I spent part of this Sunday afternoon watching UBS’s Paula Polito interview former supermodel Paulina Poriskova about the challenges Poriskova faced after her husband musician Ric Ocasek died. (Unbeknownst to Poriskova, Ocasek had written her out of his will, leaving Poriskova in a terrible financial situation.) The video series is a must-watch for any individual–but especially for women prone to being uninvolved with family financial matters.
An interesting generational tidbit: In this video, Polito says that 54% of Millennial women and 53% of Gen X women surveyed by UBS admitted to “deferring” to their spouses over financial matters as opposed to 39% of Boomer women. A disheartening situation, to say the least.
Would more and better financial education of females in secondary or post-secondary education help to curb this situation? Hard to say–but worth consideration.