When it comes to personal finances and investing, affluent women are hard working, smart, and self-driven, according to Women & Co., Citigroup’s resource program dedicated to helping women achieve their financial goals. The survey, Women and Affluence 2008: A Generational Study, reveals that affluent women are knowledgeable about investing, confident about their retirement, often the primary decision maker, and influencing the next generation of women to do the same. Lisa Caputo, founder and CEO of Women & Co. says that the study is part of the ongoing dialogue with women. “This survey is the latest example of how we listen to women and continue to learn about their distinct financial needs, attitudes, and perspectives. The results indicate that today’s affluent women have far surpassed their mothers in financial acumen, and decision making responsibility. Despite a lack of female financial role models, affluent women empowered themselves and are committed to being a positive financial role model for their daughters.” In fact, according to the survey, women stated they talk to their daughters more about money than any other topic. Why? The research shows that women are embracing their role as CFO (Chief Financial Officer) of the household and encouraging their daughters to do the same. Some key findings from the study include:
- Affluent women are increasingly the CFO of their household, responsible for making the majority of financial decisions. In fact, 63 percent of affluent women consider themselves the CFO of the household.
- Talking to their daughters about money is more important than relationships and politics. Today, 94 percent discuss financial topics with their daughters.
- Today’s decision-makers are producing tomorrow’s decision-makers. Some 75 percent believe their daughters will follow in their footsteps.
- Mothers rank the highest as positive female financial role models. A solid 94 percent believe they are a positive financial role model for their daughters.
- Hardworking, knowledgeable, and self-driven are key traits in today’s affluent women. Some 75 percent consider themselves very knowledgeable about finance and investing.
- Affluent women are choosing to be more involved in financial decision making. Nearly 96 percent agree that women are becoming more involved in financial decision-making for themselves and their families.
- As confidence in the current economy has slipped overt the past six months, more women are turning to financial advisors for second opinions. Actually, 83 percent feel less confident in the U.S. economy than they did six months ago.
For more information, visit www.womenandco.com.
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