Most professional women I know worry about winding up as a poor old bag lady. They know the odds are they’ll outlive their husbands, and they’re worried about not having the resources they need for the basics – food, clothing, rent and medicine.
A lot of this panic over money comes through in a recent study from Allianz Life. Just 10 percent of those responding to the survey said they felt extremely secure financially. Fifty-seven percent said they felt somewhat secure and 33 percent said they didn’t feel secure at all.
Nearly half of the women polled said a lack of knowledge was the biggest obstacle they faced. Others said they found finance and investing to be confusing or were too busy with their careers or family to pursue the knowledge they need.
But when asked what they’d tell their daughters, older women said to start planning early and never become dependent on someone else for financial security.
That’s solid advice for everyone.
With practical, informative consumer advice, I’m Ilyce Glink, News-Talk 750 WSB