AARP Conference Aims to Empower Filipino
Women to Save and Invest for the Future
by Barbara KIM-STANTON, AARP Hawaii State Director
Filipinas are ahead of older women in other ethnic groups in some key areas – they are the least likely to live in poverty and the most likely to be married. They also are the most likely to be working after age 65 – about 25 percent of older Filipino women are working. But their wages are generally lower than those of other older women who work. And like all women, they generally will retire with less money and are more likely to retire in poverty than men.
That’s according to a University of Hawai‘i study by Professor Collette Brown, that looked at gender and ethnic economic differences among people 65 and older. She further found that Filipino men tend to fare better than women as they age. The men who are still working (27% versus 25% for women) have a higher median income ($23,376 versus $20,327).
There are a number of reasons why older men tend to have more money than older women. Women make about 83 cents for every dollar that men make. They are more likely leave work to take care of children or older relatives. Women also live longer, which means they’ll need more money to retire comfortably.
That’s why AARP Hawai‘i holding a Women and Money: Secure Your Future conference on Saturday, July 14 at the Japanese Cultural Center of Hawai‘i (JCCH) in Mo‘ili’ili. The conference runs from 8 a.m. to noon and is open to women of all ages. Cost is $5 and includes coffee and pastries. Validated parking at the JCCH costs $6. To register, call toll-free 1-877-926-8300 or go to aarp.cvent.com/women7-14.
There is some good news for women, according to Gerri Walsh, one of the nation’s top investment educators. Walsh believes women have traits that can make them better investors than men, when they get the savings habit.
Women can be more patient investors and are not as likely to make rash decisions about investing, Walsh said. “They’re not quite as frightened by risk,” she said.
Walsh, the Senior Vice President for Investor Education at the Financial Industry Regulatory Authority (FINRA), will give the keynote address at the conference on “How Women Outshine Men at Investing.”
Walsh will also be speaking in Hilo and Wailuku on “Thinking Money: Smart Investing.” Those workshops, co-sponsored with FINRA (the Financial Industry Regulatory Authority) and the state Office of the Securities Commissioner, are free and will cover topics including retirement savings, choosing the right investments and managing and evaluating investment risk and performance.
The Hilo workshop is Sunday, July 15 at 1 p.m. at the Aging and Disability Resource Center at 1055 Kinoole Street. Lunch will be provided.
The Maui workshop is on Tuesday, July 17 at the J. Walter Cameron Center, 95 Mahalani Street in Wailuku. It runs from 5:30 p.m. to 7:30 p.m. and includes dinner.
Both workshops are open to anyone of any age. But space is limited and you must pre-register by calling toll-free 1-877-926-8300 or going to http://bit.ly/aarpHIevents.
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