Why women need financial planning
The Majority of women will spend almost one-third of their adult lives on their own financially.
At one point in their lies, most women will enter a time of transition.
Women enter times of financial transition when they become widows, divorce, start working, and retire.
Women seem to have less time than men to learn how to manage their financial resources.
Women live longer than men, by an average of seven years.
50% of all women older than 65 are widows. Widows frequently suffer a sharp drop in their standard of living.
50% of all first marriages end in divorce. 60% of all subsequent marriages end in divorce.
A woman's standard of living declines as much as 45% in the year following a divorce.
Most divorced women have spent their divorce settlement within two years of their divorce.
It is difficult during times of financial and emotional transition to think and plan clearly. These are the times women need to be their most financially astute
The above article is written by Angel Benton McCall of Lifetime Financial Strategies.
This article is made available to you from Women in Divorce Financial.
Eva Sachs is the founder of Women in Divorce Financial. She is a Certified Divorce Financial Analyst (CDFA™), has her CFP™ designation and is a member of the Institute for Divorce Financial Analysts.
She can be reached at esachs@womenindivorcefinancial.ca or by visiting www.womenindivorcefinancial.ca.