retirement plans, such as a 401(k) or pension. 62% of Iowa women reported an employer-sponsored plan like a 401(k) as a source for expected retirement income.  However, according to a 2017 Pew Trust study, only 48% of all Americans participate in an employer-sponsored retirement plan.

SmartHER Money was developed to assist all Iowa women no matter their age or the stage along their financial journey.  More than half of Iowa women reported that they lacked confidence when making financial decisions when planning for retirement and that their households were not financially secure.  The goal of SmartHER Money is to empower women to face their fears and anxieties about money, financial planning and investing. 

How can SmartHER Money help you?  The importance of money management for women is vital.  The SmartHER Money website will teach the basics on budgeting, retirement savings, investments, earning power, financial planning and much, much more.  The website is broken down into the SmartHER Money four cores of planning, earning, saving, and retiring.  If you need a place to start, review the planning section.  It can help you set up a budget, provide creative ways to spend less money, or deal with debt.  The retirement planning section has information we all can use for a secure financial future.  Wherever you are on your financial journey, SmartHER Money has something for you. 

SmartHER Money is holding a free event on August 19, 2021, in Cedar Falls at Bien VenU Event Center.  Registration is now available here for this limited capacity event so sign up today.  The event opens up at 8:30 a.m. with opening remarks at 9:00 a.m. from Insurance Commissioner Doug Ommen.  Our free one day event will feature two panels of local experts discussing planning, earning, saving and retirement.  The keynote speaker, Manisha Thakor, the founder of MoneyZen.com, will address how to “Own Your Finances, Own Your Life”. 

Financial wellness is important for all Iowans.  Come join the Iowa Department of Insurance and Financial Services for this empowering event.  You won’t want to miss the speakers and available resources.

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