Women and Finance... The Latest Statistics
I was talking with a lady recently who said she didn't worry about retirement income since her husband took care of everything. I asked, "How much income will you have during retirement?" She didn't know. Was she worried about running out of money? She hadn't thought about it.
I suggested she involve herself a little more in the retirement process since there is a large probability she'll have to manage the family finances sometime in the future. This leads me to share some statistics that I provide to my clients.
I suggested she involve herself a little more in the retirement process since there is a large probability she'll have to manage the family finances sometime in the future. This leads me to share some statistics that I provide to my clients.
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According to the Social Security Adminstration:
90% of women will be responsible for their own finances at some point
A 65 year old female has a 42% chance of living to age 90
A 65 year old female has a 42% chance of living to age 90
Women live 4-6 years longer than men in the United States.
What's the average age of widowhood in America? 59.6 Source: US Census Data, 2011
By 2030, 66% of US fortune will be in the hands of women. Source: Harvard Business Review. 2009
Women control over 60% of the personal wealth in the United States. Source: Catalyst 2012
75% of nursing home residents are women with costs averaging $75K per year. Source: Metlife Study on Finance and Female Executives, 2010
Nearly 80% of the total spending in America is controlled by women. Source: 2009 Boston Consulting Group
7 out of 10 women say the need professional help managing their finances. Source: American Association of CPA's Study, 2010
50% of women acknowledge they need help managing retirement. Source: IRI Study on Women and Retirement, 2011
Regardless of net worth, homelessness is the number one fear of Ameican women today. Source: Fiancial Advisor Magazine.
Running a close 2nd in fear is worry about running out of money as a result of over investment in cash. Source: IRI Study of Women and Retirement, 2011
Women are typically Savers and desire Freedom and Peace of Mind.
My job is to make sure I'm meeting the income desires and needs of both the wife and the husband. I want to understand how you'd like to live during retirement and help you accomplish those goals.
I have partnered with one of the top income planners in the country and can now map out your entire retirment income on one easy to read page. Through the use of this proprietray software, we are able to clearly illustrate how each guaranteed income source (Social Secuity, Pensions, etc.) will interact under varing life circumstances - such as layoffs, loss of pension, or the death of a spouse.
As a courtesy, I would like to extend my personal invitation for a private Retirement Planning consultation which will include your personalized "Income for Life" report.
Please contact me (Cory Payne) at cpayne@beehiveinsurance.com or 801-685-6860 so we can set up a time.
Cory Payne
Beehive Insurance Retirement Planning Services
cpayne@beehiveinsurance.com
801-685-6860
7 out of 10 women say the need professional help managing their finances. Source: American Association of CPA's Study, 2010
50% of women acknowledge they need help managing retirement. Source: IRI Study on Women and Retirement, 2011
Regardless of net worth, homelessness is the number one fear of Ameican women today. Source: Fiancial Advisor Magazine.
Running a close 2nd in fear is worry about running out of money as a result of over investment in cash. Source: IRI Study of Women and Retirement, 2011
Women are typically Savers and desire Freedom and Peace of Mind.
My job is to make sure I'm meeting the income desires and needs of both the wife and the husband. I want to understand how you'd like to live during retirement and help you accomplish those goals.
I have partnered with one of the top income planners in the country and can now map out your entire retirment income on one easy to read page. Through the use of this proprietray software, we are able to clearly illustrate how each guaranteed income source (Social Secuity, Pensions, etc.) will interact under varing life circumstances - such as layoffs, loss of pension, or the death of a spouse.
As a courtesy, I would like to extend my personal invitation for a private Retirement Planning consultation which will include your personalized "Income for Life" report.
Please contact me (Cory Payne) at cpayne@beehiveinsurance.com or 801-685-6860 so we can set up a time.
Cory Payne
Beehive Insurance Retirement Planning Services
cpayne@beehiveinsurance.com
801-685-6860
