Recently I did a survey of women born between 1946 and 1963. This generation is often called the “baby boomers” who were born not long after the end of World War II. A lot has been written about them and how they differ from earlier generations. I was curious to test a sample of these women and find out how life is for them now and what wisdom can they pass on to the next generation of women.
It seems to be true that they are a group who love their independence and are mostly financially secure. The majority of the women I surveyed said their work was very important to them – for interest, social networks and the income.
I will post more information on a new page shortly on my blog under SURVEY if you would like to read more of the detail. The information was provided in confidence and so no names or identifiers are attached.
The thing that stood out to me the most was the overwhelming number of women who had advice about finance. Not only about what they did, but also about what they WISHED they had done. It got me to thinking that even today the world of finance is still mostly a male domain. This has a lot to do with many women not staying in the workplace long-term because of the decision to have children. It is often the case that they cannot catch up to the male colleagues once they have time out for having children. I know it is changing to some degree with parental leave becoming more common in some industries.
I do wonder how we to encourage young women today to be more proactive about their finances. My next task (in this assignment) is to have a look at what is available to assist women’s financial literacy.
I know there are many young women who are incredibly capable of using good financial management practices, savings, investment properties and the stock market.
In my personal experience, poverty is a very strong motivating factor – especially if you have others who are dependent on you!
Some of the women in my questionnaire cannot start afresh. They have kindly assisted me with my questionnaire and provided lots of good advice for younger women on a range of life matters.
Many thanks if you were one of my participants 🙂
cheers for now
- How Baby Boomers are Picking a Retirement Age (money.usnews.com)
- IAG to double new mothers’ salaries (abc.net.au)
- Women ‘stress more about finances’ (moneyexpert.com)
- The cost of parenthood (nzherald.co.nz)
- Transitioning into Retirement: The MetLife Study of Baby Boomers at 65 ” Full Text Reports… (jobmarketmonitor.com)
- Baby-Boomers are the most selfish generation in history | Mail Online (tribuneofthepeople.wordpress.com)
- Why Baby Boomers Will Have a Troubled Retirement (singularity2050.com)