William Bitters
A Guide to Financial Risk An Interview with William Bitters


Financially and otherwise, the deck seems to be stacked against women. According to an analysis by the Institute of Women’s Policy Research, the wage gap, which stood at 20% in 2017, might be the most blatant example of how the odds are stacked against women’s favor, and this includes their retirement. To go over some of the major discrepancies between how the financial service industry is skewed in the favor of men, President of United Financial Information Services (UFIS), William Bitters, who has been working in the financial industry for over 34 years provides insight.

A study from the National Institute on Retirement Security found that women are 80% more likely to be impoverished in retirement. According to this report, women retirees and pre-retirees expect to exhaust their retirement savings five years early, while men expect their retirement savings to last beyond their retirement. This study found that women have lower confidence and downside risk in areas including managing and optimizing Social Security, replacing a higher percentage of pre-retirement income, managing savings and investments, and taking investment risk. Women tend to be more risk-averse, but not doing anything is even riskier. If you have 401k you are already an investor, unfortunately, you are subjecting yourself to down-size risk. It’s the one purchase we make that we have no idea what we are actually spending.

All this uncertainty doesn’t come as a surprise, as the average woman still only makes 84 cents on the dollar that a male worker earns. In addition to earning less, women tend to live longer than men, and are more likely to take time away from work to raise children. For these and other reasons, it is no wonder that women are also more likely to rely upon Social Security benefits for income in retirement.

One of the reasons, according to William Bitters is that compared with men, women are much less likely to invest in their savings, and for this reason, they miss out on significant wealth. Due to the wage gap, even if a women is able to save a greater percentage of her income than men, and research shows repeatedly that they do, women will still accumulate less money.

Additionally, in a recent survey from Fidelity Investments, only 29% of women see themselves as investors. William Bitters understands that this needs to change. But how, and where do we start? This is where William Bitters comes in. He educates and informs so women have the options that work best for them-especially in risk and tax-free instruments. He understands that not doing anything will only continue to widen the gap, and that it is possible for women to take control of their financial future.

Finding a Financial Advisor, such as William Bitters, doesn’t have to be hard but you cannot solely depend on your Human Resources Department at work to try and plan for the disadvantages that women come up against in the financial services industry. William Bitters can show you options beyond a 401k portfolio that best suits your particular circumstances with no downside risk and no management fees.



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