Manage episode 293132493 series 2828666
Welcome to Season 2, Episode 9 of Meet the Expert® with Elliot Kallen!
In this episode, Elliot Kallen brings on Leslie Geller, Attorney at American Funds, to discuss how women can arm themselves with the knowledge and perspective they need to understand and take control of their financial lives.
Women and wealth: the statistics
Based on the data, all women should expect to be solely responsible for their financial well-being at some point in their lifetimes:
- On average, women are expected to live for 5 years longer than men
- About half of first marriages end in divorce
- The median age of widowhood is 59 years
- Women spend an average of 10+ years alone after the death of a spouse
- 69 percent of divorces are initiated by women
But married women are not preparing themselves for this event.
Although they often handle the day-to-day family finances, like paying bills and budgeting, the majority of married women defer to their spouses on matters of financial planning and investing.
Meet with Elliot Kallen: