Strategic Financial Plans for Widows
By: Stacy Francis
Feb. 23, 2023
Your finances are what you must plan for and live on for the rest of your life, and most widows can expect to live a long life without their spouses. Much of this is due to the different life expectancies for men and women. Even though life expectancies have dropped slightly in recent years due to Covid and other factors, women still outlive men by approximately six years. In addition, some widows are solely responsible for making financial decisions on their own for even more extended periods because they were younger than their partners when they married.
Some widows were intimately involved in the finances during their marriage, but most were not, leaving them ill-prepared to deal with the many financial decisions they must make after their partner passes. Taking a back-seat role in money matters can leave widows vulnerable at one of their most critical and challenging times.