Women, money and investing

MAY 15, 2016
By  Ellie Zhu

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
Female Male
Breadwinners Widows
Source: InvestmentNews/Kiplinger's Financial Advice & Investing Survey
Reason 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
Source: InvestmentNews/Kiplinger's Financial Advice & Investing Survey
Risk Their investment risk tolerance
Low or below 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
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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