Women are better at investing than men. This research is backed by a recently released Women and Money Survey from Fidelity Investments which states that there is a huge difference between the returns and savings of men and women in 2016.
Important points highlighted in the survey:
1. The investment gains of women topped their male counterparts by 0.4% last year
2. Women saved 9% of their paychecks in 2016
3. Men set aside 8.6% for their retirement
Interestingly, women who took part in the survey confessed that they hadn’t expected themselves doing so good. Pointing out to the irony here, Kathleen Murphy, president of personal investing at Fidelity, says, “The results of Fidelity’s analysis underscores the view that women are underestimating their strengths as investors. And that realization could go a long way towards getting more of them actively involved in managing their own money.
“Investing is a skill they must master because 90 per cent of women will at some point in their lives be the sole decision-maker in financial matters, due to divorce, death and other circumstances.”- Kathleen Murphy
“We’re trying to pierce the ‘confidence gap’ in their minds,” Murphy tells USA Today. She added that investing is a skill they must master because 90 per cent of women will at some point in their lives be the sole decision-maker in financial matters, due to divorce, death and other circumstances.
She also highlighted the fact that women are taking positive steps to save and invest effectively for the future. And for the ones who aren’t doing it, she said, “Taking the next step to ensure that savings are invested properly and generating growth is critical to helping women progress toward their financial goals and live the lives they deserve.”
The report also highlights the three important factors due to which women outperformed men. It mentions that women refrain from investing for the purpose of beating the market. They plan their investments according to their life goals. Secondly, they do not believe in taking risks. They like to play safe. Thirdly, they are very patient with their finances and place fewer trades.
Keeping in view the changing global scenario with respect to financial independence of women, it is good to find women taking the right steps to keep themselves and their future financially secure.
Charvi Is An Intern With SheThePeople.TV