Boomer women have the tendency to be independent by nature, but in many relationships between people in that generation, the men still found themselves responsible for the financial management. This can result in a number of mistakes by boomer women when it comes to managing their finances that need to be overcome to secure their future in retirement:

1. Some boomer women expect they’ll receive an inheritance – women who are fortunate enough to still have parents alive, might expect that at the time of their passing, they will receive a large enough inheritance to carry them through retirement. There are no guarantees if boomers will receive an inheritance at all, and if they do, they may not know if it will be enough to finance their senior years

2. Reliance on a spouse – many women allow their spouse to control all aspects of finances and also assume that their loved one is effectively planning for their retirement. Both partners should be involved in financial management, or at least have an awareness

3. No planning for women on their own – boomer women might assume that their spouse will be with them forever. But death or divorce can change this, and women need to make sure they have their financial ducks in a row so they can survive on their own

4. Expecting a man to save the day – some women on their own have the “prince charming” attitude and are waiting for a man to sweep them off their feet and fill up their bank account

Via: Let Life In

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