Financial Literacy for Women
6/1/21

FAST FACTS

1) Women who reach the age of 65 are expected to live more than two years longer than men who reach 65.

2) More than 80 percent of older women taking part in a 2017 study couldn’t pass a retirement financial literacy quiz. Nearly twice as many of their male peers were able to pass.

3)Women are not expected to reach pay equality for the next 43 years.

4) An American College of Financial Services literacy study of men and women between 60 and 75 found:

Thirty-five percent of men passed a quiz on retirement income literacy

Eighteen percent of women passed the same test

Those who passed were more likely to have a retirement plan, as well as a plan to cover the costs of long-term care.

Source:

https://www.annuity.org/financial-literacy/women/

Other Resources:

• The Women’s Institute for Financial Education is a non-profit organization which began in 1988 and provides guidelines on cost of living, retirement planning, taxes, divorce and widowhood.

• Women’s Institute for a Secure Retirement (WISER), a nonprofit organization dedicated to increasing long-term financial welfare for women, with a focus on retirement security. The group developed the National Resource Center on Women and Retirement Planning, which has a collection of free resources for basic financial planning. Site visitors can take advantage of guidance regarding divorce planning, estate planning, home ownership and caregiving information.

• The Financial Literacy Organization for Women and Girls (FLOW) is a charitable organization dedicated to empowering females of all ages to achieve their financial best. It hosts conferences, seminars, workshops and boot camps to assist women in financial independence.