Inspiring Women (part 1)

My Name is Jane…

I raised my kids, have worked at a local business steadily contributing to my 401k and feel I should be on track to retire… but I’m not so sure.

My husband handled all the household finance and investing, I kept the bills paid and the checkbook balanced. I have read some books on investing and finance but struggle with how they apply to me. I went to a class on retirement planning but didn’t know what questions to ask or what steps to take.

If you’re like many of today’s financially empowered women, you can relate.

Women have made impressive strides over the past few generations. Women are more educated today, earn higher incomes and assume more powerful roles in both the workplace and their families.

However, almost 40% of women surveyed in a recent study said they feel financially insecure. Women today have the task of breaking the final barrier to gender equality, and financial empowerment. Many industries and professionals still today fail to recognize women as distinct and valuable investors.

Men and women statistically speaking view financial matters from radically different perspectives. Women are more inclined to take a more holistic approach whereas men are more likely to make decisions based on hot topics. Women generally feel burdened with worries that go along with the increasing responsibilities that require greater financial decisions. Men tend to see themselves as more analytical and open to taking more risks. Women often feel when they ask questions the lack of responses or care is an issue of power and control where their counterparts take it as they don’t trust them.

As society changes and women become equal financial decision-makers, it is easy to see where misunderstandings, miscommunication, and conflicts arise. It is not surprising that money is the major cause of disharmony in relationships.

It is important for women to become empowered and confident in their financial decisions. A large percentage of women will be solely responsible for their finances at some point in their lives if not already, but most do not feel prepared.

Stay tuned as we continue to talk about this issue and give women steps to take to move forward. For men reading, this is important for all the women in your life.

 

*Source The Allianz Women, Money and Power Study

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