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Patricia Kummer: Women's financial security may be at risk – Douglas County News Press

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Patricia Kummer: Women's financial security may be at risk – Douglas County News Press

Looking back 39 years to October of 1985, I finally completed my studies for the certified financial planner certification and was itching to share my knowledge with others. Having just completed almost three years of coursework where I was often the only female in the room, I decided to learn more about why there were not more women in finance. This revealed a myriad of other issues that to this day continue to plague women preparing for retirement. I set off to teach classes at the local library and start writing a finance column for this newspaper to empower others to be financially prepared for an unknown future.

Fast forward to the present day, and I come across a recent UBS study that states 85% of high-net-worth women across every generation still tend to leave long-term financial decisions to their male counterparts.¹ This includes women running businesses, households and managing daily finances for themselves and their families, often spanning three generations.

Early in my career, I studied the different investment styles by gender, which helped me significantly when working with couples who were not always on the same page. I was able to give them permission to think about money differently, because it often means different things depending on if you are the rainmaker or the caretaker. Being on a career track myself, as well as a wife and mother and, yes, daughter, I too was juggling three generations along with both my and my husband’s businesses. I get it: There is not enough time in the day, and you must prioritize.

Gender differences proved fascinating in learning about the hunter-gatherer versus the nurturer. Even though we don’t live in caves anymore and women and men equally have successful careers, those nurturing or hunting instincts never go away. Therefore (and what I love about my husband), men always seem willing to run faster, work harder and do whatever it takes to succeed, in my opinion. This hunter mentality is often mirrored in the male’s investment style. This may include switching out of investments prematurely if they are not performing or always looking for another advantage. Women are more likely to want a plan and be loyal to it for long periods of time before making changes. Both types of investing have their pros and cons.

The female’s nurturing character and the juggling act often left her career or her self-needs last on the priority list. This can equate to lower Social Security due to an erratic work life or time off to stay at home with children or parents — or even following the hunter-gatherer around the globe for his career.

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Women and their family members need to know that pensions and Social Security may be lower than those of their male counterparts, and investments may be more conservative. Women also tend to live longer, therefore needing more money. Married women with families may have had less of an opportunity to fund a 401(k) plan, especially if they worked part-time for a while or earned lower wages. It is important to plan well considering these circumstances.

It is crucial to meet with an adviser and start your retirement plan if any of this information sounds familiar for you or someone you know. Education is key, and taking action is now a priority to prepare for the future.

1 “Women Put Financial Security at Risk by Deferring Long-Term Financial Decisions to Spouses,” March 2019. UBS.

Patricia Kummer is a managing director for Mariner Wealth Advisors.

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Finance

Members-Only Event: Personal Finance 2026: How To Make Smarter Money Decisions

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Members-Only Event: Personal Finance 2026: How To Make Smarter Money Decisions

Start The Year Off Learning & Earning

The beginning of the year is a great time to think about how to make smarter financial decisions in 2026. But with volatile interest rates, shifting markets, budgeting realities and rapid advances in AI technology, it can be hard to know how to best navigate your spending, saving, and investing—from major decisions such as buying a home or saving for retirement to everyday shopping. Join us January 28th at 12pm ET for a members-only panel moderated by Associate Editor Emma Waldman with clear, actionable guidance and a 101 of many of the new AI tools. This forward-looking discussion will help you navigate the year with confidence and clarity.

We’ll Discuss:

  • Actionable money moves for the year ahead, from investing in an uncertain environment to managing debt and strengthening long‑term plans
  • What’s really driving the 2026 financial landscape, including inflation trends, rate expectations and the signals that matter more than the headlines
  • Clear, practical guidance to stay financially resilient, with expert insights on habits, strategies and trends to build your confidence
  • How new technology (especially AI‑driven tools) is reshaping personal finance, and what consumers should embrace or approach with caution.

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Finance

Penn Township fires finance director after about 5 months on the job

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Penn Township fires finance director after about 5 months on the job

The Penn Township commissioners unanimously voted Wednesday to fire Finance Director Jaime Peticca after about five months on the job.

Peticca was hired by the township Aug. 20 to fill a vacancy left by Colleen Gain, who resigned in June.

Township Secretary/Manager Mary Perez declined to comment on the reason for Peticca’s termination. Perez said her last day was Jan. 9.

Attempts to reach Peticca on Wednesday evening were unsuccessful.

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Before working for the township, Peticca worked about three years as manager of Trafford Borough and 3½ years as secretary and zoning officer for South Greensburg. She also previously worked as a recruitment specialist and membership manager for the Girl Scouts of Western Pennsylvania.

Perez, who is operating as the interim finance director, said the township will advertise the position in the coming weeks.

It has been difficult for the township to fill vacant job posts in recent years, she said. A code enforcement officer and building inspector role that commissioners will vote on filling next week has been empty for nearly two years, Perez said.

“It’s helpful if (candidates) have government experience. A lot of folks do not,” Perez said. “It’s difficult to find someone from another municipality. A lot of what we do is different than the private sector. There’s a lot of unique reporting requirements that we have that they just aren’t familiar with when they come in.”

The finance director is the only employee of its kind in Penn Township, meaning that person manages everything from accounts and payroll to audits and financial reporting.

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“We have a larger budget,” Perez said. “We need to have someone here who understands how to read those financial statements, how to prepare those financial statements alongside our auditors and perform the accounting functions that are necessary to issue those statements.”

The township commissioners approved a $12 million spending plan for 2026 in December, holding property taxes at 17.4 mills and the fire tax at 1.3 mills.

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Finance

3 smart financial habits to incorporate in 2026

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3 smart financial habits to incorporate in 2026

While you certainly do not have to wait for the beginning of the new year to overhaul your financial habits, the calendar’s fresh start can offer a natural opportunity to reassess. But all too often, when we identify an area of our life that is not quite going as planned, there is a temptation to tear it all down and start from scratch, in the form of a broad-ranging — and overwhelming — resolution.

Sometimes, though, making small tweaks to existing habits, or introducing some fresh ones, is all it takes to course correct, allowing one good financial decision to snowball into the next. Sounds more manageable, right? Read on for some ideas to get started.

1. Dial up your retirement contributions

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