Many women fear becoming a bag lady in this troubled economy and are searching for ways to spend less to better ensure their money lasts as long as they do.Because we cannot control the economy or the stock and bond markets' rise or fall, we may be tempted to live our lives as if this current state of contraction would last our lifetimes. Surely it will not.
I also read yesterday that one in five Americans aged 18-34 is obese! Yes, I have noticed the spread widening on Americans as we sidle up to yet our next buffet or super-sized fast food meal.
If Barack Obama can defy the terrific odds of being raised by his grandmother instead of a nuclear family, graduate Harvard magna cum laude, become a community organizer in Chicago in 1985, serve Illinois as their Jr. Senator from 1996-2004, win their US Senate seat from 2005-2008, and later outsmart, outrun, and outfundraise Hillary Clinton to become the Democratic nominee, and ultimately win the prize of the United States of America's first black President, then we women can surely push past our resistance to learning about our money. By comparison...well there really IS no comparison, period.
The fear of becoming a bag lady is just that; a fear of losing everything in a heartbeat. This abject fear has generally been conjured up in terms of a woman becoming widowed or suddenly divorced. So enter being “Madoffed” as a new cause of a bag lady fear.