Empowering Women – The Disadvantage of Traditional Financial Roles

Empowering Women – The Disadvantage of Traditional Financial Roles

Each week on The Crash Proof Retirement Radio Show, Joann Small hosts a special Empowering Women segment, in which she educates all listeners on the unique challenges women face when planning for retirement and the proven solutions available to them.

Joann Small documents why putting all the financial planning responsibilities in the hands of one spouse is a dangerous practice for any couple’s retirement future.

Report Transcription

Joann Small said,

“I’d like us all to listen to Dan Rocatto, who is a clinical professor of finance at the University of San Diego School of Business. He recently spoke about the importance of including women in the retirement planning conservation, and why he believes traditional financial roles in relationships are outdated in today’s economy.”

Dan Rocatto said,

“It’s kind of interesting that women have much less of a role in retirement planning for lots of different reasons. Yet women statistically will live much longer in retirement than their husbands or their partners. So it’s kind of ironic that the folks who need it the most, unfortunately, are participating the least. A lot of it is traditional roles, traditional customs. Women historically have earned less than men. They’ve interrupted their career more than men. So men have then taken on more of a dominant role when it comes to planning. It’s kind of outdated thinking and it’s sort of outmoded in many respects, but yet it still prevails in many relationships. 

We really do need to be on equal footing when it comes to planning for the future. Ladies, what I want you to do is make sure that you’re engaged with your husbands, your partners. Make sure that you understand exactly what today’s financial situation is like, and then move onto, well, how much will we need? When do we think we might retire? What specific steps and actions can we take now to get us there?” 

To hear Joann Small’s weekly Empowering Women segment visit https://crashproofretirement.com/radio-show/ and tune into The Crash Proof Retirement Radio Show, Saturdays at 11 AM and Sundays at 1 PM on Talk Radio 1210 WPHT.