By Montreal Spencer/south news editor
Women need to spend more time thinking about their financial situation, the former director of the Fort Worth Women’s Business Center said Nov. 3 on South Campus.
Catherine Simpson gave financial tips to about 30 women during the Women in Control: Taking Charge in 2010 roundtable seminar.
The group discussed career choices women make and how the economy constantly changes. When Simpson asked how many women talk about retirement with their husbands, only four women raised their hands.
“If something happened to our husbands or wives, what would we do?” she asked.
Simpson stressed 10 and 20 years from now, women need to have a plan.
“We’re thinking about day care and enough money to keep the electricity on,” she said. “We’re not thinking about the future.”
A Prudential Insurance Company of America study revealed that only 70 percent of women in America have some kind of insurance plan. Simpson said that percentage should be higher.
Simpson said women need to find out if they’re in charge of their 401Ks.
“Be in control of your money. It’s your money. It’s not theirs,” she said.
Studies also show most women will outlive their husbands, so women need to think about what they will do financially. One out of every three women will be single at some point, Simpson said.
“We need financial service planners more than anyone else. Many are no cost,” she said. “Because men are leaving and dying, they [women] need them more than anything else.”
Simpson said only 15 percent of women in this area work with financial service planners, and her goal is to protect women. She also said it was important what job a person chooses.
“Don’t just look for a career. Look for what’s going to be hot the next 10 years and pays you your value,” she said. “It’s OK to love what you do, but you still have to pay the bills.”
South student Maria Carranza said the seminar gave her something to think about.
“It kind of made me think, ‘What do I want to do?’ She talked about the hot jobs, and everyone opened my eyes at different career paths you can take,” she said.
South student Janis Daubermann said the roundtable seminar was a worthwhile experience.
“It’s good to see other people trying to get a degree after being out of school for 20 years like me,” she said. “It’s very motivating.”
South student Suanja Yancy said she learned from the seminar.
“It was very enlightening. It challenged my thought process as far as my financial future,” she said. “If you’re not stable, it gives you means to be alert in terms as where you are and where you need to be.”
