Women Too Busy to Plan Ahead
Planning for the future seems to be the last thing on many women's minds, a recent Insurance NewsNet story surprisingly revealed recently.
According to an online survey conducted by Women and Company, a Citigroup membership program providing financial education and resources for women, only 42 percent of the women surveyed periodically review their savings, investments, retirement plans or insurance policies.
Why? Because they're just too busy.
"Between family and career, women are juggling so many priorities that managing finances often falls to the bottom of the list," says Lisa Caputo, President and CEO of Women and Company.
Why is financial planning so important for women? you might ask.
Check out these startling facts from Caputo's company:
- Women live longer than men, so they run the risk of outliving their retirement savings.
- Approximately half of all women 65 and over will end up needing some type of long-term care.
- Women usually have much smaller pensions, due to taking time off to raise and care for children and/or elderly parents.
- Women often have smaller retirement accounts because they change jobs much more frequently than men.
The story in Insurance NewsNet referenced above offers several financial planning suggestions for women. So whether you're a woman looking to secure your own financial future or you're concerned about women you know, take a look at these suggestions. The time may come when you'll be glad you did! :)
Get the story in its entirety here.
Comments
Great post.
Sounds like a good marketing angle for insurance agents - "Reviewing Insurance Needs of Busy Women" seminar or something like that.
The potential for referrals in a market like that are fantastic.
Posted by: James Omdahl | April 6, 2006 12:13 PM
Great idea, James! If an agent ran with your idea and grabbed a portion of this market segment, I have a feeling those word-of-mouth referrals would make them a lot of money. Good food for thought!
Posted by: Penny Hagerman | April 6, 2006 12:23 PM