The Importance of Women Achieving Financial Confidence
Married or single, women are finding that taking an active role in their financial futures is critical. About 80% of married women outlive their husbands, and nearly half of all widows say they wish they’d been more involved in managing their finances when their spouse was alive.
Financial Planning | Whether you have a career or rely on someone else for income, are retired or still dreaming of retirement, don’t take your financial future for granted. It takes work. We can help. Schedule time with us to review your situation and create a financial strategy you can feel confident about — whether you have a partner or not. Continue reading to know more information about The Importance of Women Achieving Financial Confidence…
The reality is women, on average, earn less than men over their lifetime and spend more time out of the workforce, often caring for children or aging parents. They therefore tend to save less, invest less and receive a lower Social Security benefit, putting women more at risk of outliving their money in retirement. However, over the long term, women who invest earn a higher rate of return than men, on average.
Several studies have shown women’s portfolios outperformed men’s by an average of 0.4% to 1.8% annually.Industry watchers have theorized several factors that could account for this boost:
- Women generally are patient, choosing long-term, buy-and-hold strategies versus reactive moves.
- Women often take a balanced investing approach, diversifying their assets across varied financial products and risk levels.
- Women are information-seekers, researching their options beforehand and looking for guidance from financial professionals.
- Women often have more time to invest, because they live longer than men, on average.
Make your longevity an advantage. Emphasize on the Importance of Women Achieving Financial Confidence. Start today to work toward the retirement you’ve envisioned. We’d love to help.
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