Women and Financial Security
Women and Financial Security
When a marriage ends, or a spouse dies they become the sole source of financial support for themselves and their family
Women generally live longer than men and consequently spend more years in retirement; therefore they need a larger retirement nest egg
Time outs such as childbirth and child care can cause a woman to put her career on hold and this time away from the job may have a significant impact on a woman’s ability to re-enter the workforce and maintain a growing income stream.
Women are less likely to be part of a company pension plan, because many of them work in a small office environment where there are no company paid benefits or they’ve chosen to work for themselves.
Women are less likely to contribute to RRSPs than men and of the women that did the average contribution was about $1,400 less than the average for men
According to Statistics Canada, employed women ages 55 to 64 had incomes that were half of what men in the same age category made.
Investing and taxes is becoming more complex everyday, and not just for women.
Many women are made to feel inadequate about financial matters
Women have rarely been encouraged to interest themselves in financial matters
In 2003 there were 70,828 divorces. 81% of all one parent families were headed by women
In many instances, death, divorce, job loss, illness or some other unforeseen event can change a woman's situation overnight and many are not financially prepared. This can cause not only financial disaster, but the stress has an impact on our relationships as well. Your financial security is dependent on your willingness to take your financial future into your own hands.
Women and Financial Security - To learn more about this author, visit Sharon Alderson's Website.
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Why are women more financially vulnerable?
When a marriage ends, or a spouse dies they become the sole source of financial support for themselves and their family
Women generally live longer than men and consequently spend more years in retirement; therefore they need a larger retirement nest egg
Time outs such as childbirth and child care can cause a woman to put her career on hold and this time away from the job may have a significant impact on a woman’s ability to re-enter the workforce and maintain a growing income stream.
Women are less likely to be part of a company pension plan, because many of them work in a small office environment where there are no company paid benefits or they’ve chosen to work for themselves.
Women are less likely to contribute to RRSPs than men and of the women that did the average contribution was about $1,400 less than the average for men
According to Statistics Canada, employed women ages 55 to 64 had incomes that were half of what men in the same age category made.
Investing and taxes is becoming more complex everyday, and not just for women.
Many women are made to feel inadequate about financial matters
Women have rarely been encouraged to interest themselves in financial matters
In 2003 there were 70,828 divorces. 81% of all one parent families were headed by women
In many instances, death, divorce, job loss, illness or some other unforeseen event can change a woman's situation overnight and many are not financially prepared. This can cause not only financial disaster, but the stress has an impact on our relationships as well. Your financial security is dependent on your willingness to take your financial future into your own hands.
Women and Financial Security - To learn more about this author, visit Sharon Alderson's Website.
Like this article? Share it with your friends
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 Sharon Alderson (Visit Sharon's Website) Sharon has over 25 yrs experience in the financial services industry. She holds the Certified Financial Planner (CFP) and the Financial Divorce Specialist (FDS) designations. Sharon is a member of the Academy of Financial Divorce Specialists and has completed training to help divorcing couples reach a negotiated settlement around financial issues. Sharon is instrumental in helping and supporting her clients to gain clarity and direction. She works with women experiencing transition in their life, whether from job loss, the loss of a life partner, or a relationship through separation or divorce. Sharon provides education and guidance and takes the time to get a clear understanding of her clients’ goals. She makes a difference in people’s lives by designing a Financial Plan which includes all aspects of Financial Planning including building wealth, protecting clients and their families against illness and death, cash flow, retirement and tax planning. She has always put her clients’ needs above her own with encouragement and support no matter what obstacles life throws in their way. She has helped many families achieve a comfort level in their financial lives, knowing she is looking out for their best interest. Sharon is also an experienced speaker on topics relating to women such as “Insights to Financial Transitions”, “Worry or Wealth”, “Financially Planning Your Divorce” and more.
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Referred by: http://www.womenforwomen.ca
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