At the Transition Network’s Personal Finance peer group meeting last year, one woman admitted that she was “afraid to open her monthly financial statements;” others in the group knew the feeling. Less than positive experiences in financial planning had been common, according to Marsha Fox, an active member of The Transition Network’s (TNN for short) Leadership Council and Program Committee.

TTN chose Fidelity Investments’ presentation, “Fundamentals of Retirement Income Planning,” as the first in a series of talks by finance professionals after prescreening it: “educational, trustworthy and not focused on selling,” as TNN’s Charlotte Frank describes it. Dan Fitzgerald, a CFP and Fidelity regional planning consultant for northern Manhattan, spoke to a group of about 20 women last Thursday evening at Fidelity Investments’ Park Avenue offices at 52nd Street. He went through the basics: increased financial responsibility, transition from accumulation to distribution, risks like longevity (a happy “risk” in many ways, imprudent rate of withdrawal, inflation, asset allocation strategies in a longer planning horizon and the effect of possible heath needs. Considering these factors, he stated, would minimize key risks, determine expenses and income and develop a strategy to give us the retirement we envision.

The audience’s numerous questions, would suggest that these women certainly were doing their homework. Indeed, according to Mr. Beck, men tend to “shoot from the hip” when it comes to financial planning and decision making, and “women are much more likely to take their time and research.”

The Transition Network is the brainchild of two friends, Christine Millen and Charlotte Frank, now officers at TTN, one on the verge of retirement in 2000 and the other retired from successful professional careers. As women “who had achieved a great deal of professional satisfactions in positions of responsibility and challenge, they were concerned that retirement might be a great thud,” according to Ms. Frank. Seeking resources to address the major concerns at this age and stage – financial security, healthy living, structure, volunteer outlets and friendship and networking in the transition to a satisfying retirement – they found no books, associations or “blue prints.” The women’s organizations supporting networking, education and success in myriad professions, did not seem to exist for women over 50 seeking just as successful a retirement.

TTN began with 10 members meeting in a living room. Five years later and soon to open in Atlanta and Chicago, the New York group now numbers 400 members and 700 more interested parties who read its monthly e-newsletter and participate in a variety of “peer groups” and volunteer activities focusing on the needs of women and children.

Volunteer work at TTN is “a high priority with a major commitment to enable members to engage in challenging and rewarding civic activities… There is a huge demand by members to get involved,” says Ms. Frank. As Ms. Millen describes it, there is “still nothing like the TTN, a grassroots sum of skill, interests and power.”