When Two Becomes One: Women Left Alone
 

October 18, 2000  -- Francine Quitko's life seemed set. Happily married, with a young daughter. But then, five years ago, Francine's world fell apart. Her husband Alan, developed a brain tumor, and passed away six months later.

"I didn't know anything about finances," Francine said. "I had to start educating myself on who I was going to use to help me produce income for my daughter and I to live."

Francine immersed herself in organizing and understanding the family finances, sitting down at the dining room table with a pen & a notepad.

"I think the most important thing a woman can do for herself, before she even goes to anyone else, is sit down and make an itemized list of her expenses and her income and figure out how much everything comes in and goes out," said Carla Bond of Merrill Lynch. "Then she can bring it to a professional who will sit down and make sense out of those numbers."

And according to the experts, during this difficult time, it's best to take things slowly.

"You don't need to make any huge decisions," Bond said. "You don't need to decide to sell your house in the first, actually for the first year. You shouldn't try and do anything really major. You can start making investment decisions and start getting a handle on your budget. But it's wise not to be forced or feel like you need to do anything drastic in the first year."

It's the time before a tragedy occurs that a woman should pay attention to the family finances, so that if she's left a widow, she'll be better prepared to make wise investment decisions to secure her family's future.