PROBIZ International - Vol-1 Probiz File final | Page 34

ADVANTAGE WOMEN
What Women Want
W
omen in
business and
the professions
continue to change the
face of our economy.
Women are starting more
businesses than men
and are twice as likely to
remain in business than
their male counterparts.
Career women are
thriving and are making
a positive impact on the
economy. Women today
represent a large number
of university graduates,
and an even larger number
of new entrepreneurs,
and yet the greatest
challenge women now face
34
August 2018
is having less financial
security than in the
past. The biggest hurdle
women have to climb is
being able to reach old
age without depleted
resources or not having
enough money to live out
their lives.
Women statistically
live longer than men, yet
they continue to invest
less and most are not
adequately prepared
for retirement. At the
same time, women still
on average work fewer
years than men and make
less money than a man.
Women need to plan for
financial security and
prosperity. They must
have a proactive plan to
get there.
Let’s look at some
of the gender specific
statistics reflecting
the particular financial
considerations and
challenges facing women
today. As a case study,
figures from the US are
taken here to convey the
message:
• Most women
outlive most men by 7
years; however they
will be in the workforce
on average 11 years
less than their male
counterparts due to
child bearing and rearing
women will require 20%
more money than their
male counterparts in
order to compensate for
shorter work years and
longer life span.
• 90% of all women
will be single for a great
part of their adult
life due to divorce,
widowhood or never
marrying. Over one
third of marriages end
in divorce, while second
marriages have an even
worse rate of success.
• The average age of