3) Women worry more about their financial health but lag in decision-making and self-confidence. An LPL Financial “WomenInvest White Paper” survey shows that 67% women want an equal role in financial decision making and only approximately 20% want their husbands to make all the decisions. Only 29% of women are confident their investments are “allocated appropriately between cash, bonds and stocks.” By comparison, 45% of men are confident in this area.
4) Women may expect different things from advisors than men. Financial “peace of mind” is seven times more important to women than wealth accumulation.
Though some of the previously mentioned sentiments may ring some sort of truth, there are several others who are seeking to debunk these “myths” about women and money.
It is safe to say that regardless of past assumptions, myths and findings about the relationship between women and money, as professional women with increasing pay and offered benefits, it is imperative to remain 100 percent aware and in full control of our financial futures, which may call for a reassessment of antiquated thinking and fears.
Rashida Maples, Esq. is Founder and Managing Partner of J. Maples & Associates (www.jmaplesandassociates.com). She has practiced Entertainment, Real Estate and Small Business Law for 9 years, handling both transactional and litigation matters. Her clients include R&B Artists Bilal and Olivia, NFL Superstar Ray Lewis, Fashion Powerhouse Harlem’s Fashion Row and Hirschfeld Properties, LLC.
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