Women: Opportunity to Catch Up
Faith Xenos, founding partner of Singer Xenos, a wealth advisory firm In Coral Gables, says this year presents an ideal opportunity for women to invest in equities and accumulate wealth tor retirement. “Women still fall woefully behind when it comes to financial and retirement planning,” she says. According to recent data, roughly 51% of American personal wealth, or $14 trillion, is now controlled by women. Yet men’s retirement account balances are more than 50% higher than women’s — despite women living on average, more than six to seven years longer than men. “I tell my clients that you can make all the money in the world, but you are never fully secure unless you are informed and active in your investments,” Xenos says.