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What’s easier to talk about — money or your own death? Strangely more women pick death.
In fact, 61 percent of women said so in a joint study from investment firm Merrill Lynch and Age Wave, a research firm focused on issues related to the aging population.
And avoiding money talks is contributing to a “wealth gap” between men and women.
“As women are at a tipping point to achieve greater financial empowerment and independence, it is even more essential that we support women in helping them pursue financial security for life,” says Lorna Sabbia, a Merrill Lynch executive. “This includes encouraging women to invest more of their assets, save earlier for retirement, and pursue financial solutions that closely align to their personal values and life paths.”
Investing in a longer life
Debt.com has previously reported on the “investment gap” that’s holding women back from retirement and becoming millionaires. Now this study tells us women’s lack of confidence in investing will cost them their golden years.
Women are confident in all other matters related to their finances but investing, the study says. They keep pace with men on budgeting, saving and paying bills. However there’s an imbalance between the sexes on who’s more confident in managing investments.
Only 52 percent of women say they’re confident in managing their investments, while 68 percent of men say the…
