Wednesday, August 29, 2012

36) Let’s Chat

Y1 is NYC Time Warner Cable's 24-hour news channel 1.  In a recent debate between five Manhattan candidates for Congress, including the 42-year incumbent, Charles Rangel, the female candidate asked a question of another candidate about women.  It brought up the fact that women are still paid $0.75 for every $1 earned by a man.

          It's 2012?!

          What is this?!  Why?!

          Consider the following:
    • Women now make up:
      • 51% of the population
      • 2/3 of the workforce
      • 60% of college students
      • Growing ranks of legal, medical & accounting professions, and then some
    • Women control $14 trillion of personal wealth 
    • Women are more interested in achieving goals, than becoming rich 
    • 77% feel more knowledgeable than five years ago 
    • 72% maintain a private checking account inaccessible by the man in her life 
    • Women are not credited with managing household investments, and bill-paying 
    • 26% become interested in investing due to a life event such as childbirth, divorce, or death of a spouse 
    • 28% support an adult child 
    •  27% financially support parents 
    • 81% think that they’ll live to be 80 or more 
    • 37% think they’ll spend part of their retirement in a nursing home 
    • 54% of married women consider health a financial risk 
    • 36% consider death of a spouse to be a major risk 
    • 38% employ a financial advisor (54% for affluent women) 
    • Women are eager to find an adviser but are unhappy with the services, and products offered 
    • 50%+ feel patronized by financial advisors, especially as compared to male clients 
    • Women want a variety of services from their adviser 
    • Women are loyal, and make referrals     
                Who’s addressing your needs?!

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