It’s been said that women are from Venus and men are from Mars. It turns out the differences between the sexes are apparent in their financial affairs too. Before we get too far, let’s remember that different doesn’t mean bad. It’s just…well…different. The point is women and men can learn a thing or two from each other when it comes to planning for their future.
Here are the top three differences between women’s and men’s saving habits.
Women tend to…
- Be slow to act where money is concerned. They think things through and place a lot of value on working with an adviser they trust.
- Freeze and not act when they don’t know something or what to do.
- Be more interested in saving.
Men tend do…
- Make snap decisions and will work with anyone they believe can earn a higher return.
- Guess at what their best move should be.
- Be more interested in investing.
Regardless of gender, everyone needs to start saving for retirement sooner rather than later. Use your strengths to play it safe, work with someone you trust, and have a long-term goal. That’s the surest path to a worry-free retirement.