Why Women Must Invest More Aggressively

"The fear tactics may get women's attention, but it's not motivating," Stanny says. "Women need to see the excitement and possibility of what they can do. Money gives them the ability to control their lives, and it's not as difficult as they think."

Born to a wealthy family as daughter of the "R" in H&R Block," Stanny was told by her financially astute father not to worry about money -- not just because she was rich, but because she was also a woman. This was not the best advice as her first husband turned out to be a compulsive gambler whom she allowed to manage her money for 15 years.

"I lost a fortune," she says, as she found herself facing taxes, bills and penalties exceeding $1 million. And she had to do this alone as her father wouldn't lend her the money, something she says was "probably the best thing he could have done" because it taught her financial responsibility, albeit the hard way.

Reversing the Trend

Stanny says that while money knows no gender, the delivery of financial advice to women needs to be different than it is for men. For women, money is an emotional topic, and they need someone to discuss it with, she says. "I think every woman should work with a financial adviser. We need to understand the decisions we make and a good adviser will confront irrational fears and beliefs."