Reinventing Retirement - Women Underserved in Financial Planning

Decades of steady gains in education and clout in the workplace by women are paying off for them in a big way:b Women are on track to control 60 percent of wealth in the United States by 2010.Yet, amazingly, these strides haven't made women feel financially secure. Indeed, roughly half of all women worry about becoming a "bag lady" according to a new study by Allianz Life Insurance Company of North America unveiled this week.

Financial Insecurity

The study, called "Women, Money, and Power," is a wake-up call for the financial services industry, which has far to go in meeting the immediate financial and long-term retirement planning needs of female decision makers. The study of 3,183 U.S. adults (1,925 women and 1,258 men) revealed the following: