What Women Want
Women in business and the professions continue to change the face of the North American economy. Women are starting more businesses than men and are twice as likely to remain in business than their male counterparts. Career women are thriving and are making a positive impact on the economy. We now represent 55% of university graduates, and 58% of new entrepreneurs, and yet the greatest challenge women now face is having less financial security than in the past. The biggest hurdle women have to climb is being able to reach old aged without depleted resources or not having enough money to live out their lives.
Women statistically live longer than men, yet they continue to invest less and most are not adequately prepared for retirement. At the same time, women still on average work fewer years than men and make less money than a man. Women need to plan for financial security and prosperity. They must have a proactive plan to get there.
Let's look at some of the gender specific statistics reflecting the particular financial considerations and challenges facing women today:
The average woman has less insurance coverage than the average man does, although her economic requirements are on average greater than those of men.
Solid proactive financial planning for women must address women's gender specific realities and obstacles:
Most women will face greater financial challenges than their male counterparts. The good news is that women's attitudes about money and investing are starting to change to reflect these glaring economic realities. The even better news is that Canadian women are beginning to recognize that they must work with the financial planning issues that confront them, in order to secure a happy and prosperous future for themselves and their dependents.
Women are the masters of their own financial destiny. We can no longer depend on the government, our partner, child (children) to sail our economic ship into a secure and prosperous sunset. Women must achieve financial security and success by being aware of where we are financially, where we want to go and how we can get there.
The following financial test will provide greater clarity as to where your financial feet are planted. Remember that there are no wrong answers to this quiz, only proactive solutions to help you achieve security and prosperity. I welcome you to send me your quiz along with your questions and I will be pleased to meet with you at no cost, no obligation to review where you are now, where you want to be and how we can get you there.
A SELF-DIAGNOSTIC TEST TO DETERIMINE IF YOU ARE ON THE RIGHT FINANCIAL TRACK:
0 True 'Congratulations. You have a proactive financial plan for prosperity. 1-2 True 'Pay attention to the red flags you have circled. Your personal financial plan needs to be revisited. 3-5 True 'You do not have a financial plan in place and if you continue on this path expect to go down the road to financial trouble .6+ True 'You are in imminent danger of financial problems. Get help now! Fail to plan = plan to fail
© 2002 Irene Segal
Irene Segal is a certified coach who works successful value driven individuals and organizations all over North America to create brilliant solutions for meaningful work, life and sustainable success. Irene can be reached at email@example.com
Empowerment'. Irene Segal is a business and life coach who works with issues of change, business growth, leadership and self-empowerment. She was recently appointed as the Personal Development Expert for Enterprise Toronto, a branch of the Economic Development Office of the City of Toronto and is also an Ambassador for the Toronto Board of Trade. Irene's professional journey includes running a multi million dollar steel business, mentoring entrepreneurs, financial consulting and co-authoring a book about coaching, Exploring Coaching. She received her coaching certification from Coach Training Alliance, who described her as one of the stars in their program. Irene was one of 10 Canadian women chosen by the Federal Development Bank to set up the first mentorship program for women in the country- Step Up. She was also the first woman Rotarian in Canada.