Fact: over the next decade, women will control two thirds of the consumer wealth in the US and be the benefactors of the largest transference of wealth in our country’s history:
Estimates range from $12 to $40 trillion.
Many Baby Boomer women will experience a "double" inheritance , from both parents and husband.
The number of affluent women-investors in the U.S. is growing at a faster rate than that of men. In a 2 year period, the number of affluent women in the U.S. grew 69%, while the number of men grew only 37%.
Women account for 85% of all consumer purchases including everything from autos to health care.
Fewer than 2 in 10 women feel “very prepared” to make good financial decisions. Half said that they “need some help,” and 33% feel that they “need a lot of help.”
Only 7% of women are “very confident” in their ability to fully retire with a comfortable lifestyle
43% of women expect to work past age 70 or do not plan to retire. The majority (59%) guess what their retirement savings needs neet to be rather than using a calculator or advisor.
Only 35% of women use a professional financial advisor.
91% of women say that advertisers don't understand them!
Given the right information (without pressure sales) women have the benefit to choose what makes most sense for themselvs and their families.
Unfortunately most of the financial advisor commuity focuses their attention on men and ignores the specific wants and needs of female clients.
Samuel Rad is an award winning Financial Advisor specializing in Financial Planning for Women in Los Angeles. His clients benefit from his deep understanding of women-specific issues when it comes to planning for retirement, college and investing with low risk.