9/10 Women will be Left with sole Responsibility for their finance at some point in their lives.
“When it comes to controlling the purse strings and managing day-to-day budgeting and spending, women do well, “But they often don’t get involved in the wealth building part of the equation, leaving control of the invested family capital to their husband / father.
Women also represent two-thirds of family caregivers, whether it’s caring for young children or aging parents. Between their responsibilities at home and at work, many women spend so much time caring for others that they forget to make themselves—and their financial futures—a priority.
The average life expectancy for a woman is just over 80 years, which means not only a retirement that could last 15 to 20 years or more, but also a high likelihood of outliving your spouse . Are you prepared to take on the responsibility of making investment and asset allocation decisions as a surviving wife?
“All too often, women are unaware of the true state of family financial affairs until they are plunged into it due to the incapacitation or passing of their husbands”. “The same is true for divorcees, who suddenly find themselves responsible for their own financial well-being while coping with enormous emotional stress.”
Considering the things you’d prefer not to think about—death, divorce, disability, disaster—allows you to plan for unexpected detours.