2024-04-26 | retirement
... rease from 34% at the start of 2022. However, among those who are actively saving for retirement, approximately 40% of men believe they are saving adequately, compared to only 30% of women. Indira Venkateswaran, AARP's Senior Vice President of Research, emphasized the urgency of the situation, stating, "Every adult in America deserves to retire with dignity and financial security. Yet far too many people lack access to retirement savings options and this, coupled with higher prices, is making it increasingly hard for people to choose when to retire." The survey also shed light on the debt bu...
2024-04-09 15:00:00 | consumers financial education
... lder Americans have a different perspective, with 61% of men over 65 feeling adequately prepared by their education, in stark contrast to their younger counterparts and to the 57% of women in the same age group who disagree.Key areas where education was found wanting include tax preparation (71%), managing student loans (67%), understanding credit and loans (64%), and household budgeting (59%). Glenn J. Williams, CEO of Primerica, expressed concern over these findings, emphasizing the importance of addressing these educational gaps to ensure individuals are equipped to navigate their financial...
2024-03-15 23:59:00 | retirement women
... s believe they are qualified to do so.Nonetheless, only about half of married (51%) and single (47%) women who pay for the services of a financial advisor or expert believe they now understand their financial goals. ...
2024-03-12 08:42:12 | retirement
... h Fidelity’s latest data showing retirement account balances at the highest they’ve been in two years.However, many concerns still remain. Compared to their parents’ retirement, over half of younger generations (56% of Gen Z and 57% of Millennials) believe they’ll have a harder time saving for retirement due to the higher cost of living (compared to only 16% of Boomers and 38% of Gen X). Across generations, inflation, consumer debt and building emergency savings are the main barriers to reaching retirement savings goals; although younger people also cite additional challenges such as s...
2024-03-08 | technology
... the amount will go toward new technology projects. The corporation has invested $32 billion in innovative technological initiatives during the past ten years. These continued expenditures, together with our high-tech, high-touch methodology, keep improving the customer experience via all of our channels and increasing operational effectiveness throughout our business.The level of engagement that customers have with our digital solutions is one of the best indicators of success. 57 million clients use our digital services now to assist with money management. An 11% increase from the previous ye...
2024-03-06 | financial wellbeing
... 7-in-10 men (69%) feel prepared to face an out-of-pocket medical cost, in contrast, less than half of women (49%) feel the same way.Unexpected Healthcare Costs are Placing Many Deeper in Debt: 44% of adults say they would have to take on additional debt to cover an unexpected medical cost, primarily using credit cards (44%) and payment plans (46%).Confusion Around Existing Medical Coverage: 1-in-3 adults do not fully understand what their health insurance plan covers, indicating a need for improved educational resources on the specifics of medical coverage and assistance selecting benefits tha...
2024-02-15 | retirement financial wellness
... ly and in the past.White and "Other" respondents, including Asian/AAPI respondents, score higher than Black and Hispanic respondents.Retired respondents score higher than non-retired respondents."In the complex realm of financial planning, the idea that a one-size-fits-all approach suits everyone is a misconception. Just as each person is unique, their financial strategies should be tailored accordingly, particularly regarding retirement income planning and considerations for long-term care and health care," says Kaylee Ranck, PhD, Director, Office of College Research at The American College o...
2024-02-01 | consumers spending
... ncial objectives. Furthermore, women are much more likely than men to believe that their partners are more knowledgeable about investing-related subjects; 57% of women say their partner is more knowledgeable than they are (40%)....
2024-01-22 | consumers economy
... a recession in the next 12 months. Daily financial stress due to the high cost of living in America is more common in women (35%) than in males (24%).Americans are adjusting their spending in order to fulfill their desire of becoming homeowners. Among those who are looking to buy a house, opening a special savings account is the most common way that people save money for a down payment (43%). Nevertheless, 29% of Americans do not currently own a home and do not have any plans to do so in the upcoming year. Just one out of ten respondents said that owning a home is highly attainable.&...
2023-06-01 | demographics finances
... can enjoy life because of the way they're managing their money (compared to 30% of women).The full report can be found at just www.tiaa.org/public/institute....
2022-09-22 | consumers demographics women
... toward stability and control. We will continue to update and publish the Ellevest Women's Financial Health Index, monitor women's relationship with money, and provide best-in-class resources in the months and years to come." Source: Ellevest...
2022-08-05 12:00:00 | retirement women
... also protect their futures," said Alliance for Lifetime Income CEO Jean Statler. "41% of women say portfolio protection is more important than high returns. As women near retirement and enter their highest-earning years, they should consider adding protected income to their portfolios." Women are risk-averse in their careers (32%), personal lives (30%), but not their investments (12 percent ). 43% say they take more financial risks than with their life or work. Many "future selves" may regret not taking personal risks in 20 years. Saving more money for later (45%) is the only regret in t...
