To download a printable version of this transcript, click here.
iQuestions Faculty, Ron Blue
Question:
What are the financial facts regarding widowhood?
Answer:
One of the things that is startling to me and to all of the audiences
that I speak to, when I share these statistics, they are absolutely
amazed.
Here are the statistics:
80% of American women will face widowhood.
Now, that’s bad enough, but the average age of widowhood begins at
age 55. This was in the year 2000, the study that was done. So, on
the average, when a woman reaches age 55, she can expect to be
widowed. Now, obviously, that’s an average, but that means that there
are probably a lot of young widows, far more so than there are even
older widows.
And the life-expectancy of a widow is 18 years.
And, most significantly—the life-expectancy of women being 18
years—80% of women who end up in poverty were not in poverty prior
to widowhood.
So, widowhood is a dramatic and horrible thing for a woman, because
she now not only faces the loss of her spouse, but in most cases,
financially, she’s not prepared for it.
There are many ways to prepare for widowhood, and my counsel and
encouragement to men is to take into account the fact that your wife
is most likely going to be a widow.
Is she prepared financially? Is she prepared emotionally? Is she
prepared spiritually? Is she prepared in every way to experience
widowhood?
Because, in 80% of the cases, your wife will be a widow.
Blue -2-
To download a printable version of this transcript, click here.
Related Videos
What are the six steps of estate planning and wealth transfer?
Watch Ron Blue's Answer
What are the three most important questions to ask myself about estate planning and wealth transfer?
Watch Ron Blue's Answer
What should I know financially in regard to divorce, widowhood, or a second marriage?
Watch Ron Blue's Answer