tend to work with a lot of women who find themselves single again after many years of marriage who often are unsure how to invest.
Some of these woman were not heavily involved in family finance. Now, because of the death of a spouse or divorce, they need to take on a role they never had to assume before, and this can cause a great deal of anxiety.
There is research showing that women feel fear or anxiety around financial matters more acutely than do men. This study and others point to the fact that women are typically the primary care givers in the family and thus have more issues or concerns on their minds. Having enough money for college, weddings and retirement is a major trigger for anxiety. These fears can be compounded when a woman deferred financial matters to her husband for 30 or 40 years and suddenly has to make these decisions herself.
A recent Forbes Magazine story pointed out a significant “Confidence Gap” when it comes to men and women and the topic of investing. According to this story:
The point is that many women by nature have a hesitancy to act on the unknown and a strong protective instinct that makes some women very cautious. But hesitating to act or failing to take control of your financial future because you are uncomfortable assessing the various options can sabotage your financial security or prevent you from earning the returns you deserve. Working with a professional that you trust who will both protect your assets and invest for optimal long-term outcomes is key to your future financial security.