Women, money and investing
InvestmentNews partnered with Kiplinger’s to ask women about their experiences at different life stages with investing and financial…
InvestmentNews partnered with Kiplinger’s to ask women about their experiences at different life stages with investing and financial advisers. Here are some of the results.
Gender
Their adviser’s gender
Their adviser’s gender
Female
Male
Male
Breadwinners
Widows
Source: InvestmentNews/Kiplinger’s Financial Advice & Investing Survey
Reason
No. 1 reason to hire an adviser
No. 1 reason to hire an adviser
High-level professionals
To help plan and save for retirement
Breadwinners, Widows, Single and Wealthy
To improve overall investment returns
Source: InvestmentNews/Kiplinger’s Financial Advice & Investing Survey
Discussion
I only discuss my finances with professionals
I only discuss my finances with professionals
Source: InvestmentNews/Kiplinger’s Financial Advice & Investing Survey
Risk
Their investment risk tolerance
Their investment risk tolerance
Low or below average
Average risk tolerance
High or above-average
Average risk tolerance
High or above-average
Low or below average
Average risk tolerance
High or above-average
Source: InvestmentNews/Kiplinger’s Financial Advice & Investing Survey
Overview
Range of women’s financial goals and fears
Range of women’s financial goals and fears
No. 1 personal financial goal
| Breadwinners* | Single and wealthy** | Widows | High-level professionals*** | |
|---|---|---|---|---|
| Leave behind wealth or a legacy for future generations of my family | 6.5% | 11.5% | 22.1% | 3.9% |
| Retire with financial security and peace of mind | 60.2% | 42.3% | 19.8% | 76.5% |
| Accumulate as much wealth as possible | 3% | 3.8% | 3.5% | 2.6% |
| Accumulate wealth for specific ambitions (travel, opening a business, etc.) | 5.5% | 7.7% | 4.7% | 8.5% |
| Lead a comfortable and predictable lifestyle | 24.9% | 34.6% | 50% | 8.5% |
No. 1 financial fear
| Breadwinners* | Single and wealthy** | Widows | High-level professionals*** | |
|---|---|---|---|---|
| Going into debt, not being able to pay off debt | 5% | 7.9% | 9.7% | 8.5% |
| Not having enough money to support my family | 7% | 2% | 3.7% | 5.9% |
| Not having enough money to retire | 13.6% | 4.9% | 2.4% | 17% |
| Running out of money in retirement | 59.3% | 71.6% | 67.1% | 58.2% |
| Not being able to cover medical expenses | 15.1% | 13.7% | 17.1% | 10.5% |
Primary tools for learning about finances
| Breadwinners* | Single and wealthy** | Widows | High-level professionals*** | |
|---|---|---|---|---|
| Newspapers, magazines or websites | 88.8% | 83.8% | 80.2% | 87% |
| Financial television news networks | 13.7% | 34.3% | 35.4% | 11% |
| Personal financial adviser | 28.3% | 29.5% | 31.3% | 27.9% |
| Friends or family | 12.7% | 1% | 8.3% | 15.6% |
| Seminars or other events | 4.4% | 6.7% | 4.2% | 3.2% |
| Financial institutions (bank, 401(k) provider, brokerage firm) | 16.6% | 21% | 16.7% | 23.4% |
Resources that would be most helpful if seeking a financial adviser
| Breadwinners* | Single and wealthy** | Widows | High-level professionals*** | |
|---|---|---|---|---|
| Information hosted on an adviser’s website | 41.7% | 37.9% | 40% | 53.8% |
| Social media accounts, blogs or newsletters from an adviser | 13.9% | 10.3% | 10% | 15.4% |
| Attending a seminar hosted by a financial adviser | 29.2% | 34.5% | 25% | 23.1% |
| Radio or television program where an adviser is the host or a guest | 15.3% | 17.2% | 25% | 7.7% |
Source: InvestmentNews/Kiplinger’s Financial Advice & Investing Survey
Note: *Married women who are the primary or equal earner in their household, and are the primary decision-maker when it comes to their investments; ** Unmarried women whose household net worth is greater than $750,000; ***Working women in management, executive or ownership positions.
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