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FACT ONE:
MOST OF THE FINANCIAL HARDSHIP EXPERIENCED BY WOMEN IN LATER LIFE IS DUE TO
SOMEONE REFUSING TO FACE FACTS EARLY ON.
These days there is no need for any woman to spend the second half of her life with a
lower standard of living. Yet many still do. This is because they continually defer the
decision to do something about preparing for their financial future until it is too late.
In some instances it is because a woman doesn't know exactly what financial provision has
been made for her, or feels awkward asking. Or maybe she doesn't marry, in which case she
MUST provide for herself, but fails to do so. When you are young, healthy and enjoying
life, it seems unnecessary to be thinking of putting something aside and there is always
something else to spend the money on. With good luck of course you may never need to
bother. But trusting in luck is no way to provide for your future. How often has luck let
you down in the past?
Life, as ‘they’ say, is what happens to you while you are making plans to do
something else. So it is better to make provision for the unexpected, because the older
you get, the more the unexpected happens.
FACT TWO:
WOMEN NEED TO PREPARE FOR FINANCIAL INDEPENDENCE JUST AS MUCH AS MEN DO.
These days one does not hear so much about the "family breadwinner," largely
because so many women either provide for themselves or make a substantial contribution to
the FAMILY INCOME.
But what happens if your husband dies and his income dies with him? Suddenly you are
prevented from working.
All to often the result is a dramatic fall in the family's standard of living and in their
quality of life. And this happens just at the time creature comforts are most needed to
soften the blow. No amount of money can bring back a loved one, but quite small amounts
set aside regularly can make the difference between sadness and absolute despair for you
and your children.
The only way to be sure you can cope is to do something about it yourself-- to make sure
you are adequately provided for.
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