ust as we were closing this issue, we received an e-mail from a reader: “I’m going to be 56 this month,” she wrote, “and I’ve been on my own for the past 20 years. I’ve had to live on what I made and sometimes can’t make ends meet. I haven’t been able to save for retirement, and now I’m frightened. Can you please give me some hope?”

            I put out a call for help to all of our writers, asking what words of hope and advice we could give this reader, and the first to respond was our “Ask Mr. Modem” columnist, Richard Sherman. (Who said men couldn’t be sensitive?)

            “First, she’s young!” he wrote. “She's only 56, which means she really has time to get on a healthier financial path. Remember, 60 is the new 40!” In his pep talk, he went on to urge her to “seize control of her life—which only she can do—and make a life plan that will incorporate some changes in her financial situation.”

            Seize control! Those are fighting words . . . inspiring, empowering words. We should all be “controlling women,” not in the negative sense of trying to control others’ lives, but in the positive sense that we take control of our own destinies. For our reader to seize control and make a new life plan, she must first understand her options and begin to consider the consequences of every financial move she makes. Our experts will be in touch with her to offer hope—and a plan.

            In this issue, we feature several stories that demonstrate very clearly how understanding your options and the consequences of acting—or not acting—in certain situations can empower you, protect you, even change your life. Elizabeth Kaminsky tells tales of heartbreak, which could have been averted, in “Playing House,” as she offers financial advice for women who decide to live with their partners, when they don’t “have the ring.” Her suggestions are particularly timely; men and women who opt to live together, often for very practical reasons (as in the case of the older woman who risks losing a former spouse’s Social Security benefit, if she remarries), are in the same leaky boat as gay partners, when it comes to rights and protections.

            Experts suggest smart ways stepmoms can protect their rights in “Things ‘The Brady Bunch’ Never Mentioned,” an excellent piece written by award-winning writer (and stepmom) Lisa Cohn. In it, she offers an almost uncomfortably candid description of the emotional undercurrents that can founder second marriages. If you’re a stepmom, you won’t want to miss her comments about “The Ex (Wife) Factor.”

            Our “Female Finance” columnist, Elizabeth Lewin, adds up how much it costs a first-time mom to stay home with her bundle of joy. The answer: a bundle! There’s more to consider than just your lost salary, during the years you remain out of the workforce. But there are ways to compensate for those losses, if you plan ahead.

            Have you ever been approached by a dear friend, asking for a loan? Patricia Shapiro tells you why it might be better to lend an ear, instead, in “Borrowing Trouble.”

For a nontraditional career option, read our “Biz Whiz” column, “What Do You Do When You Want to Succeed in a Man’s World,” in which we profile a woman who has just started her own construction company. “Do what you love and have no fear. There’s absolutely no reason to be intimidated by a man. Ever,” says Emily Bittenbender. We got a kick out of her favorite chick toy: the 2004 Harley Davidson V-ROD.

            A lot of financial companies would love to have Emily’s business . . . and yours, too. We feature some of them in “You Are an Object of Desire: Financial Institutions Are Wooing Us as Never Before,” written by frequent contributor Allison Acken, the author of “It’s Only Money: A Primer for Women.” Do these institutions know what a woman wants and needs? You be the judge.

The most stunning example of how you can change your life by taking financial control comes in our article on the art of negotiating, “Just Ask Donald.” “A 22-year-old woman who fails to get her first job offer of $25,000 boosted by $5,000 stands to lose more than $568,000 by age 60,” says economics professor and author of “Women Don’t Ask” Linda Babcock in this story written by communications expert Kirstin Carey. Guess what: Men are eight times as likely as women to bargain over starting pay.

            Maybe it’s time for all of us (including the MAKING BREAD reader who’s looking for hope) to ask for a raise.

  __________________________________

Gail Harlow is the Founding Editor of MAKING BREAD. Send your comments, questions and suggestions to gail@makingbreadmagazine.com.

__________________________________

Click here to try a $2.95 3 Day Pass to MAKING BREAD. Read the articles in our current issue and catch up with all the great stories we’ve published in previous issues.

Click Here to Read

 Previous Editor's Notes

_________