2022-07-27 | consumers economy
... rement Businesses. "Our goal is understand these diverse needs and provide innovative, tailored solutions that make an impact on the financial lives of our customers." Source: Prudential Financial...
2022-04-25 12:15:00 | workplace
... average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased to $73,283 from $70,339 in November. The increase was most pronounced for women, respondents with a college degree, and those with an annual household income lower than $60,000. The SCE Labor Market Survey is fielded every four months as a rotating module of the Survey of Consumer Expectations (SCE). The data are updated online three times per year as results come in, and an annual New York Fed press release, issued following the July survey, highlights notable changes and trends. S...
2022-04-25 12:00:00 | sustainabillity
... ural, and white consumers are less likely to believe society is a positive influence, reflecting the demographic gap above. Even more surprisingly, women are also significantly less likely than men (38% versus 49%) to respond positively. These results indicate that companies can find suitable ways to expand and refine sustainability messages beyond the younger urban consumers who are already on board. Source: The Conference Board...
2022-02-11 12:29:10 | retirement women workplace
... to delay or cancel their retirement plans, 67% say they've shifted their overall approach to saving for retirement in response. The survey found women are also interested in exploring solutions that can help them reach their goals. About half (48%) of female participants showed interest in in-plan guaranteed lifetime income. ...
2021-10-29 09:08:19 | demographics retirement
... ...
2021-10-12 12:00:00 | retirement
... , 65% of respondents are not confident they will save enough to retire comfortably. That confidence varies by gender, with 39% of men feeling somewhat or very confident compared with 31% of women. Confidence also varies by income, with only 20% of respondents who make under $40,000 annually reflecting confidence in their savings plans – and 32% who make between $40,000 and $80,000 reflecting confidence. “While this survey highlights a gap between what people want from retirement and how they are planning for it, there is good news in that free financial resources are available to help p...
2021-08-10 09:08:19 | workplace
... wanted (68% men, 55% women). During the last six months, 22% of respondents were approached by someone (whether a recruiter or a former co-worker) with a potential work opportunity, 17% interviewed for a job – including nearly a third of Gen Z-ers (32%) and 21% Millennials – 15% asked their network about job opportunities – including 22% Millennials – and 14% spoke with a recruiter about a potential job opportunity. Government or non-profit employees are the least interested in switching jobs out of all industries, as only 46% are interested in finding a new opportunity, compared ...
2021-07-06 | workplace
... ...
2021-06-22 10:08:19 | healthcare
... se, high cholesterol, and cardiovascular disease. With the exception of heart disease, the probability of needing long-term care is lower for both men and women with a chronic condition given reduced longevity. HealthView Services' planning data reveals that when care is required by those with a chronic condition, on average it will be needed at an earlier age and for a longer period compared to a healthy individual. For an average 50-year-old couple, costs will be significantly higher than for the 65-year-old couple, driven by an extra 15 years of annual LTC cost inflation. Assuming projec...
2021-06-22 09:08:15 | travel
... travel plans with 23% reporting they will travel either both internationally and domestic or only internationally. Almost a quarter of respondents are either not traveling or are still unsure if they will be traveling. Of those who don't plan to travel, 41% cited reasons relating to the pandemic, with 28% saying they don't feel comfortable traveling with the pandemic still active. … and what do parents think of traveling with children this summer? Parents who have dealt with the struggles of remote learning over the past year are even more prepared to get away, compared to folks with no ...
2021-06-08 12:00:01 | health
... nearly half of men have high blood pressure, and according to NHANES, 43% of men are obese — not to mention that a number of health issues are unique to or much more common with men than women, such as certain cancers and heart disease. The motivating voices of reason for men Men agree that a positive, encouraging nudge to go to the doctor can help, with 44% saying their spouse or partner (wife, girlfriend, husband or boyfriend) persuades them the most to visit the doctor. Women, in particular, have the strongest pull, with over half (56%) of men reporting their wives, girlfriends or mot...
2021-05-19 12:00:00 | pandemic demographics
... iable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the "Deloitte organization") serves four out of five Fortune Global 500® companies. Learn how Deloitte's more than 330,000 people make an impact that matters at www.deloitte.c...
