When Women Don’t Invest Their Families Suffer

Fact, 90% of women will be solely responsible for their finances at some point in their lives whether from being single, getting divorced, or because women live on average five years longer than men. So, it is important that women learn how to save, invest and manage their money.  As the head of their household women are also responsible for teaching their children how to save, manage and invest money.

A recent report from the Samuel DuBois Cook Center on Social Equity, shed another dim light on the current wealth inequality gap in America by highlighting the current state of black women’s net worth. Some sobering takeaways include:

• Single black women with a bachelor’s degree ages 20–39 have a net worth range of -$11,000 to $0.
• Single black women with a bachelor’s degree ages 40–59 have a net worth range of just $6,000 to $9,500.
• Single black women with a bachelor’s degree age 60+ have a net worth of just $11,000

The report shows that numbers for single black women are in stark contrast to that of single white women, especially those with a bachelor’s degree:

• Single white women with a bachelor’s degree ages 20–39 have a net worth range of $3,400 to $7,500.
• Single white women with a bachelor’s degree ages 40–49 have a net worth of $25,000.
• Single white women with a bachelor’s degree ages 50–59 have a net worth of $117,500.
• Single white women with a bachelor’s degree age 60+ have a net worth of $384,400.

My name is Marc E Davenport and my partner Grace L Holden and I created the Blue Print For The CEO Road To Success series to promote financial literacy for women.  Our Women and Investing series offers weekly one hour courses for only $25.00.  Register today and please encourage your children to join you so you can start building your financial legacy today.

Marc & Grace