Money Savers: Empowering Women Financially
By: Wendy Suares, KARK 4 News
Updated: October 21, 2012
This week's Money Savers report is all about empowering women financially.
It wasn't too long ago when most women let their husbands handle all the finances, but times are changing. Women now make 80 to 90% of the financial decisions for their households.
More women are bringing home the bacon and deciding how to spend and save it. But be careful who you turn to for advice.
"You want to make sure it's a trustworthy person," said financial planner Gary Garrison.
Garrison reminds women to start financial planning early, and remember to keep your will up to date.
"When was the last time you had your wills or trust or beneficiary designations updated?" said Garrison.
It used to be mostly men coming to Garrison for advice, but with the tide slowly turning, more couples are doing their planning together.
Garrison said, "So that they're both aware of what they have financially. So that way if something unfortunate happens, the other one is well aware of where they stand."
Only 34% of women are confident they'll have enough money to last through retirement. That's just another reason why it's so important for women to take an active role in their financial planning.
It wasn't too long ago when most women let their husbands handle all the finances, but times are changing. Women now make 80 to 90% of the financial decisions for their households.
More women are bringing home the bacon and deciding how to spend and save it. But be careful who you turn to for advice.
"You want to make sure it's a trustworthy person," said financial planner Gary Garrison.
Garrison reminds women to start financial planning early, and remember to keep your will up to date.
"When was the last time you had your wills or trust or beneficiary designations updated?" said Garrison.
It used to be mostly men coming to Garrison for advice, but with the tide slowly turning, more couples are doing their planning together.
Garrison said, "So that they're both aware of what they have financially. So that way if something unfortunate happens, the other one is well aware of where they stand."
Only 34% of women are confident they'll have enough money to last through retirement. That's just another reason why it's so important for women to take an active role in their financial planning.
