This is what a high-powered fashion executive told her financial planner during their initial meeting. Most of us probably cannot relate to the day-to-day life of a well-heeled New York fashionista. However, studies show her fear of outliving her money is an all too familiar concern, particularly for women.
I’m terrified about becoming the best-dressed bag lady in Manhattan. I spend everything I take in; I don’t have a plan. If my paycheck stops, I could have nice stuff but nothing to show for it.