Mellody Hobson: Forging Your Own Financial Identity

April 16, 2005 — -- Statistics show that women typically live longer than men, so it's important to create your own financial identity to protect yourself in case something should happen to your spouse. Here are some suggestions and tips on the best ways to make sure you're prepared in case of an emergency.

1) To have your own financial identity, the following things are mandatory:

2) It's important to plan for your retirement individually.

3) Pay yourself first, and then your children. Keep the following things in mind when you're thinking about your own finances:

4) You must build a nest egg.

5) Women live longer, so we require more money to live.

6) Women, you need to get informed about how to make money work for you.

7) Women generally timid/conservative investors.