I Don’t Want to be a Widow

I attended a seminar this week and the speaker delivered an interesting address that was focused on women and the absence of financial planning geared to their specifics needs. I listened intently as she highlighted some of the deficient areas and how different the female population focuses on completely different criteria than their male counterparts. She highlighted that the three areas of major concern were debt, the education of their children and the need for protection in the event of a health crisis.

The whole financial planning piece combats many of these fears by allowing the participants to see benefits to them and their loved ones. The male counterparts conversely want to know about today. Kind of like, what have you done for me lately. It isn’t that either view is better, as both are correct for each group. Combined, the complementary approach will ensure safety for many families for years to come. 

The kicker, which she saved to the end, absolutely floored me. The average age of a widow in Canada is 56 years old. I could not believe it. I then reflected and realized that my own mother was 49 when she lost my dad. No amount of preparation can ready you for that kind of experience but the presence of a proper plan can help to absorb the shock and pain that does not need a catalyst like financial uncertainty to complicate matters. It is the least we can do for ourselves. None of us know who will be the next statistic. None of us want to be a widow.