Archive for June, 2012

Hello all !

 

Well summer heat is here with a vengeance  !  Time to head to cooler venues  wherever that may be for you . It’s a great chance to sit back and review all those statements you filed away during  January and tax time. Keeping organized is half the battle in financial success. The other half is having a plan !

Here is a short article on how we as women are doing, and the news is not  good.  I  find women can be under serviced and under educated  by many financial services groups.  The key is to find someone who you are comfortable with and can communicate with.  Now not all is bad news   women are ahead of men financially in several sectors such as savings and debt ( no one should be comfortable with debt) .

Women tend to be less prepared than men for retirement. A shorter employment span , longer life and a greater chance of disability or illness all add up to fewer opportunities to save for retirement and less pension . That’s why planning especially for younger women is really important. So take some of that summer down time and  head to the basement with your lap top and do some research . Educate yourself

 

Women lag in financial planning

Suzanne Sharma

While women are taking charge in the workplace, they continue to lag behind men in financial planning. The gender gap widened in Q1 2012, according to a report by Financial Finesse, an American financial education company.

Key findings include:

  • 43% of women have an emergency fund to cover unexpected expenses, compared to 63% of men;
  • 52% of women are comfortable with the amount of non-mortgage debt they have, compared to 71% of men;
  • 37% of women have taken a risk-tolerance assessment and are aware of their conservative, moderate, or aggressive investment strategy, compared to 57% of men; and
  • 25% of women rebalance their investment accounts, compared to 49% of men.

The gap was narrowest in retirement and estate planning.

According to Liz Davidson, CEO and founder of Financial Finesse, women face more financial challenges than men because they live longer. Also, nine out of 10 will be responsible for their finances at some point due to divorce or death of a spouse, finds the National Center for Women and Retirement Research.

There is some good news, however, because more women are seeking financial education – about 2 to 1 compared to men, finds the report.

“As employers deliver financial education programs that reach women, we should start to see this gap narrowing,” she says.

 

Reproduced with permission from advisor.ca

June 17,2012