My experience of talking with women about money is that they feel awkward and ashamed of their ignorance. They also feel nervous and uncertain about whether or not they can even understand “this stuff”. Talking about money is more private than talking about sex.
I must admit, the vocabulary can be quite intimidating: dividend, yield, equity, capital, preferred shares, price-to-earnings ratio…..Ever look at the Globe’s business section?
Why don’t women look after their own finances? Why do they still rely on their husbands (if they have one) to do it? How do you go about finding an investment broker? Once you’ve found one, how do you know if you’re getting enough out of the relationship? How do you develop a portfolio that is comfortable and doesn’t cause you anxiety?
The reality is that the majority of people living below the poverty line are women.
Try this on for size. It takes $1.25 million dollars in RRSP’s to retire with a $50,000.00/year salary. How do you ever save up that amount of money?
It’s not too late for us to take charge of our finances. And we do need to look after our own money. Period.