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Women in Retirement

There have been many articles written about finance, investing, and retirement.  Most of these articles are gender neutral using the assumption that men and women are the same.  First and foremost, women live, on average, 5-6 years longer than males.  This age differential alone is very significant in retirement planning.  But there is much more.

In a recent publication from Vanguard entitled “Investing Basics Guide for Women”, they pointed to a website, for facts on the female consumer.  The Marketing to Women Quick Facts indicates the following (we have included their references):

  1. 85% of all consumer purchases are accounted for by women.  This includes 91% of homes, 66% of PC’s, 92% of vacations, 80% of healthcare, 65% of new cars, 89% of bank accounts, and 93% of food.
  2. American women spend about $7 trillion annually, over half of the US GDP.
  3. Senior women control over $19 trillion of net worth (MassMutual Financial Group 2007).
  4. Women over the age of fifty are the healthiest, wealthiest and most active generation of women in history (Demographics, by Mark Miller).

These are statistics that are important but don’t tell the real story.  Often times, women are the caretakers for others, and, as such, have additional concerns, especially when the important people in their life cannot support themselves.  This can leave indelible marks which may cause women to make more cautious, conservative decisions.  We understand that many women become the heads of households and need to make sure that their money will last.

Vanguard indicates that women think in terms of goals, not returns and numbers. They are more inclusive of the entire family and research more fully before making a decision and our empirical data backs that up.

Our investment team at Edu4Retirement, Inc. provides education about your choices and helps make you comfortable with your portfolio, hence the name, Edu4Retirement, Inc.  We know that women are the decision-makers, some by choice and others by circumstance.  Whether it is by choice, death or divorce, many women are financially on their own for many years.

We understand women may be less likely to take on investment risk and would appreciate a more collaborative approach to investing. We would welcome the opportunity to work with you to meet your goals.