Strange Facts about Women and Money.

Fact #1 Women live around 5-7 years longer than men on average and also tend to marry men older than themselves.

Fact #2 Many marriages today end in separation or divorce, often leaving women with a lower standard of living and a high economic burden (Statistics show that household income decreases on average 37% after a divorce).

Fact # 3 Almost half of women aged 65-74 are single. Of these, around 30% are widowed, 6% are divorced and 4% have never married.

Fact # 4 Nine out of ten women will be solely responsible for their financial affairs at some point in their lives.

Fact # 5 Women earn around 75% of the income of their male counterparts.

Fact # 6 At retirement, the average female aged 15 today will have saved only 75% as much as the average male.

Fact # 7 Women’s careers are interrupted by child rearing or caring for elderly parents. (It has been said that for every year a woman stays home to look after a child, she must work 5 extra years to recover lost income, retirement savings and career promotions.

Fact # 8 Only 43% of women are saving for retirement compared to 51% of men.

Fact # 9 Nearly 27% of women think that the Government should take the greatest responsibility for retirement saving compared to 17% of men.

Fact # 10 Women in New Zealand are more than twice as likely to live in poverty in old age as men.