Reprinted with permission of Real Simple.

Protect what you’ve earned and prepare for the future with these five financial questions according to Nicole Webb, SVP, Financial Advisor at Wealth Enhancement.

You did it. You worked hard in your career, climbed the ladder, and now you want to protect your wealth for the future. And according to recent Census data and analysis, you aren’t alone. In 45% of American households, women now earn as much or more than their male partner. Here are five questions you should ask yourself—and five actions you can take—as a female breadwinner.

Am I Investing Well?

Investing is critical for building wealth and preparing for your future retirement. How you invest will be unique to your risk profile and values, but there are a few common practices to consider. You’re probably familiar with diversifying your investments across asset classes and sectors, but you should also be looking to diversify your investments based on taxes. By creating a tax-efficient portfolio—including a mix of taxable, tax-free, and tax-deferred accounts—you’ll set yourself up for success when it comes time to draw from these accounts. Also consider your buy and sell strategy. Most people passively invest during their accumulation years and miss the opportunity to over- or under-weight sectors in their portfolio based on the current macro-economic landscape.

Tip: If you have excess savings today and are in a high tax bracket (and living in a high income-tax state), you may want to consider Treasuries and/or municipal bond-backed savings where you may save on state taxes. Traditional money markets, savings accounts, and CDs all have interest that require tax pay-outs.

Do I Need a Pre-nuptial (or Post-nuptial) Agreement?

Relationships are complicated, and not every marriage will make it to “death do us part.” In the event of a divorce, your assets will be divided up whether or not you have a prenup in place. With a prenup, you will have greater control of how the assets are divided and you won’t be at the mercy of the legal system. The conversation about creating and signing a prenup can be uncomfortable, but it gives you more control in the event that you and your spouse go separate ways.

Tip: Lead with positive intent. Typically, Nicole Webb, a financial advisor and SVP of Wealth Enhancement, sees legal arrangements set up for the protection of the next generation.

Is My Life Insurance Sufficient?

As a critical contributor to your family’s finances, you should ensure that your spouse and family are taken care of in the event of your death. A robust life insurance plan can give you the peace of mind that your family won’t be struggling with finances while they navigate life without you.

Tip: Contemplate the replacement cost of the care necessary for your family in your absence, not just the replacement of lost wages. Wealth Enhancement encourages clients to consider the care they provide for the home, family, pets, etc. “Consider all future expenses you might have like college tuition or weddings,” Webb suggests.

Are My Parents Set For the Future?

As your parents age, talk as a family about estate planning, long-term care, medical directives, and quality of life. Too many families are forced into difficult decisions during health emergencies. With a little planning, you can execute your parents’ intentions if they are not able to provide you with direction.

Tip: Most elderly clients of Wealth Enhancement haven't brought their kids into their financial conversations because they don't want to be a burden. “Taking the initiative to start the conversation can help both you and your parents bridge a tricky subject,” says Webb.

Do I Have a Financial Plan in Place?

A financial strategy should be two things: flexible enough to address an uncertain future and unified. Often we are too busy to consider the ripple effects of our actions. The best laid strategy is prescriptive to you.

Tip: There are three key pillars to financial planning: tax, investments, and legal. A unified plan is one where the three pillars are working together—not in silo. Ask yourself, "Are my three pillars working together?" If the answer is no, take action. A financial advisor is the most common way to delegate this set of responsibilities to benefit you in the long run.