Statistics for Independent Women
By Mary Grace Musuneggi
www.singlestepsstrategies.com
A woman should not depend on the protection of a man…she should be taught to protect herself
…Susan B. Anthony
The whole purpose of statistics is to provide us with information about what the average person can
expect. What is happening in the world to the average man or woman? What are most people doing?
Statistics become important to us when they become personal. When they have something to do with
things that we care about.
Statistics can also tell us what our expecta tions should be. What might happen to us because it has
happened to others?
These become important when we see ourselves as part of the group that makes up the statistics.
So if there was a statistic that said that the majority of women over the age of 55
can expect to be homeless within the next 5 years; and you were a woman and you were over the age of 55, you would
probably want to know if that statistic is true. Why would someone believe that? What do you need
to do to prevent this?
But what if a statistic said that the majority of men who work as coal miners and are under the age of
25 can expect to be homeless within the next 5 years? If you are that same woman you probably
won’t find this statistic of any real value to you unless you have a son who is 24 and he is a coal
miner. Otherwise you won’t much care if the statistic is true or not.
Statistic: The average age of widowhood is 55 (U.S. Census Bureau)
I first found this statistic in 2002. Since then I have seen various other studies that say
the age is 56, or 57. But the fact is it comes as a surprise to most women that they may be widowed at such an
early age, especially with the increase in life expectancies.
Now if you are 70 and have been married to the same man for 45 years this statistic means nothing.
But when at the age of 25 I went from being a wife to being a widow; from being a stay at home
mom married to an officer in the Marine Corps, to being an unemployed single parent of a newborn;
and from living in officer’s housing to being homeless, this statistic became a reality for me. Some
men die at 80. Some die at 25. The average age of widowhood is 55. I was a statistic.
Statistic: After the death of a spouse the average man remarries within 3 years, the average woman
remarries within 5 (About.com 2011 citing a US Census Bureau Report)
Many men remarry for companionship. But women remarry for security and often for financial
reasons. The financial reasons are often because some studies say that the average woman will go
through her husband’s entire estate within 5 years. And the Women’s Institute for Financial
Education says that 1 in 4 women will be broke within 3 months of their husband’s death.
That may be for one of two reasons. There was not much in the estate to go through, he did not leave
her anything; or she did not know how to handle what she got. In any case, the idea of being part of
this statistic should bring fear into the hearts of most women. And the older we become the harder it
would be to rebound from this.
Statistic: 45% to 50% of first marriages end in divorce.
60% to 70% of second marriages end in divorce.
And three times is not a charm as 70% to 73% of third marriages end in divorce.
(The American for Divorce Reform)
Statistic: 90% of all women will spend some of their adult life on their own (National Center for
Women and Retirement Research)
But are we ready to live independently? With statistics like these, it amazes me that today there are
still women who leave their financial fate in the hands of another human being.
Before you become a statistic, you need to consider the following to keep your independence.
1. Keep control of your own financial planning
2. Learn all you can about investing.
3. Build a strong relationship with your attorney, your accountant a
nd financial advisor.
4. If you are married, have your own stash of cash; review your spouse’s retirement planning
and beneficiary arrangements.
5. Do a budget to understand what income sources you would need if you find yourself on your
own; or if you are alre
ady on your own
6. Discuss with your spouse what plans he has made so that you will be provided for.
7. Keep your resume updated.
8. Understand your tax return in detail before you sign it.
9. Confirm that your Estate Planning documents are up to date.
10. Be sure that those things you think are your “joint’ assets are truly joint.
Mary Grace Musuneggi
Founder and Executive Director
August 2012
© Mary Grace Musuneggi 2012
