Many women are investment decision makers in their household

Curtis HaighBlog

woman_holding_credit_CardIn a poll conducted in March by the CIBC, it found that Ninety-Two per cent of Canadian women with investment portfolios are primarily or equally in charge of household financial decisions.   Interestingly enough, only half said they feel confident or have the knowledge to actually invest.

The Decision Maker

In this same poll, Forty-six per cent of women said they are in charge of household investment decisions, while 46 per cent said they share the task equally amongst their spouses.  On average, women also start investing at the age of 28, yet the majority of women (73 per cent, in fact) do not talk about investing regularly with friends or family.

The Risk Factor

The poll suggests that women do not take as many risks with investments compared to males.  Seventy-two per cent consider “Safety” very important when investing, while fifty-eight percent look for growth, and thirty-three percent look value liquidity.  The poll suggested that millennial are overwhelmingly confused when it comes to investing.

Trusted financial advisors can help close the confidence gap

Forbes gives us some really compelling reasons women are taking the lead in financial planning. From becoming more engaged in financial decisions, better education, higher income earners, and in many cases more responsibility than previous generations as it relates to overall financial decision making for the household as it relates to money and investments.

A trusted financial advisor can help to close some of the confidence gap, specifically when it comes down to working with female clients who are taking on the burden of the household finances themselves.   From financial planning, risk planning, to cash flow planning and investing, and advisor can help to close the “confidence gap” among women investors.   Set clear, defined goals, “stay cool”; and create an investing plan with your advisor.