2021-05-07 | retirement healthcare
... 5-year old, opposite-gender couple retiring this year can expect to spend $300,000 in health care and medical expenses throughout retirement. For single retirees, the 2021 estimate is $157,000 for women and $143,000 for men. This year’s estimate marks a new milestone high, up 30% from 10 years ago when the amount was $230,000, but just 1.7% from 2020 ($295,000) as health care inflation has remained relatively flat over the last few years. Fidelity began measuring in 2002 to build greater awareness of estimated health care costs and the importance of starting to plan and save early to ...
2021-05-06 | investing
... r a better sense of financial security and make them feel more confident in their financial futures. Eight in 10 women believe that equal involvement would make them feel more prepared if something happened to their spouse, such as disability, illness, or death. Source: UBS...
2021-05-06 | pandemic workplace
... thers The index shines a light on the disproportionate impact of the pandemic on women. Mothers are significantly less likely (59%) than fathers (74%) to be optimistic about their finances. Additional findings include: Fathers were twice as likely to have increased their savings over the last three months (50% vs 25%). Mothers who reported saving less were also more likely to lose their jobs during the pandemic (16% vs. 11% of fathers). Job loss is also the top reason mothers were more likely to dip into savings (26% vs.15% of fathers). Almost twice as many fathers reported b...
2021-04-28 12:00:20 | financial wellness pandemic
... personal finances compared to 54% of men. Major factors contributing to high levels of financial anxiety and stress include a lack of assets and insufficient income, high debt, money management challenges and low financial literacy. Women, young adults, people with financially dependent children, and those who are low-income, unmarried and unemployed are most financially anxious. People with high financial anxiety were more likely to have past-due bills for the treatment of a health problem. Focus group respondents said that having too many expenses and monthly bills, espe...
2021-04-20 12:00:06 | investing payments
... to soon, making up 53% of those crypto curious reporting interest about investing in the asset class. Looking deeper, only a quarter of these crypto-curious women are under the age of 35, and 25% are near retirement at 55 or older. Education is crucial in converting crypto-curious consumers to actual holders, with 39% of those who don't hold cryptocurrency considering themselves "somewhat or very" knowledgeable about cryptocurrency, but 60% identifying as "not very" or "not at all" knowledgeable. A strong majority of U.S. adults (77%) indicate they are open to l...
2021-04-14 12:01:00 | demographics investing
... or brands include Fem-Finance—a shift from money management by and for men and to products designed to meet women's needs. For example, what if credit card rewards could be used to offset the high cost of fertility treatments? Breaking the Money Taboo: Money has topped the do-not-discuss list for decades, alongside politics, sex and religion. A culture of taboo toppling is creating a new openness around money, and transparency will define a new era of finance. Looking forward, finance-tainment, financial therapy, and wellness solutions will help us forge a healthier relationship with money....
2021-04-12 14:00:00 | workplace employment
... re connected with their coworkers than before the pandemic, if you break down the numbers, men are 44% more likely than women to feel more connected since the pandemic began. When looking across workers of different races, 43% of Black workers felt more connected since the pandemic began, compared to 27% among white workers. Individual contributors want to go back to office more than managers: While 73% of all employees say they want to work remotely at least 1-2 days a week, managers and above are 20% more likely than individual contributors to want to have a hybrid system. Gen Z is setti...
2021-04-08 12:00:00 | pandemic workplace
... e national survey was conducted online by Pollfish on behalf of Hibob on February 25, 2020. It includes responses from 1,000 full-time employees ages 25 and up in the United States. Source: Hibob...
2021-04-01 15:00:00 | retirement investing
... personalized advice would be most helpful. While millennials are interested in simplified plan menus and better fund descriptions to help them make better investment decisions, more than a third of Gen Xers (34%) want clearer explanations of the plan’s investment options, and regular updates about plan changes (33%), in addition to personalized advice on what investment(s) to choose (33%). For additional information and the full report, click here. Source: Capital Group...
2021-03-30 12:00:02 | economy demographics
... ople of color already face additional earnings barriers. Taking on too much or too little risk can perpetuate this. Investors should ensure that their risk tolerance is aligned to their investment objectives to help maximize achieving their goals.” Black and African American investors give and receive family financial support Having access to financial support from family was a sentiment shared by all investors. However, Black and African American investors are more likely to have received such help. Twenty-two percent of all Black and African American investors said they have personal...
2021-03-26 | consumers economy
... popular money option Respondents age 25-34 are the most likely to invest their tax refunds or spend it on something fun Nearly 35% of respondents do not expect a refund Source: MyBankTracker...
... n improve their situation as we move past the pandemic.” The survey revealed, however, that relatively few women seek advice from financial advisors. In fact, more women have received advice from their parents (36%) than a financial advisor (27%). Source: Edelman Financial Engines...
