Women and Money

 

Women today are continuing to change the face of our economy. Women now represent 55% of college graduates and 58% of new business owners, and yet women have less financial security than in the past. One of the biggest challenge women have to face is being able to reach old age without depleting their resources or not having enough money to live their remaining lives.

 

Statistically, women outlive men, however they continue to invest less and most women are not properly prepared for retirement. Yet, women still tend to work fewer years than men and make less money. While most women do face greater challenges than men, the good news is that women's attitudes about money and investing are beginning to change due to our economic realities.

 

Here are some statistics of some financial challenges women face:

 

--Women over the age of 70 are twice as likely as men to live in poverty. (Source: US Census 2000)

 

--The average age of a widow is 58. 43% of women over 50 say they are putting together a retirement financial strategy (source: Lovett-Reid Research)

 

--Women in their 50's and 60's are at the height of their earning power. (source: Lovett-Reid Research)

 

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