"Women and Why They Don't Have Money"
Brook Steven ö author and financial consultant
Appeared on Nightly Business Report, PBS
March 31, 2000



Retirement is on everyone's mind today but the message hasn't gotten out to the major segment of the population, namely, women.

A survey released by the Heinz Family Foundation states that women are not on the fast track when it comes saving and investing. Among minority women the figures are less that 72%. That's the tragedy of this bull market.

Most women aren't in the investing game. As the Heinz study shows, 46% of all women expect to live at the poverty level at retirement.
Statistics show that 23% of all professional women are not married and never will be. And since 48% of marriages end in divorce, women usually have lower income and not enough child supportöretirement savings are the last things on their minds. Women who do get married, outlive their husbands by at least eight years, if not longer.

If you really want to make a difference in a women's life, whether she's eight or eighty, get her involved in a financial discussion. Show her how to make an investment decision. Explain how to set up a portfolio, pick stocks, buy the right insurance, etc.

Above all plan for retirement.

Studies show that when women are exposed to investing, they are better at and more committed to long-term planning. But first, they have to be given the guide book and the rules of investment.


Brook Steven - author and financial consultant
Appeared on Nightly Business Report, PBS
March 31, 2000