2021-03-18 | retirement
... eat but not bad,” and 18% said they were struggling. Notably, one-third (33%) of respondents already in retirement said their expenses were higher than expected, including 10% who said, “a lot higher.” About the Survey The Schroders U.S. Retirement survey was conducted by 8 Acre Perspective nationwide among 1,000 U.S. consumers ages 45 –75 from January 20— 27, 2021. Respondents were fairly evenly split by age and gender; age: 45-59 (367), 60-69 (348), and 70+ (285); male (501), female (499). Source: Schroders plc...
2021-03-12 15:00:00 | demographics retirement
... s to retirement loom large. Among female investors, the top barrier to saving for retirement is health care costs (47%), followed by rent or mortgage (41%). And the top reason women withdrew early from their retirement funds was for a medical emergency (13%). Paying for education costs (10%) or spending on herself or her family (10%) closely followed. “Amid an incredibly disruptive year, it’s encouraging to see female investors thinking long-term and putting more away for their future selves,” said Deniz Ozgenc, Executive Director of Financial Product Management at E*TRADE Financial. ...
2021-02-05 | investing
... industry, investor advocates and policymakers critical insights about pathways to financial inclusion for all Americans and presents a roadmap to help inexperienced investors, women and people of color close the wealth gap. On the other, low levels of investment knowledge among all types of investors in the sample—new and experienced—underscore the importance of educating investors about risk and reward, costs and fees, tax consequences of investing and other key concepts.” “In early 2020, we began seeing media narratives about an influx of investors into the market. This research m...
2021-02-02 13:00:00 | pandemic retirement
... relationships. While 62% of men claim their household's everyday financial decision-making is shared between them and their partner, 61% of women claim they are the sole decision-makers, indicating a lack of alignment on who's "in charge." Cautiously Optimistic Most Americans are staying optimistic about the future, with 75% of those who have had their job impacted in 2020 saying their financial confidence has not declined. In fact, 39% of respondents expect to bounce back from financial disruption within a year. When asked about financial fears as a couple, 19% say they do not have ...
2021-01-28 09:30:30 | pandemic women retirement
... cial Security (both 68%) and defined benefit plans/pensions (42% and 45%). However, women were somewhat less likely than men to use other guaranteed income solutions to protect against outliving savings, such as deferred income annuities (DIAs; 10% vs 12%), single premium immediate annuities (9% vs 16%) and qualified longevity annuity contracts (QLACs; 8% vs 11%). Source: Nationwide...
2021-01-18 | healthcare insurance
... e more manageable. Your best health insurance will be a policy that you can afford, and balances any potential health care costs you may experience during the plan year." Source: ValuePenguin.com...
2021-01-14 10:00:00 | retirement spending
... of women. A few investors (19%) responded to the bear market early in 2020 by shifting to a more conservative portfolio — 9% of respondents sold investments to boost their cash cushions and 6% sold all of their stocks. As of the survey date, current asset allocations for investment portfolios or retirement accounts remained conservative, with investors typically holding just 36% in stocks and a remarkable percentage in cash (24%). Indeed, the global pandemic and its impact on the market and economy was a learning moment for investors, who reported these top five takeaways: My port...
2021-01-13 15:00:00 | pandemic spending
... fford a splurge of any kind right now." To view the full report, visit: https://www.lendingtree.com/credit-cards/study/80-percent-americans-plan-post-vaccination-splurge/. Source: LendingTree.com...
2021-01-12 12:05:00 | women retirement
... it’s paid for.” Source: The American College of Financial Services...
2021-01-01 | pandemic millennials
... f Gen-Z and 34% of Millennials) and women (42% vs. 34% of men). Source: Fidelity Investments...
2020-08-25 09:26:29 | women retirement
... members. According to the 2016 Survey of Consumer Finances, among households with older women, about 23 percent of those with white respondents and 40 percent of those with African American respondents fell short of a measure of retirement confidence, indicating their income was not sufficient to maintain their standard of living. The likelihood of a household reporting high retirement confidence rose in certain cases. For example among households of similar wealth, those with greater liquidity in their portfolio and those with defined benefit plan income were more likely to report high retir...
2020-06-25 09:26:29 | advice
... orts on engaging with specific groups. Of those firms taking DE&I actions, 73% have efforts aimed at attracting women clients, 47% at attracting race and ethnic-based groups and 46% at attracting the LGBTQ community. Advisors indicate a client’s age and physical or mental ability require the most tailored planning experience, outside of specific programs. Specialized marketing programs and diverse advisor teams have proven effective to an extent, though firms report remaining difficulties in engaging diverse clients. The greatest barriers for creating a more diverse client base includ...
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