Merrill Lynch Wealth Management today announced that it will launch a new national event series to discuss issues that matter most to women investors across the country. The events will be held in 10 U.S. cities over the next two years and will address topics such as the cost of health care, balancing family financial support with retirement goals, investing with impact and leaving a lasting legacy.
The series kicks off with an event in Scottsdale, Arizona on October 9 featuring:
Kirstin Hill, Merrill Lynch managing director and Strategic Performance executive, said: “We need to break the silence on money. Women have fundamentally different financial journeys from men, and these journeys should be acknowledged and discussed. We have an important opportunity to dive into the issues and priorities that are top of mind for women and to provide them a clear roadmap for investing strategies that align to their particular experiences and goals.”
Added Jennifer Auerbach-Rodriguez, director and head of Strategic Growth Markets for Merrill Lynch: “We are committed to empowering women to live their best financial lives. Through this speaker series, our resources, and expertise, we are advocating for more candid conversations about money, investing and women owning their financial futures.”
A recent Merrill Lynch study conducted in partnership with Age Wave, Women and Financial Wellness: Beyond the Bottom Line, found that 70 percent of women feel that women and men have fundamentally different life journeys ‒ yet there is reluctance in talking about money.
The study found that 61 percent of women would rather discuss details about their own death than talk about their money. And while 64 percent of women say they would like to live to age 100, 44 percent worry they will run out of money by age 80. Some 30 percent of women ages 30 to 44 ‒ critical years for retirement savings – say they have not planned at all for their future.
The average woman is likely to have higher health costs in retirement than the average man – paying $195,000 more on average1 – because they live longer and may have to rely on long-term care. Women are also more likely to serve as caregivers to both their spouses and parents, which can come with serious financial repercussions, as underscored in the Merrill Lynch and Age Wave study The Journey of Caregiving: Honor, Responsibility and Financial Complexity.
Merrill Lynch created this event series in direct response to these issues. The series is designed to drive thoughtful and candid dialogue on women’s financial concerns and life paths and to identify steps women can take to help achieve financial wellness at every stage of their lives. You can explore more insights and relevant topics for women investors at www.ml.com/women.
1 Age Wave estimate, based off Yamamoto, D.H, Health Care Costs – From Birth to Death, Health Care Cost Institute Report, 2013, HealthView, Retirement Healthcare Costs Data Report, 2016-2017.
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