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.
Women tend to be conservative when making investment decisions.
They tend to stick to savings accounts and certificates of deposits, which lose buying power due to inflation. To better manage money during retirement, both women and men need to understand some basic financial management principles. Set new financial goals. Some people nearing retirement fear that they will run out of money. They worry that they will have to give up fun and challenging activities.