Statistics Show: Women Should Be Investing
By Pauline Quinn, MSAPM, Registered Principal RJFS, and Katie Bruno, MIMFA, CERTIFIED FINANCIAL PLANNER™ Professional
About the Authors: Pauline Quinn and Katie Bruno are Financial Planners Serving Women Investors in Omaha, Nebraska, Since 1982
As women financial planners, we understand the investment needs of other women.
No matter where you are in the walk of life, as you seek answers about your financial future, the team at Morey & Quinn Wealth Partners can help you make thoughtful decisions. As events change in your life, we work with you to adjust your financial plan accordingly.
When it comes to planning and investing, the team at Morey & Quinn Wealth Partners believes that women should be educated and involved. We care about women’s financial futures and work to help them build financial confidence at every stage of life.
Statistics Show Why Women Should Be Investing for Their Futures
- Women are a big deal. Women make up 51% of the population in the United States. 40% of women are the primary breadwinners in their household. According to the U.S. Census Bureau, women will control approximately $22 trillion of wealth in the United States by 2020.
- We are smart. In 2016, the National Center for Education Statistics reported that women earned more than half of all postsecondary education degrees, 57.2% of bachelor’s degrees, 59.2% of master’s degrees and 52.7% of doctorate degrees. Men and women are equally financially literate in the U.S., but a report from the Center for Talent Innovation cited that 44% of women are less likely to consider themselves knowledgeable about their finances.
- We put our families first. Women are more likely than men to put our careers on hold to raise children or take care of aging parents, oftentimes leading to having fewer years of earned income or waiting to invest until later in life. We tend to view our investments in terms of emotions and experiences, and as a result, perceive risk differently than men.
- We live longer. Women on average live five years longer than men. According to the CDC, on average, men will live to age 76 and women to age 81.
- Yet, we are underpaid. An American woman earns 79 cents for every dollar a man makes. Minority groups earn even less, African American women earn 63 cents and Hispanic or Latino Women earn 54 cents to every dollar a man makes. Earning less money reduces retirement income that we count on, including Social Security benefits, pension and retirement accounts and savings to pay off major purchases. Income inequality combined with living longer may create a gap of funding for your retirement.
All of these factors make it even more important that women are knowledgeable and actively engaged in creating their own financial future. Women have tremendous responsibility when it comes to money, and the need to take it seriously.
(Source: Recent report from the American Association of University Women, a nonprofit that advocates for gender equality.)
The Team at Morey & Quinn Helps Women Overcome Financial Challenges
The team at Morey & Quinn Wealth Partners understands the challenges that women face. As female financial planners, Pauline Quinn and Katie Bruno help empower other women to realize their financial independence and plan for success. We listen to your needs and concerns with compassion and empathy. Together, we’ll create a wealth management plan focused around your current and future financial goals, and show you the value in a well planned life.
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Any opinions are those of Pauline Quinn and Katie Bruno, and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. Investing involves risk and you may incur a profit or loss regardless of strategy selected.
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