The answer is yes. Chris Caldwell more Caldwell columns Part of the reason more attention is directed toward the female gender takes us back to the days when women traditionally raised children while men handled all the financial responsibilities. Times have changed, and women now have as much interest in the financial aspects of daily living as men. Studies even show that nine out of 10 women will be solely responsible for their finances at some point in their lives. Due to the change in society, financial firms realize that women might need some additional assistance in finances and investments.
Women live longer than men.
On average, a woman will outlive a man by almost seven years. This means that women need to design a plan that will compensate for a longer life span, and they might also need to be aware of their spouses' financial affairs since they will more than likely be placed in control of their husbands' matters. Women spend fewer years in the work force. Studies show that half of all women take time off to raise children. The average is about 11.5 years.