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American Women Fear Becoming Bag Ladies, Survey Shows

11:35 PM, Apr 2, 2013   |    comments
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Most of us fear something, including losing our job. A new survey shows that almost half of American women fear they will become "bag ladies" some day.

According to CBS/MoneyWatch, the fear is not just for women who are considered low-income. The bag lady fear included women who had household earnings above $200,000.

The 2013 Women, Money & Power Study from insurer Allianz Life showed nearly half of all American women fear becoming a "bag lady." The study found that anxiety about ending up broke are consistent across all types of women, though highest for single respondents it also a significant concern for divorced women, widow and married women.

Sadly, the bag lady fears persist, even as women are feeling better about their earning potential. Some 57 percent of all women surveyed said they both "have more earning power than ever before" and also "handle major investment decisions and retirement planning"; 55 percent take the lead in suggesting new investing or retirement ideas; and 60 percent said they were responsible for handling tax preparation and planning, especially in the aftermath of the recession.

Read the full survey.

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