Women, Money & Prosperity – Book Review
Happy National Book Lovers Day! Oh how I love any book that teaches women how to create prosperity for their retirement years.
I just finished reading Women, Money & Prosperity, written by Donna M. Phelan, MBA. I found it to be both motivating and informative for women who want to master their finances so they can save for a secure retirement.
The ugly truth is that the financial services industry has not adequately served women, which has had a negative impact on their financial outlook.
Only recently have financial institutions begun to take notice of the huge potential of the economic power of women. Yet, the numbers still tell a somber story about women as they face retirement:
According to the Allianz Reclaiming the Future Study…..
- 32.3% of women feel financially unprepared for retirement
- 30.8% of women are uncertain that their income will last throughout their lifetime
- 32.7% of women are concerned about possibly outliving their sources of income
- 53% of women stated that protection and security for their assets has become more important
(The above statistics are taken from The Allianz Reclaiming the Future Study, Allianz 2010)
Here are the three points I liked about the Women, Money & Prosperity book….
- Learn about investments. For the newbie saver/investor, Ms. Phelan does a nice job of providing a survey of investments. I do wish she had added more safe money options, such as equity-indexed annuities, permanent life insurance contracts and Long Term Care hybrid products. She stressed the importance of choosing wisely by doing extensive research before you invest.
- Increase Financial Literacy. The author encourages her readers to make your financial literacy a top priority. I wholeheartedly agree, and this is an idea I’m always promoting in my blogs. Ladies, your financial savviness is your responsibility, and it starts with making a decision to take a stand for your financial dignity. Read up. Take classes. Stay informed. Your well-being and your dignity in retirement depend on it.
- Start your own business. I have always felt that women who own their own businesses have the greatest potential to create financial success. I’m not saying it’s the only way. I know plenty of women who work for someone else who have created financial success for themselves. Yet, I suggest that you consider the idea of starting your own business, so you can keep earning income into your retirement years. Then at some point, you’ll have a saleable asset, or perhaps even passive income, which can contribute greatly to your retirement income.
I highly recommend this book to women who are eager to take a stand for their future financial security.
Read it and you’ll be super motivated to get started.
You can find it on Amazon: Women Money & Prosperity book
Hello, I’m Patti! I’m a Certified Holistic Health Coach, Christian Life Coach, Ramsey Solutions Master Financial Coach, author, and former retirement planner. I’m also an award-winning author and prayer warrior, serving on the prayer team at my local church.
My mission is to provide inspiration, coaching, tools, and resources to help you create a life you love by sharing what I’ve learned from overcoming my health and wellness challenges. I want to inspire you to claim all the goodness God has for you, so you can live your most beautiful life – spirit, soul, and body.
