Wise Women Money Quiz: How Money-Wise Are You? Awareness is the
first step in gaining financial freedom.
Test Your Knowledge
Do you know where you stand in terms of Money Smarts?
The following questions are based on Oppenheimer Funds research.
It only takes a minute to see how much you know about dealing
with money.
1. Sixty-percent of all women end up managing their own finances
at some point in their lives. T or F
2. Most women invest their portfolios in investments that are
too conservative. T or F
3. Most stock market investors get wiped out at least once in
their lifetime. T or F 4. Two thousand dollars is the minimum
amount needed to invest in a mutual fund. T or F 5. You need
about 75% of your pre-retirement income to live comfortable
during retirement. T or F 6. If a 45-year old woman plans to
retire at age 60, she can expect to live 21 years in retirement.
T or F 7. Between stocks, bonds and CD’s, over the last 30 years
bonds have appreciated the most out of any investment overall. T
or F 8. If a woman can afford to invest only $50 a month she
shouldn’t bother. T or F 9. A 65-year old woman with an annual
income of $50,000 can expect to have 50% of her income be
replaced by Social Security. T or F 10. A woman’s intuitive
ability to manage her emotions around money is one of the most
important aspects of Creating Wealth over the long term. T or F
Answers: 1. FALSE- 90% of all women end up managing their own
finances at some point because of increasing divorce rates,
becoming a widow and because they live longer. 2. TRUE- Most
women are too conservative in their investing. 3. FALSE-
Historically not true. There are periods of decline but over the
last 50 years, the market has shown overall long-term growth. 4.
FALSE- You can open a Mutual Fund automatic account builder
program for as little as $25 a month. 5. TRUE- According to
studies by the WEFA Group you need 70-80% of your pre-retirement
income when you retire. That means if you earn $45,000 when you
retire, you will need between $31,500 and $36,000 per year
during retirement. 6. TRUE- According to the National Center For
Health Statistics, a woman that is 45 who plans to retire at 60
can plan on living 21 years, to the age of 81. Because women
live so long, good retirement planning can make a very big
difference in how comfortably you live throughout your later
years. 7. FALSE. According to Ibbotson Associates, over the last
30 years stocks have been the top performing asset class. 8.
FALSE- a monthly investment of $50 growing at 8% a year would be
worth $9,147 in 10 years and $29,451 in 20 years. 9. False- She
can expect Social Security to replace 30% of her pre-retirement
income or $15,000 if she had been earning $50,000 a year. 10.
TRUE- You go girl! You KNOW it’s true!! Information for this
quiz was researched by Cynthia Fick, expert financial planner.
Research findings come from the Oppenheimer Women and Investing
Quiz, Ibbotson Associates, the National Center of Health
Statistics and a WEFA Group Study.
Here are your results:
8-10 Correct
Great job! You are a Money-Smart Woman. You have a solid
understanding of the issues that affect women’s financial lives.
Are you using those smarts to live the life of your dreams?
Consider meeting with a Financial Coach to complete a Review of
your goals and take a picture of where you are now financially.
Come to www.coachingfromspirit.com/rd.cfm?id=54 o receive a free
Sprecial Report, The Top Five Reasons Why Most Women Aren’t
Wealthy and How You Can Change That, from Cynthia Fick, expert
financial planner. This report divulges the concrete steps to
financial happiness. You can also register for a FREE 60-minute
Teleclass entitled, “Wise Women Are Rich: Three Secrets to
Creating Wealth.” Cynthia Fick and Founder of Coaching from
Spirit, Sharon Wilson will teach you simple strategies to create
more financial security and more prosperity. To register come to
htp://www.coachingfromspirit.com/rd.cfm?id=24
6-7 Correct
Pretty Good! You are a Financially-Striving Woman. You’ve
started to grasp how important it is for women to be in control
of their finances. However, you may not be saving enough to meet
your financial goals. Take this opportunity to make sure you are
saving enough for retirement and your other financial needs for
the future. Ask yourself, am I living the life of my dreams? If
not, think about what’s holding you back. Come to
www.coachingfromspirit.com/rd.cfm?id=54 to receive a free
Special Report, The Top Five Reasons Why Most Women Aren’t
Wealthy and How You Can Change That, from Cynthia Fick, expert
financial planner, outlining tips to reach your short and long
term goals. You can also register for a FREE 60-minute Teleclass
entitled, “Wise Women Are Rich: Three Secrets to Creating
Wealth.” Cynthia Fick and Founder of Coaching from Spirit,
Sharon Wilson will teach you simple strategies to create more
financial security and more prosperity. To register come to
htp://www.coachingfromspirit.com/rd.cfm?id=24
0-5 Correct
You are a Financially-Naieve Woman. You have a bit to learn
about your finances, but don’t despair! Many women are in your
situation. Just because you lack financial experience doesn’t
mean you lack an ability to create wealth. Look at your beliefs
about money and the stories your family had about money when you
were growing up to see if they empower you financially. You also
may want to ask yourself if you are clear on what you want in
your life financially. If you are not where you want to be
financially, why not? Come to
www.coachingfromspirit.com/rd.cfm?id=54 to receive a free
Special Report, The Top Five Reasons Why Most Women Aren’t
Wealthy and How You Can Change That, from Cynthia Fick, expert
financial planner. This free report lays out an easy to
understand process to develop financial security and prosperity.
You can also register for a FREE 60-minute Teleclass entitled,
“Wise Women Are Rich: Three Secrets to Creating Wealth.” Cynthia
Fick and Founder of Coaching from Spirit, Sharon Wilson will
teach you simple strategies to create more financial security
and more prosperity. To register come to
htp://www.coachingfromspirit.com/rd.cfm?id=24
Remember: Financial security is different from financial
happiness. Every woman can have both. Make an effort to learn
more about financial planning and, with the help of a financial
advisor or financial coach, go over your portfolio to ensure
that you’re investing to help meet your short- and long-term
goals. If you are motivated to take control of your financial
future, come to www.coachingfromspirit.com/rd.cfm?id=54 to
receive a free Special Report, The Top Five Reasons Why Most
Women Aren’t Wealthy and How You Can Change That, from Cynthia
Fick, expert financial planner. You can also register for a FREE
60-minute Teleclass entitled, “Wise Women Are Rich: Three
Secrets to Creating Wealth.” Cynthia Fick and Founder of
Coaching from Spirit, Sharon Wilson will teach you simple
strategies to create more financial security and more
prosperity. To register come to
htp://www.coachingfromspirit.com/rd.cfm?id=24