Fifty-six percent of women recently surveyed in the U.S. by MDRT rely solely on their husbands when it comes to financial planning.
If a busy woman is not totally confident of her ability to make the right decisions about money, it’s natural to put financial matters towards the bottom of her to-do list.
There are several reasons we should encourage women to take a more active role in money matters:
On average, women live longer than men by seven years.
The number of marriages ending in divorce continues to increase.Usually a woman’s standard of living declines following a divorce.
Women typically earn less and spend less time in the work force.Because of this, the allocation of funds is even more important!
How do you encourage your female clients to have an active role in their family’s financial decisions?What fears do you believe women have when it comes to finances and how do you help them overcome those fears?
Jennifer Thursday, July 10, 2008I agree, women should be financially indepenedent no matter what her marital status. I work with some women clients and am also part of investment club run by women. I constantaly hear about women in dire straits because they are getting divorced or in 2 cases where they were recently widowed. Its very truamatic to have to deal with financial issues when you are bereaved.
READER COMMENTS
Friday, March 31, 2006When you are a single woman living alone and possibly with children you can not have any fears. You have to do what is necessary to make all the financial decisions in a wise manner as so many single women have been doing for years. If a woman is married and she feels afraid to step up and take charge about finances whether hers or shared with her husband she needs to not be afraid and just realize that it takes two minds to function in any relatonship.
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