Women as wealth builders - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Women as wealth builders

Print
Font Size:
Default font size
Larger font size

Related Stories

Posted: Friday, May 31, 2013 11:00 am

When it comes to money, women have their own style. The wealth-building strategies that resonate with women and lead them along the path to greater financial freedom are not the same as those for men. We assimilate money information differently — not only because of cultural attitudes and beliefs about women and money, but because of how our brains take in, process, and use information. How much of your brain power is being applied to decreasing your financial vulnerability and increasing your financial know-how and well-being?

Financial education for women has never been more imperative. There is considerable good news when it comes to women and money. Consider this:

• Women now control over 50 percent of the wealth in the United States.

• By 2030, women may control as much as two-thirds of the nation’s wealth.

• The number of wealthy women is growing almost twice as fast as the number of wealthy men (45 percent of American millionaires are women).

The not-so-good news is that many women don’t feel confident about managing their own money, even though they will need to do so. Since women typically live longer than men it means that many of us will be managing our own financial affairs at some point because of being widowed, single or divorced. It also means that we need to save more and save wisely for our retirement.

Two out of every three American women say that they feel they have little knowledge of financial products and services. Are you one of them? If you are thinking: “I wouldn’t know where to start, I have too much debt, I’m too young, too old, I don’t want to lose what I already have,” remember that every successful, wealthy woman confronted these or similar obstacles, and THEN she got the financial information she needed to take the next step.

We are the role models for the next generation of women and it will be up to us and our female descendants to manage much of the $41 trillion expected to pass through the generations over the next 50 years. Are you helping your children learn about personal finances so they can gain financial independence, manage debt, and thrive in the world that lies ahead? It’s a great gift to give.

My best advice: You don’t wait until you have cavities to learn how to brush your teeth. Make a step-by-step plan now to educate yourself about the world of finances. Then pay it forward.

• Cynthia K. Fick is founder of Financial Life Planners LLC in Ahwatukee. Reach her at (480) 346-4073 or ckfick@cox.net.

More about

More about

More about

  • Discuss

Celebrity chef Restaurants in Phoenix / Scottsdale

4.8Food 4.5Decor 4.5Service 4.8Food 4.6Decor 4.6Service 4.8Food 3.7Decor Service 4.8Food 4.5Decor 4.8Service 4.7Food Decor 4.4Service 4.7Food …

Published: July 30, 2016 - 5:58 pm @ https://www.zagat.com/c/phoenix-scottsdale-z/celeb…

The Red Cross takes action to give Buckeye residents a place to cool down following power outages

BUCKEYE, AZ - People in Buckeye have been waiting all day Saturday for their air conditioning, and other appliances, to kick back on after Fri…

Published: July 30, 2016 - 5:52 pm @ http://www.abc15.com/news/region-west-valley/bucke…

SUNDAY: 'Bar Rescue' episode featuring Coolidge's 'Gallopin' Goose Saloon' airs on Spike TV

COOLIDGE, AZ - The latest episode of Spike TV's drama-filled show, Bar Rescue, is taking America south of Phoenix to small town U.S.A. -- Cool…

Published: July 30, 2016 - 4:21 pm @ http://www.abc15.com/entertainment/events/sunday-b…

An After School Satan Club could be coming to your kid’s elementary school

They’re here plotting to bring their wisdom to the nation’s public elementary school children. They point out that Christian evangelical group…

Published: July 30, 2016 - 4:19 pm @ https://www.washingtonpost.com/local/education/an-…

Historian Recounts Role of Chinese Americans Who Fought in US Civil War

Print African Americans Reflect on US Civil War 150 Years Later, US Civil War Still Resonates Audio Interview with Chinese-American expert Rut…

Published: July 30, 2016 - 4:22 pm @ http://www.voanews.com/content/surprise-asians-fou…

A complete list of the many powerful women who took center stage at the DNC

When Hillary Clinton took the stage on July 28 to accept the Democratic nomination for president—becoming the first US woman in history to do …

Published: July 30, 2016 - 3:21 pm @ http://qz.com/745798/a-complete-list-of-the-many-p…

Is This The Most Boston Thing To Have Ever Happened?

One Reddit user’s trick on his “foodie” brother-in-law has Bostonians going crazy on social media.After years of performing his state-mandated…

Published: July 30, 2016 - 2:27 pm @ http://www.thedailybeast.com/articles/2016/07/29/i…

Cooling center opens in Buckeye as power outrages linger

BUCKEYE, AZ (KPHO/KTVK) - Various parts of Buckeye still remain without power following Friday night's storms.  Arizona Power Service reports …

Published: July 30, 2016 - 2:21 pm @ http://www.cbs5az.com/story/32579340/cooling-cente…

Dirty Laundry Alert: Kelly Townsend Drops E-mail Bomb on CD5 Hopeful Andy Biggs

Stephen Lemons A A Andy Biggs probably wishes he never stopped by a recent Legislative District 16 meeting in Mesa, where he reportedly picked…

Published: July 30, 2016 - 1:48 pm @ http://www.phoenixnewtimes.com/news/dirty-laundry-…

This baby Harry Potter fan grew up to be like Hermione Granger

Taken in 2003, this adorable photograph of a six-month-old baby girl with her mum is a perfect example of early Harry Potter fandom.  The baby…

Published: July 30, 2016 - 12:48 pm @ http://mashable.com/2016/07/30/harry-potter-baby/

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…