The report, which surveyed 6,000 individuals across the UK, highlights that 53% of men lead on investments compared to just 34% of women. A similar disparity exists in retirement planning, where 48% of men take charge versus 32% of women. Despite women increasingly controlling both earned and inherited wealth, only half report feeling confident managing a significant windfall, and fewer than half feel comfortable adjusting their investment portfolios.
Gender Divide Persists in Long-Term Financial Planning
While women dominate the management of day-to-day household budgets and spending, a stark gender gap emerges regarding long-term wealth. New research from St James’s Place reveals that men are significantly more likely to take the lead on critical investment and retirement planning decisions, leaving many women hesitant about their financial futures.
Professional guidance acts as a primary catalyst for closing this divide. Women who receive regular financial advice report markedly higher levels of confidence, with 82% feeling prepared to manage inheritances compared to 52% of those without guidance. Furthermore, those advised are nearly four times as likely to invest and twice as likely to maintain a formal financial plan. Claire Trott, head of advice at St James’s Place, notes that the issue is not a lack of interest, but rather a disconnect between managing daily cash flow and securing long-term assets. Bridging this gap requires advice that accounts for the specific realities of women’s financial lives, including career breaks and evolving family responsibilities.
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