Website encourages women to save

(Saving with 6abc - Amy Buckman)

April 2, 2010 3:15:50 PM PDT
Whether you're a 24-year-old woman with a net worth of $21,000, a 68-year-old woman with a net worth of nearly $600,000 , or somewhere in the middle, you should be thinking about saving money for your future, even in this tough economy.

Tracey Marrocco of Penn Mutual Insurance explains, "The mistake that people make when they're looking at their retirement, is they get overwhelmed by the big picture. They don't realize that time IS on their side and that a little bit goes a long way over time. But the most important thing is to just get started."

That's why the Penn Mutual Insurance company has created a new website called Worth For Women.

"Our research shows that many women are not confident in their financial future and that they're behind in or have not started to make a plan," Marrocco says. "That's why we developed this website. "

Among the website's features: a "worth" calculator. It helps women add up the value of services they provide -- even if they're not getting paid for them. Things like carpooling, shopping, and scheduling doctor's visits.

The theory is once women realize how much they contribute to their family, even if they don't work outside the home, they'll be more apt to take control of financial planning for their own futures.

"Once you start to do that," Marrocco says, "You can find the places where you can save. And systematically, little by little, it adds up over time."

The site also has advise on how to pick a financial adviser.

And though it is run by Penn Mutual, there's no obligation to use their agents or invest in their products, once you use the site.

To check it out for yourself, click here.