Here’s something you probably didn’t know: women own 51% of all personal wealth in the United States. And as the transfer of wealth continues, that number is going to grow even higher. But if women hold the purse strings, does that mean they’re prepared to make necessary financial decisions? On this edition of MoneyWise, Rob West and Steve Moore discuss that with Women Doing Well co-founder, Sharon Epps.
Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:
- Is it OK to cosign on a loan with your spouse?
- Are medical facilities allowed to access your credit score to determine your “propensity to pay?”
- If you're about to receive an inheritance of $80,000 and use $30,000 to pay off a car loan, should you put the rest of the money toward your mortgage or fixing up your house?
- If you have $50,000 in a green checking account with a good interest rate, should you leave the money there to earn interest or use the money to pay down your mortgage?
- If your brother co-owned a house with your mother, should that house be equally divided between you and he like the rest of the contents of the will?
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