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In honor of Women’s History Month in March, Fidelity Investments is publishing a series of articles about women’s economic status, strategies to reduce financial insecurity, and how parents are preparing their children for a better financial future. The results of a new survey were announced.
Everyone has their own financial goals, but the majority of women seem to have their sights set on one thing: financial security.
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The survey of 3,008 adults found that achieving financial security and freedom from money worries is a top goal for 58% of women.
A similar Fidelity survey conducted last year found that 59% of women said financial security was their primary goal, but there has been no significant change over the years.
This isn’t all that surprising. Most people, both men and women, seek financial security as a way to reduce stress and increase enjoyment in life.
The same study found that 57% of women feel stressed about money, compared to 41% of men who feel the same way.
Now, here’s what’s really surprising. 93% of women feel stressed about managing money. That’s almost everyone surveyed.
trend: Can you guess how many Americans have successfully retired with $1 million saved? This percentage may shock you.
What else are women aiming for?
While most women pursue financial security as their ultimate goal, they also have other things in mind, such as:
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Live the lifestyle you want (36%)
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Save enough money to retire or cut back on work (34%)
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Achieved financial independence (29%)
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Feed your family and loved ones (28%)
Can adults change the future?
Today’s adults, and those raising tomorrow’s adults, have the power to change the way our children view finances. But only if they are willing to provide the necessary knowledge and guidance.
There are two important takeaways from this study:
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53% of respondents talk to their children about how to budget and spend responsibly.
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68% of parents open a savings account, retirement account, education account, or other account for their child.
When it comes to investing, fathers (37%) are more likely to discuss this topic than mothers (29%).
With all this in mind, it’s good to know that women are taking action to improve their situation. About 80% of them have taken financial action within the past six months or plan to do so in the near future.
They don’t sit around and hope for the best.
Consulting with a financial advisor can help you better understand how to achieve all your financial goals. Our experts provide personalized advice to help you make the best short- and long-term money decisions.
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*This information is not financial advice. To make informed decisions, we recommend individual guidance from a financial advisor.
Chris Bibey has been writing about personal finance and investing for a variety of publications and financial companies for the past 15 years. He is not a licensed financial advisor, and the content herein is for informational purposes only and does not constitute, and is not intended to constitute, investment advice or investment services. While Bibey believes that the information contained herein is reliable and obtained from reliable sources, Bibey makes no representations, warranties, or guarantees, express or implied, as to the accuracy or completeness of the information. Or no promises.
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This article: New Fidelity Survey Reveals 58% of Women Aim for Financial Security as Their End Goal.
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