I recently met with a savvy businesswoman who is an expert, in wealth management for high net worth individuals. During our conversation we talked about women and their views of money. This businesswoman said “Women, regardless of their net worth, fear they are going to be “bag ladies”.  In fact the biggest fear voiced by most of The Business of Me participants is the fear they will be destitute and spend their later years broke and miserable.

This fear of money affects all women regardless of socio-economic status – and their fears are well founded.  As group women are more financially illiterate than men. Dartmouth College's Professor Annamaria Lusardi's study titled “Planning and Financial Literacy: How Do Women Fare?” found that “women display very little financial literacy. Financial illiteracy is widespread among older Americans and women in particular”. Her research further found that “financial literacy is so limited among women as to raise concerns about their ability to make sound savings and investment decisions”. This is not a pretty picture for women.

In her book “Money, A Memoir” Liz Perle cites some scary statistics about women and finances:

·Women still earn only 78% of what men earn for the same jobs.

·Only a third of women have positions that even offer retirements plans.

· Because about half of all working women take time off at some point to care for their families, the value of their retirement funds is lowered even further by these interruptions.

·Between one-third and two-thirds of women now thirty-five to fifty-five years old will be impoverished by age seventy.

It's no wonder that women are so scared. Regardless of your age or socio-economic status you can learn what you need to know and not live in fear by signing up for the online version of “The Business of Me”.

I am happy to announce that “The Business of Me” program – the program that has worked with many women to achieve life sufficiency and financial literacy skills, will be online soon. Stay tuned for details of how you can join me and a community of like minded women who have said “no” to fear and “yes” to prosperity.