New Fidelity Study Reveals 58% Of Women Aim For Financial Security As Their Ultimate Goal
In recognition of Women’s History Month in March, Fidelity Investments has released new findings on the financial status of women, strategies to reduce financial anxiety and how parents are preparing their children for a better financial future.
While everyone has their own financial goals, it appears that the majority of women have their sights set on one thing: financial security.
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The survey of 3,008 adults found that 58% of women prioritized achieving financial security and freedom from money worries as their top goal.
Last year, a similar Fidelity survey found that 59% of women identified financial security as their primary goal — not much change year over year.
This shouldn't be much of a surprise. Most people — men and women — are seeking financial security as a means of reducing stress and increasing the amount of enjoyment in their lives.
The same study found that 57% of women are stressed about money compared to 41% of men who feel the same way.
Now, here's the real eye-opener: 93% of women feel stressed about managing their money. That's almost everyone who was surveyed.
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.
What Else Are Women Aiming For?
While the largest number of women are chasing financial security as their ultimate goal, they have other things on their minds, including:
Living the lifestyle they want (36%)
Saving enough money to retire or work less (34%)
Achieving financial independence (29%)
Providing for a family or loved one (28%)
Can Adults Change The Future?
The adults of today — those who are raising the adults of tomorrow — have the power to change the way that their children look at finances. But that's only if they're willing to provide the necessary knowledge and guidance.
Here are two important takeaways from the study:
53% of respondents are talking to their children about how to budget and spend responsibly
68% of parents have established an account — such as savings, retirement or educational accounts — for their children
In regards to investing, fathers (37%) are more likely to discuss this topic than mothers (29%).
With all of this in mind, it's good to know that women are taking action to improve their circumstances. Roughly 80% of them have either taken financial action in the past six months or are planning to do so in the near future.
They're not sitting back idly, hoping for the best.
Consulting a financial adviser can help you better understand how to reach all your financial goals. A professional can offer personalized advice to help you make the best possible short- and long-term money decisions.
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*This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions.
Chris Bibey has written about personal finance and investment for the past 15 years in a variety of publications and for a variety of financial companies. He is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Bibey believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information.
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This article New Fidelity Study Reveals 58% Of Women Aim For Financial Security As Their Ultimate Goal originally appeared on Benzinga.com
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