Women should invest for their future security

| 28 Sep 2011 | 03:03

    MILFORD - Joseph P. Biondo, Chief Operating Officer and Senior Portfolio Manager of Milford’s Biondo Investment Advisors spoke to 72 participants at a recent Pike Chamber, “Women in Business” workshop. Biondo delivered several messages to the gathering. “The world of investing does concern you, as women,” he urged. When it comes to investing, women face certain realities that men do not. Biondo presented statistics to support this claim, including the fact that the average woman’s life expectancy is 85 years and increasing, while the average man’s is just under 80. In addition, women still face earning power inequities. Women typically earn 80 percent of what a man earns in the same job. Biondo pointed out that women must prepare financially for a longer life. “Women need a higher percentage of savings, better investment results, or both. If you don’t, you’ll need to work longer or live on less income during retirement,” he cautioned. Biondo went on to dispel several “myths”. The first, that “someone will take care of you,” is not supported by the evidence. “Twenty percent of women never marry; 40 percent of marriages end in divorce; and 50 percent of women will outlive their spouses. The result is that 90 percent of women will be individually responsible for their own financial security.” Participant Ellie Wolfe, owner of Ellie•gant Cakes, Shohola, PA, agrees. Her father started her on the investment path years ago while she was in her teens. “It’s really important to begin and to be consistent,” she points out. “Women need to set aside a regular amount of money and invest it or we’ll be working into our 90’s.” Biondo encouraged attendees to interview at least three potential investment advisors and to choose the one that asks appropriate questions and understands your individual needs. Biondo Investment Advisors, LLC , a SEC Registered Investment Advisor. To find out more about “The Biondo Advantage,” call 877-BIONDOS (877-246-6367) or visit www.thebiondogroup.com.