Did you know that women control 60 percent of the wealth in the United States?* Now, more than ever, women are taking charge of financial matters and becoming more adept at financial planning.

The women's movement
A government study recently reported that women have lower lifetime earnings than men for the following reasons: (1) Women generally earn less than men in the workplace; (2) Women are more likely to work part-time; and (3) Because women are often primary caregivers for children, they are absent from the workforce more than men.**

However, despite these statistics, recent trends over the last few decades indicate:

	Women are expected to own almost half of all small businesses.
	50 percent of all married women earn half or more of their household incomes.
	Women are occupying more top-level executive positions in leading companies.
	Nine out of 10 women will be solely responsible for managing their own household finances at some point during their lives.†
	Average life expectancy for women is 79.6 years, compared to 73.2 years for men.††

Whatever the reason, one thing is clear -- women are educating themselves and looking out for their financial future.

	Women today control 60 percent of the wealth in the United States. Whatever the reason, one thing is clear -- women are educating themselves and looking out for their financial future.

How women invest
Historically, women favored very safe, conservative investments -- low yielding investments like certificates of deposit and money market funds. However, the Investment Company Institute recently reported that 71 percent of female investors now put their money in stock funds, compared to 74 percent of their male counterparts. This study reflects a far more aggressive investing trend than in the past.

Financial fitness steps
Start now. The sooner you begin to invest, the better chance you have to reach your financial goals.

Know where you stand. All women need to have a clear understanding of their finances. Statistics indicate that the average age of widowhood in the United States is 56 and divorce affects around 50 percent of all married couples annually.††

Educate yourself about investing options. Keep all of your options open, including (if possible) contributing to an IRA and taking full advantage of your employer-sponsored retirement savings plan.

Keep track of your daily expenses. Record all of your expenses and your income so you can look back periodically and analyze your good and bad financial habits. Then, you will be able to see where some money spent may be better off invested instead.

Once you assess your current financial situation, you will be better equipped on the steps you need to take to achieve a sound financial future.

*Source: Advertising Age
**Source: National Economic Council Interagency Working Group on Social Security
†Source: U.S. Department of Labor
††Source: National Center for Health Statistics