Historically, women have been the custodians of the household purse strings, making or influencing most household purchases from groceries, appliances, clothes and even the family home.
Why then should women take a backseat to men in investment decisions, when they have been in the drivers seat in regards to most of the household financial decisions?
It’s time for women to step up to the plate and take control of their own financial future.
Now and Then
“Women buy or influence the purchase of 80% of all consumer goods. That includes 51% of consumer electronic and 75% of over-the-counter drugs. Women also influence 80% of all healthcare decisions. Women actually buy 50% of all cars and influence 80% of their sales.
Women buy 50% of all PCS. And in perhaps the most powerful symbol of economic clout-stock ownership-consider that 40% of market investors are women. Did you realize that 40% of households with assets over $600,000 are headed by women? Female-owned and female-run businesses generate $3.6 Trillion annually and employ 27.5 million people-more than all the Fortune500 companies combined, in America,” according to Faith Popcorn, best-selling Author of The Popcorn Report. This is a lot of purchasing clout.
Two generations ago, women were reared to be housewives, tending to their husband’s and families needs. Activities outside the home were in the form of volunteer work and social functions. The husbands handled the household finances, investing, if any, and many men even handled the shopping and other, outside of the home duties.
A generation ago, most women were still raised to be housewives and mothers, and only a few began to take on work outside of the home, usually part-time jobs to supplement the household income.
It has only been in the last 25 years or so, that women have actually ventured out into the world, and even when married with children, have pursued a career.
Today, women do it all. Today 60% of American college students are women. Women have become a major part of the workforce. They pursue a career, marry and start a family much later than their mothers and grandmothers did. Over the years women have taken a backseat when it came to involvement in the financial arena. From banking, bonds, equity investments and mutual funds, women have relinquished control to others. This is not so anymore.
Women have arrived. Women control approximately 40% of the asset wealth in the United States, alone. Women have started taking control of their own financial futures. No longer is today’s woman passing on the responsibility of making financial decisions to others. Today’s woman makes her own decisions.
Today’s woman is worldlier, more educated, more confident, and more sophisticated. With the advancements in the Electronics World alone, such as cell phones and computers, the speed and volume at which information travels from one point to another, is almost instantaneously. At no other time in history has financial information, spread so far and so fast.
Today’s woman has the advantage of accessing this information, and using it to her advantage. This knowledge she has acquired has enabled her to diversify asset allocation. She has the opportunity to be responsible for her own Financial Future.
Today, now, is the time for women to make their move and take action. It is time to throw themselves into the decision making process in Washington that has so long been controlled by men. It is time for new blood to be introduced into what has become old and stale thinking. It is time for change, but change that will bring peace and prosperity to America. It’s time for women to take control of the reins of Power in Washington that they have earned thru education and hard work.
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