Kim Kiyosaki in her book “Rich Woman” throws out some pretty sobering statistics when it comes to women and money:
· 47% of women over the age of 50 are single.
· 50% of marriages end in divorce.
· In the first year after divorcing, a woman’s standard of living drops an average of 73%.
· Of the elderly living in poverty, 3 out of 4 are women and 80% of them were not poor when their husbands were alive.
· Nearly 7 out of 10 women will live in poverty some time in their lives.
As a landlord, I can attest that this is real life and not just statistics. I have seen my older female tenants struggle alone to make ends meet. They are fearful about their expenses and they are depressed. I always took care of “my ladies” letting rent slide from time to time in order to avoid eviction. But most landlords don’t have this luxury. The mortgage must be paid so out they go.
You see a lot of things as a property manager. One 82-year-old widow that was my tenant took her own life because she was depressed over her circumstances. This is real life. All women need to take responsibility for their own financial welfare. If you won’t do it for yourself then do it for you children.
At MillionaireMoms.com we are dedicated to helping you understand and feel comfortable with managing and earning money. We promote entrepreneurship because of the flexibility it offers in your real full time job—raising your children.