Friday, 20 April 2007

Attention all young women out there!

Hello.. Here are just some stats I found from someone's blog (who got them from msmoney.com) which I feel are very interesting. We might not be aware of all these, so it's good to read about it - and realise that women have a lot of work to do in terms of getting themselves ready for retirement.
  • Women live longer than men (an average of 7 years) so they need 20% more for retirement.
  • On average, women earn 25% less than men.
  • Since women tend to take time off to raise children or take care of parents (women take off approximately 11 years more from work than men), they save less than men do for retirement.
  • After earning lower salaries for fewer years, women's social security benefits are about half of men's.
  • The majority of women had certificates of deposit (CDs) in their retirement savings accounts when a more aggressive investment vehicle was more appropriate.

So whatever it is, all you young women out there, do something quick! No matter how taboo money matters are to you, you should at least make an effort to learn how to manage your finances.

We'll talk more about this later.

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