Women & Finance

Women are falling into poverty – it’s a male and female issue!

At Shard Financial we are committed to educating women on the dangers of falling into poverty and active in helping our clients learn about their finances and get a handle on their money. Here are the statistics that you should know about:

  • According to the Women’s National Law Center report, women are falling into poverty at alarming rates – 14.5 percent of women (17.2 million women) now live in poverty — the highest rate in 17 years, and much higher than the 11.2 percent of men living in poverty.1
  • According to the Allianz Women, Money and Power study, 90% of women will be in control of their finances at some point of their lives, yet 90% feel intimidated by finances.2.
  • According to the Administration on Aging, over 50% of all women currently living in poverty were NOT in poverty while their husbands were alive.3

These facts, along with the different tragedies we have seen women experience, lead us to believe that this is a preventable tragedy for many, as well as both a male and female issue.

If you are a man, you probably have a mother, wife or daughter who you want to protect. If you are a female, then you probably don’t want to fall below the poverty line. And we all know that poverty for our overall economy is not a good thing.

This issue is one that affects women across all income and net worth brackets. We have experienced women who used to have six figure incomes and million dollar plus net worth’s come to us after a tragedy only to find out that they now have to change their lifestyles forever. And it was all preventable.

Think it can’t happen to you? Think again! Prevention is possible for many. Are you ready to get a handle on your finances? Call our office and schedule a free financial consultation.

1Women’s National Law Center
2Women and Affluence 2010, Women & Co. and The Allianz Women, Money, and Power Study, 2006.
3Administration on Aging