What do women in particular need to keep in mind with regard to financial planning?
A recent survey done by a Midwestern bank of 208 women revealed the following about the survey participants, who were all age 30 or older, and all or whom had incomes of at least $40,000. • The median amount of monthly savings the women in the survey said was adequate was $475 – much less than what is needed to live out a comfortable retirement. • 79% of the women said their investment style was moderate or conservative, as opposed to aggressive-yet some aggressiveness in investing is necessary to stay ahead of inflation. • 31% of the women do not have a will, yet 49% believe their finances will be in order if they die unexpectedly. • 26% said they have a poor or only fair understanding of their parents’ wishes-making them ill-prepared to deal with the death of a parent.
