Women don't come out on top in new financial study
Women may be better prepared emotionally for retirement compared to men, but they are often less prepared financially, a new study claims.
According to the BMO Women & Wealth Study, three in five Canadians have a financial plan, yet more men than women have one. And while nearly 75% of us feel we are confident we will be able to save for our ideal retirement lifestyle, men are more optimistic than women.
Among Canadians with investments, the study revealed that only 16% of Canadian women consider themselves aggressive investors, compared to 30 per cent of men. And just 13% of women think they are impulsive investors, versus 21% of men.
"Women typically have different approaches to investing than men," Viki Lazaris, president and CEO of BMO InvestorLine, said in a statement. "Female investors tend to be more conservative and risk averse. They often seek out advice, prefer a more collaborative relationship, and are more open to assistance."
She added that, over time and with education, women can become more engaged and confident online investors.