[MMM 3] Why Women Need To Master Money Matters?
It has been proven that women financial needs are entirely different than men. Also, we encounter various problems with money than men.
Most women don't trust financial advisors. Financial Advisors don't speak women's financial or money language.
*Most women don't know how to manage their money
*Women live longer than men
*Women are more conservative investors
*Nearly 90% of women will end up managing their finances alone
*Among women older than 65, about 60% of them are divorced, widowed or never married
*About 75% of women are widowed at an average age of 56, and 1 in 4 of these women are broke within two months of being widowed
*Less than half of working women have any retirement plan
*Most women in the US get paid 20% less than men
*Women has less retirement income than men
*95% of women will be the primary financial decision maker at some point in their lives
*Women controlled 14 trillion of personal wealth
*40% of the household with children under 18 include women as the sole and primary household income
*Women have more limiting beliefs when it comes to money and instead relies on men to take care of their finances
*49% of women fear of ending broke and homeless or becoming a bag lady
*62% of women express more interest in learning about finances
*90% of women believe that they need to be more involved in their investments
*70% of women fire their financial advisor within two years of their husband’s death
*On average women outlive their husbands by 15 years
*62% of women don’t have a financial advisor
*Only 7% of women trust a financial advisor
* Studies show women are becoming more engaged in their finances, yet the industry has not changed to serve them adequately.
These statistics are not to alarm you but to make you aware of the importance to prepare yourself, no matter what stage you are in life.
I will be giving you a few suggestions to achieve financial fitness before retirement. https://www.financebabe.com/pages/calendar
