Women and Their Finances
The modern woman works hard and has her own place in the world. According to the U.S. Bureau of Labor Statistics, since 2009, nearly 4 in 10 working wives out-earned their husbands. Whether they are married or single, they deserve to be secure in the knowledge that they are financially literate and prepared. Surveys show that one-quarter of the women in the United States are the primary financial decision-makers in their households.
The fact that that number of women are in control of the purse strings does not reflect in their planning. Just one-third of women have a detailed financial plan. Younger women are worse off. When it comes to the youngest segment (ages 25-34), statistics show that only 1 in 10 has a financial plan in place.
Women need to take control of their financial security. There should be no reason that they are not planning correctly and taking advantage of any of the investments or plans available. Apparently 86% of women do not know how to invest or choose a financial product. This sort of number is alarming to say the least. The fact that it is over 80% needs to change.
If you earn money or are in charge of the finances of the household, a strong financial plan should be a priority. Getting advice either online or from a licensed professional is something that can be done fairly simply. Do some research, and get involved sooner rather than later. That way your future will be in a better place than it is now. Make sure you are really in control. Make a financial plan a part of your life.
IMPORTANT DISCLOSURES
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. Member FINRA & SIPC