We Believe We’ve Come A Long Way
But Have We Really?
Several articles have come out recently that suggest the majority of married women leave financial decisions to their spouses. Yes, there is still the old fashioned belief that their spouses know more about financial matters.
Remember when women needed a male to co-sign for credit?
That ended in 1974.
Remember when women didn’t have equal rights to marital property?
That ended in 1981
According to a recently published whitepaper from UBS Wealth Management USA, “Own Your Own Wealth“:
- 56% of married women leave investment and financial planning decisions to their husbands
- 8 out of 10 women are content with the current distribution of financial responsibilities
- 80% of women will end up alone due to divorce or widowhood
- 98% of divorcees and widows would advise other women to take active role in finances now
- Millennial women are more likely to leave investment decisions to their husbands (61%) than older generations (54%)
- More than half of divorcees and widows discover financial surprises, such as outdated wills and debts
Women are living longer.
‘Gray Divorces’ are on the rise. And more women will find themselves solely responsible for their finances.