Women Face More Challenges Than Men

According to the U.S. Census Bureau, nine out of 10 women will be solely responsible for their own financial health at some point in their lifetime. Did you see that word solely? Add to the mix that women represent 50 percent of the workforce and 42 percent of people with assets exceeding $600,000. Also, women account for 50 percent of business owners in the U.S. So, I ask you, don't they deserve some consideration?

Financial planners should be targeting women more than ever because of all those challenges that they face. For example, consider those who step back from work in order to raise a family. And, of course, don't forget that women generally live longer than men; as a result, they are subject to financial turmoil. Then you have to factor in the problem that women still earn less than men, even in similar jobs, and you come up with a bottom line that women will probably reach retirement age with less than desired resources. In other words, they will outlive their money. Not good.