Financial Facts About Women
With Mother's Day approaching, here are some financial facts about women:
- Women control $14 trillion in personal wealth assets, and represent 51% of the population.
- 95% of women will be their family's primary financial decision maker at some point in their lives.
- Women represent 57% of all Social Security beneficiaries.
- Widows outlive their husbands by an average of 14 years.
- While women are the sole or primary breadwinners in 40% of US households, their life insurance coverage is only 69% of the average coverage on men.
It's not just about money. Women want protection and peace of mind as well, for themselves, their husbands, kids and parents. They want short-term simplicity and long-term stability, advice and support.
Sources: investmentnews.com; LIMRA, Facts About Life 2015