The bottom line is that women and money is a vital topic for the growth of the economy. When more women work, the economy grows. The more money women have to reinvest into the economy, the greater the economy is. Women want to learn and there are a growing number of resources online as well that are geared towards educating women about money management, investing money, and building their personal wealth. So find friends with whom you feel comfortable discussing finances,' says Finn. There have never been more books geared towards women, written by women, that discuss the importance of women understanding how to manage their money. The Gender Gap In Finance Is Both A Challenge And An Opportunity It’s no secret that this industry is very male dominated, said Francesca Federico, co-founder and principal of Twelve Points. Get comfortable talking about your money 'Its good for women to talk with other women about finances. Older women are more likely to live in poverty. This makes it extra important for women to build a sufficient retirement nest egg for themselves. That’s 21 years in retirement, and nearly 3 years longer than men. Single men spend a bit more but that may also be because they earn more than women on the dollar. On average, a 65-year-old woman can expect to live to age 86. But men spend more on other things, like takeout, and, according to the Bureau of Labor Statistics, alcohol and cars. So, when it comes to investing, begin with your retirement. Women spend more than men on apparel, according to Smartasset, a financial technology company. Women have longer life expectancies than men but tend to have fewer retirement savings to serve as a nest egg for their future. Society and advertising lead us to believe that women spend all their money on clothing and shoes, leaving very little left for the essentials. This is false messaging. For many older minority women, the poverty rates were even higher.Contrary to popular belief, on average, 89% of women across the world reported controlling or sharing daily shopping needs, compared to only 41% of men. Women are managing the household budgets and the financial burden is on their shoulders. WISER’s The Story is in the Numbers: shows poverty rates among older Americans rose in 2021. women ages 25+ are struggling financially today, and 90% or more support bipartisan policy solutions to help. WISER / National Council on Aging (NCOA) National Surveys – What Women Say: Insights and Policy Solutions for Lifelong Financial Security includes a website, fact sheet and surveys. WISER and SAGE’s National Resource Center on LGBTQ+ Aging fact sheets are designed to help LGBTQ+ couples understand and protect their finances in relation to marriage, divorce and widowhood. New research from the Alliance for Lifetime Income shows Americans close to retirement or retired are still not prepared, with 51% of consumers between 45 and 75 saying they do not have enough retirement savings to last their lifetime, and almost a third saying they are not confident they will have enough to cover basic monthly expenses. In a 2022 study, women correctly answered 45 of financial-related questions, while men were able to answer 55 of the questions correctly. Thank you to all the speakers, sponsors and participants at WISER’s Forum on June 20th featuring the iOme Challenge.
0 Comments
Leave a Reply. |