August 23, 2006

Half of all women fear life as a bag lady

Nearly half of women fear life as a bag lady

    A "startling" 90 percent of women say they feel financially insecure, according to a survey of almost 1,925 women released yesterday by Allianz, a Minnesota-based life insurance company.

    Almost half are troubled by a "tremendous fear of becoming a bag lady" -- 46 percent of women overall, and 48 percent of those with an annual income of more than $100,000. An additional 57 percent are sorry they had not learned more about money matters in school.
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    "Money fears of women are complicated. They fear failure, or making mistakes. They fear they are expendable. Their fear of being poor, however, has topped the list for two decades," said Judith Briles, a Denver financial adviser and author of 23 books on money management.

    It seems an ingrained girl thing, though.
    "Bag lady syndrome is a fear many women share that their financial security could disappear in a heartbeat, leaving them homeless, penniless and destitute," MSN money columnist Jay McDonald wrote in January. "Lily Tomlin, Gloria Steinem, Shirley MacLaine and Katie Couric all admit to having a bag lady in their anxiety closet."
   

Posted by Jill Fallon at August 23, 2006 8:26 AM | TrackBack | Permalink