Surprising statistics about women and personal wealth - women own 51% of it in the United States. And and as the transfer of wealth continues, that number is going to climb even higher. But if women hold the purse strings— does that mean they’re prepared to make necessary financial decisions? Financial teacher and planner Rob West discusses that with Women Doing Well co-founder Sharon Epps. Sharon not only helped launch Women Doing Well— an organization that inspires Christian women to use their time, talent and treasure to further God’s Kingdom, she’s also the chief operating officer of Kingdom Advisors. Women Doing Well was founded by four friends who realized that the world was saying a lot about women and money not from a Christian perspective. The foundation embarked on what ended becoming a year-long journey of listening to over 7000 Christian women leading us right into surprising numbers like this:
Those numbers are astonishing— especially when we tend to hear so much about the financial difficulties of single moms but it’s important to realize that married women in stable relationships with resources have issues, too because they are the ones that tend to ignore finances because they think others in their lives can be the ones to think about it. Such women need to be prepared because:
So women are taking on vastly more financial decision-making today than previous generations— are they ready for it? As a group, certainly. Consider these points:
That doesn't mean every woman is prepared. Some will come into wealth perhaps without having managed the family finances or making major decisions and may need to get prepared for those financial responsibilities in these ways:
Next, Rob and Steve tackle listener questions at 800-525-7000 and via email to Questions@MoneyWiseLive.org on a variety of topics:
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