Darryl and Alicia Pryor discuss the intersection of gender and retirement planning
Listen to the interview on the Business Innovators Radio Network: Interview with Darryl and Alicia Pryor With DNA Financial Associates Discussing The Intersection of Gender and Retirement Planning – Business Innovators Radio Network
In this episode of Influential Entrepreneurs, host Mike Saunders welcomes back Darryl and Alicia Pryor from DNA Financial & Associates to delve into the important topic of gender and retirement planning. The discussion highlights the distinct behavioral patterns men and women exhibit in money management, with men typically leaning towards more aggressive investment strategies and a higher tolerance for risk. Darryl and Alicia emphasize the necessity for customized retirement plans that take these differences into account, as a one-size-fits-all approach does not effectively serve the diverse financial needs of individuals.
In the realm of retirement planning, recognizing the distinct behavioral patterns of men and women is essential for creating effective and personalized financial strategies. The podcast episode featuring Darryl and Alicia Pryor from DNA Financial & Associates highlights several key differences in how men and women typically approach investment and financial planning.
Men are generally observed to adopt a more aggressive stance when it comes to investments. This tendency can be attributed to several factors:
- Cultural Conditioning: Men are often raised with the expectation to be providers, which can lead to a greater willingness to take risks in pursuit of higher returns. This drive to secure financial stability for their families may push them toward more aggressive investment strategies, even if it involves a higher potential for loss.
- Risk Tolerance: The episode notes that men are more inclined to embrace risk, viewing it as a necessary component of achieving significant financial growth. This can be manifested in a preference for volatile investments that promise higher returns, reflecting a more optimistic outlook on market performance.
Conversely, women tend to exhibit a more cautious approach to retirement planning and investment. Several factors contribute to this behavior:
- Longer Life Expectancy: Women statistically live longer than men, necessitating a more conservative financial strategy to ensure that their resources last throughout their extended lifespans. This reality often leads women to prioritize stability and security over aggressive growth.
- Wage Gap and Financial Literacy: the ongoing wage gap between men and women, which can limit women’s financial resources. Additionally, women may have less exposure to investment education, leading to a preference for safer, more familiar financial products. This lack of confidence in navigating complex investment options can result in a more risk-averse mindset.
- Caregiving Roles: Women often take on caregiving responsibilities, which can divert their focus from personal financial planning. This role can lead to a lack of time and resources dedicated to understanding investment opportunities, further reinforcing a cautious approach.
Given these behavioral differences, it is crucial for financial advisors to facilitate open and inclusive discussions when working with couples. Darryl and Alicia emphasize the importance of ensuring that both partners feel heard during financial planning meetings. This approach helps to address the unique concerns and perspectives each partner brings to the table.
Darryl & Alicia shared: “At DNA Financial & Associates, we believe everyone deserves expert, personalized financial guidance—no matter their current income, wealth, or life stage. Unlike many firms that focus exclusively on high-net-worth individuals, we serve a diverse clientele from all professions and walks of life. As a Certified Financial Fiduciary, we are fully committed to putting your best interests first, helping you understand your unique Goals, Passions, and Struggles (GPS), and navigating every phase of your financial journey with confidence.
Whether you’re just starting your career, growing a business, planning for a child’s education, transitioning to an empty nest, or preparing for retirement, our holistic approach ensures you receive the education and coaching needed to become financially secure, responsibly insured, and tax-wise (FIT).
By tailoring our services to your evolving needs, we strive to help you meet today’s priorities while planning for a more secure tomorrow. This inclusive philosophy underscores our promise: every person deserves quality financial planning and guidance that is transparent, unbiased, and always in their best interest.”
Financial advisors should actively listen to both partners, particularly when one may be more reserved in expressing their views. By creating a space where both voices are valued, advisors can better understand the underlying motivations driving each partner’s financial decisions. They also highlight the need for tailored financial strategies that consider the unique financial DNA of each couple. This includes balancing aggressive investment options with more secure, guaranteed income sources to accommodate both partners’ risk tolerances.
About Darryl & Alicia Pryor
As a Certified Financial Fiduciary (CFF) and financial well-being strategist, Darryl’s goal is to remove the complexity of financial planning through his coaching and mentorship, accountability, and a “let’s get it done” mindset which he gained through years of self-less service as military, government civilian and private industry servant helping the “good guys” find the “bad guys”
His true passion, however, has always been in helping others pursue financial, personal, and professional success. This passion is fueled by the recognition that any success he has achieved in life has been through the support and mentorship of family, friends, and close associates. Although he considers himself “just a common, hardworking ordinary guy” who like most has experienced life’s “ups” and “downs,” He attributes the successes he has had to the advice and guidance of those who have poured into me financially, personally, and professionally. It is this level of commitment He will pour into you.
He has been in the financial services business for 15+ years, working primarily with families and business owners. He uses a unique approach that helps people find money they’re currently transferring away unknowingly and unnecessarily.
Below are a few of the areas he enjoys coaching and advising individuals and small businesses with by offering creative and customizable 360-degree solutions tailored to fit their needs:
- Retirement planning
- Wealth Management
- Federal benefits analysis and advisory
- College planning
- Tax planning and consultation
- Income tax resolution with IRS and State
- Personal/Business insurance consultation and product selection
Learn more: https://www.dnafinancialassociates.com/
Podcast Disclaimer: This podcast is for informational and educational purposes only and should not be considered financial, legal, or tax advice. The views and opinions shared by the host and any guests are theirs alone and do not necessarily reflect those of any organization. All investments carry risks, and past performance is not a guarantee of future results. Before making any financial decisions or implementing any strategy discussed, please consult a qualified professional who can address your specific situation. The content in this podcast is not a solicitation nor an offer to buy or sell any financial products or services.
Recent Interviews and News:
- Darryl and Alicia Pryor discuss How a Financial Coach Helps Transform Financial Wealth: Darryl and Alicia Pryor with DNA Financial & Associates Interviewed Podcast Discussing How a Financial Coach Helps Transform Financial Wealth
- Darryl and Alicia discuss money myths: Darryl and Alicia Pryor with DNA Financial & Associates Interviewed on Podcast Discussing Breaking the Chains -Becoming Free from Money Myths
