An Abundance of Caution
Mary Quist-Newins, CLU®, ChFC®, CFP®
As the State Farm Chair in Women & Financial Services at The American College, Mary is also the author of Women and Money: Matters of Trust.
The financial services industry sometimes gives women a bad rap when it comes to their investment attitudes and behaviors. They are often seen as risk avoidant and even indecisive in their approach to investing. In the end, however, these qualities may significantly benefit both female investors and the financial planners who advise them.
STUDY SAYS
Industry and academic research consistently demonstrate that women, in general, are more cautious and less confident investors than men. A recent study by Redbook magazine found that males were three times more likely to take an investment risk than females.
Another survey, conducted by Harris Interactive for Charles Schwab, revealed that nearly half of all females polled agreed with the statement: "investing is scary for me," while just one out of four male respondents shared the same sentiment. The Harris poll also found that over 80% of male respondents felt confident in their investing abilities versus just over half of females.
Read the full article online at: http://www.financial-planning.com/fp_issues/40_12/missing-in-action-2669824-1.html
Source: Financial Planning
August 1, 2010 - By Mary Quist-Newins
