However, they are finding a lack of information and financial products to help them manage their nest eggs. Women, more than men, often are vulnerable when it comes to finances. Too often, priorities other than financial education take up their time. There are several reasons why it is critical for women to become financial experts. Women are more likely than men to live alone due to the death of their spouses.
Women are more likely to become victims of financial fraud.
Women are cheated by telemarketing fraud and other Consumer scams because of their trusting attitudes, loneliness, and a desire to have assets pay as high a return as possible. Telemarketers prey on seniors' fears of outliving their money. Con artists know that women may have extensive assets, and that they can reach women in their homes. Women who get taken by one fraudulent offer are targeted over and over again. They may be afraid of telling anyone, including relatives, because they fear being declared incompetent and taken out of their homes.