Why Women Must Become Investors
I came across an article today that resonated with me to the bones, so I thought I’d share an excerpt with you….
Leave a comment with your thoughts about this (male or female)…. I’d love to hear from you 
5 Reasons Why You Should Be Rich by Kim Kiyosaki
A young journalist approached me recently and said passionately, “We have to make women aware that they have to take charge of their money. They cannot depend on someone else to do that for them!” After talking with her more, I discovered where her passion was coming from. It turns out her 50-year-old mother recently divorced . She was left with basically nothing and had moved in with her daughter. Her daughter was now supporting herself and her mother. This situation alone was a wake-up call for the young journalist, and it shook her up. In looking ahead, she realized that if her steady paycheck stopped, she had a total of about $7,000 to fall back on. She was suddenly propelled into action .
The reasons for becoming investors are very different between the sexes. We know that we lead very different lives than our mothers did, but you may be surprised at just how different. Here are five sound reasons why women need to get into this game called investing.
1. The Statistics
The statistics about women and money are startling. These are U.S. statistics, yet I find that for other countries around the world these statistics are either similar or are trending in the same direction.
In the United States:
• 47 percent of women over the age of 50 are single . (This means they are financially responsible for themselves.)
• Women’s retirement income is less than that of men’s . This is because a woman is away from the work force an average of 14.7 years, compared with 1.6 years for men.
• 50 percent of marriages end in divorce . And who typically ends up with the children? The woman. Now she is solely financially responsible for herself—and her children. And what is the No. 1 subject couples fight about? Money.
• In the first year after her divorce, a woman’s standard of living drops an average of 73 percent .
What are these statistics telling us? They tell us that more and more women, especially as they become older, are not educated or prepared to take care of themselves financially . We’ve spent our lives taking care of our families but have no ability to care for ourselves in this vital way. We are depending upon someone else to do it for us—a husband or partner, a boss, a family member or the government.
Until next time, J.
"Take control of your destiny or someone else will"
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June 24 2008 04:53 pm | Home Business Ideas and Wealth Strategies
June 25th, 2008 at 12:02 am
Great article, thanks for posting! I couldn’t agree more. My mother is 51 and divorced and now doesn’t have much to show since she stayed home to raise the kids. She didn’t save or invest at all.
I’m only in my 20s but am doing everything to ensure I don’t wind up in the same boat.
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