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Women & Money

Women & Money. Annie’s Project October 5, 2006 Rusk County. Money Management. Obtaining. Protecting. Using. Why is it different for Women?. Women earn less than men Women are less prepared for retirement Women live longer than men Women are more conservative investors

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Women & Money

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  1. Women & Money Annie’s Project October 5, 2006 Rusk County

  2. Money Management Obtaining Protecting Using

  3. Why is it different for Women? • Women earn less than men • Women are less prepared for retirement • Women live longer than men • Women are more conservative investors • Women are more financially intimidated Source: Journal of Financial Planning, Sept. 2000.

  4. Women Cents Study, 1995, 1100 women • How a woman feels about $, more than anything, dictates success • Individual personality plays a critical role • Adventurous spirit • Fear of the unknown

  5. Attitudes of Wise Planners • 88% profess to be open to new investment opportunities • 80% characterize themselves as optimistic • 58% believe they have enough control over the direction of their lives

  6. Thoughts on Risk • Risk-taking is a tolerance of uncertainty • Women are raised for responsibility, not risk. • Risk tolerance – Personality! • $ amount for investing

  7. Why Women Are Prepared to succeed • more analytical & willing to say no • use “networks” • Ask questions • Juggle multiple roles • Willing to track spending • Identify and articulate Goals

  8. Women’s Role in Ag • New Census of Agriculture statistics notes that ¼ of all farm operators in U.S are women (2002) • That is 13.4% increase over 1997 • WI Data: • principal operator: 7,353 • More than 1 operator: 33,109

  9. Women’s Role in Ag • Farm woman’s worth? = $27,500 • 68 hrs/wk of unpaid domestic labor • 22 hrs/wk farm chores • 5 hrs/wk of volunteer work • Women w/ off-farm work • averaged 30 hours contributed to farm/household • Health insurance benefits • Same study says men are worth $23,700 (1994 Wayne State University study)

  10. WI farm women’s roles? • Farm bookkeeping and bill paying • Farm errands and vegetable gardening • More likely to work with livestock than do field work • Tasks requiring manual labor rather than those with machinery. • 63% contributed 40 or more hours of on- farm work per week. The Roles of Women on Wisconsin Dairy Farms at the Turn of the 21st Century No. 16, November, 2001

  11. Heart of the Farm Participants

  12. Your Relationship with Money • Money Coat of Arms Exercise • Emotional Uses of Money Exercise • How Organized are you? Exercise

  13. Getting Organized • Do you know where your…… • Property deeds • Insurance papers • Health • Home/Farm • Life • Vehicle • Loan Papers • Wills, trust ………………..Are?

  14. Your Assignment • Organize Your Loans • Farm Business • Personal • Organize Your insurances • Life • Crop • Disability • Health • Farm/Home • Auto

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