Survey Reveals Women Less Likely Than Men to Focus on Financial Planning

From the press release:

Fifty-four percent of men focus on planning for their financial health at least once a week, compared to only 42% of women, according to a Genworth survey released today that evaluates consumers' attitudes on financial wellbeing and a balanced life. Despite this, the survey found that more women than men feel financial wellbeing is important to maintaining a balanced life.

"We found it interesting that those who said they need financial wellbeing to maintain a balanced life - particularly women- are less likely to spend time focusing on financial planning," said Wendy Boglioli, national Genworth spokesperson, caregiver and 1976 Olympic gold medalist. "Living well now and in retirement requires a balance between being both financially sound and physically fit. These factors are often overlooked due to busy lifestyles."

Additional research suggests that having financial peace of mind in retirement is becoming a more important financial goal than accumulating as much wealth as possible, and that as people age financial peace of mind becomes a greater priority.(1) This latest research validates that there is a link between one's view of their financial wellbeing and overall physical wellbeing.

Women & Achieving a Balanced Life

The notion of achieving a balanced life can often seem like an impossible goal for women who are juggling the competing priorities of family, career and caregiver. "The principles of achieving a balanced lifestyle are consistent with those I adopted to prepare for the Olympics," says Boglioli. "Like preparing for the Olympics, exercise routines must change and develop with input from coaches and discussions about what works. Creating your plan for financial wellbeing starts with a conversation between you and loved ones and develops over time to a written plan that can change as necessary."