Forbes – Liz Frazier
“First, my disclaimer: It’s important that women and men understand their finance! All adults need to have a basic understanding of money management. However, on average men are still the ones to manage the family long-term financial planning, including: savings, investments, retirement, management and insurance. A UBS survey of high net worth married women, widows, and divorcees found that while 85% of the women said they managed day-to-day expenses, only 23% said they took the lead on long-term financial planning. These long-term components are the crucial areas that make sure we’re prepared for retirement, protected from disasters and are fully optimizing our money. Those who don’t manage (or co-manage) their finances with their spouse aren’t getting the valuable experience and knowledge to ensure they can be financially independent. The reason women are less involved ranged from a belief that their partner knew more about the topic, to discouragement from their spouse.” (more)