Traditionally men have looked after a family’s saving and investment decisions. But in recent times, this has changed with women becoming more financially savvy. And the is great news for household finances. There is a good reason why women should control a households savings and investment accounts; they live longer and provide better returns.
Women Live Longer Than Men
Studies have been conclusive in showing that women on average live longer than men. And because of this, the majority of assets in retirement accounts are going to be controlled by women who outlive their husbands..
The trouble currently is many women who are approaching or currently in retirement have no clue about their investment accounts as the husband have always controlled it. But how many times have you heard stories where the husband dies and the wife is left with the job of looking after the finances with no idea why certain investment decisions were made. The wife in most cases will not know where to start as she has not had to deal with this stuff before.
This could all be avoided by women taking control of investment decisions. As women will be controlling the bulk of money and and will be the ones making financial decisions in the years to come, they should take control of investment decisions today.
Woman Make Better Investors Than Men
I’ve read a few articles which conclude that women are on average better investors than men. And the reasons as to why makes logical sense.
On average women are much more passive when it comes to investing. They avoid over trading and only invest in things they know. This leads them to getting better returns.
There you have it. 2 solid reasons why women should take control of a households finances.