Men vs. Women on Financial Planning

Men vs. Women ON FINANCIAL PLANNING SAVING When MEN and WOMEN 18-49 were asked whether they would put their income tax return into savings: MEN WOMEN 40% SAID YES 30% SAID YES Both genders choose to save more as they grow older. The same question was posed to MEN and wOMEN 50+: 45% SAID YES 48% SAID YES SAVINGS GENDER AND AGE GAPS - VISA - 2007 When asked what they were saving for, WOMEN 50+ responded: #1 31.9% "For Retirement" #2 #3 # 4 #5 #6 "Health" "Home" "Vacation" "Emergencies" "Nothing Specific" NATIONAL CENTER ON WOMEN AND AGING 2002 When MEN and woMEN were asked if they thought they were on target to replace 80% of their income in retirement: 23% SAID YES 12% SAID YES UNEMPLOYMENT General unemployment between July and September 2009 rose for both genders, but rose slightly more for MEN. BLS - THE EMPLOYMENT SITUATION 2009 423B 10, UNEMPLOYMENT RATE UNEMPLOYMENT RATE BY GENDER 8 10 4. 2006 2009 JULY SEPTEMBER When asked whether they had an emergency fund to pay for bills for a couple of months if they lost their job only 34% of WOMEN said they did, compared to 53% of MEN. WOMEN 34% MEN 53% FINANCIAL FINESSE 2009 20 40 60 80 100 IN 2008 AMERICANS' CREDIT CARD DEBT REACHED $972.73 BILLION "I regularly pay off my credit card balances in full." 100 36% 61% OF MEN OF WOMEN 80 60 40 Financial problems are the #1 reason reported as the cause of divorce. INVESTING NASDAQ HISTORICAL CLOSING PRICE 2000 2009 "I contribute to a retirement plan such as a 401(k)." "I have a general knowledge of stocks, bonds, and mutual funds." "I feel confident my investments are allocated appropriately." 100- 100- 100 80 80 80 60- 60- 60 40- 40 40 20 20 20- FINANCIAL FINESSE 2009 Overall, when compared on Saving, Investing, and Unemployment Preparedness, MEN are more prepared for future financial instability.