Enthusiasm was expressed for maximizing resources and expertise by collaborating to improve current financial education programs as well as to originate new curriculum design and multi-state program delivery. It was agreed to formalize a commitment to work together through the formation of a Southern New England Family Economics Consortium. Due to program initiative changes by AARP, the WFIP will conclude in December 2000. Members of the group agreed that financial education and empowerment of females of all ages is still a critical issue. Women have lower lifetime earnings, lower earnings growth, lower wealth, and lower pension coverage and participation rates.
Studies indicate that women s conservative investment strategies result in less retirement income.
In addition, women s greater longevity must support a longer period of retirement. Women need information about how to manage their money, accumulate adequate savings to meet long-term goals, maximize their investment returns, and develop retirement and estate plans. For these reasons, it is imperative that financial education programs are available to help women of all ages manage, save and invest their money. The lack of financial management experience and knowledge is found in all income and age groups, and at all educational levels. Combining the target groups of adolescents and young women with mid-life and older women into an intergenerational audience offers an opportunity for younger and older participants to share experiences, reinforce the lessons as they discuss new information, and encourage each other as they learn new money management skills.