According to a Bankrate survey, a staggering 47% of adults believe that money has a negative impact on their mental health, with 51% of those respondents being women. To delve deeper into this issue, Maddy Dychtwald, financial expert and author of Ageless Aging, joins Wealth! alongside Yahoo Finance’s Kerry Hannon.
Dychtwald highlights the potential consequences of financial stress, emphasizing that money issues can lead to anxiety, which manifests in various physical health effects. She notes that this appears to be "even worse for women than it is for men."
Addressing the challenges faced by women, Dychtwald recommends adopting a long-term perspective and "planning for the 100-year life." She encourages women to ensure that their finances can sustain them throughout their golden years. Furthermore, Dychtwald emphasizes the need for women to gain financial knowledge and develop skills in managing their finances effectively. We need "to build our financial confidence," she tells Yahoo Finance.
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