In a recent blog post, Mailey Rogers Group discussed the complicated relationship between women and wealth, and how it reflects the unique female experience and perspective. While women have excellent instincts and make exceptional investors, they are often less confident in their abilities than their male counterparts. Of course, it doesn’t need to be this way! Mailey Rogers Group is dedicated to the financial empowerment of women, and will continue to support their needs and goals at every stage of life.
To further our discussion, let’s look at some more issues surrounding women and wealth. A study by British healthcare company BUPA revealed some interesting information about women and aging. While this particular survey was from 2010, the findings are timeless: women are worried about looking older and less attractive, becoming seriously ill, being alone and destitute, or becoming dependant on others. These are serious concerns! Another article published on Oprah’s website revealed similar findings, and is a great read. Women certainly have a lot to deal with as they age – some certain, some situational – and this is heavy stuff. Here are a few recurring themes we’ve noticed:
Women fear losing it all.
There is a very real concern among women about losing everything they have. Men often earn higher incomes and have greater confidence in their investment abilities, giving them a sense of security. Women are not as naturally confident as men and may have less access to income and investment opportunities, leaving them with a sense of anxiety about the future. Specific elements of this stress can include a divorce, the death of a spouse (and subsequently, the loss of their income), not having enough money for retirement, dealing with unforeseen circumstances that drain one’s savings, or making poor financial decisions that leave inadequate funds for retirement.
Women fear becoming dependent on others.
Whether it’s your spouse, your child, other family members or government assistance, no one wants to feel completely dependent on another. Autonomy and independence are valuable to all people, and women (understandably!) do not want to lose control of their lives as they age. Additionally, women do not want to become a burden on their loved ones in the later years of life. This fear plays into the previous one, as losing it all could result in a situation of unwanted financial dependence.
This is why Mailey Rogers Group cares.
The financial empowerment of women is so important, and completely attainable. By understanding your needs, goals, risks and options, we can help you make smart choices and create financial security that lasts. Our team can help you understand your finances in order to make informed, personalized decisions that positively contribute to your lifestyle and financial security. By gaining knowledge, you can lose much of this fear!
There is no need for stress – only support and financial education!
We’re all aging, and we all have to plan for the future. Don’t let anxiety have a negative effect on your relationship with money. Women make exceptional investors – if you aren’t confident in this area of your life, you can be. Join us on May 10th for a women’s only social event on investing, led by MRG Wealth Advisor Brie Fraser.
Smart Woman, Smart Investor
Wednesday May 10th
6:30 pm – Drinks and Nibbles
7:00 pm – 8:00 pm – Presentation