Women’s Financial Experiences-Survey from Prudential

Prudential has released its findings from its 8th biennial survey of women on their financial experiences and behaviors. Financial Experience & Behaviors Among Women covers 2014-2015. The foreword offers this insight

Women still have a number of identifiable financial goals, of course. High on their list: having enough money to maintain their lifestyle throughout retirement, to cover health care expenses and to reduce personal debt. They also don’t want to become a financial burden to loved ones or outlive their savings. And they define financial success as achieving a comfortable, financially secure retirement. The difference is simply that they no longer attach as high a degree of importance to these goals as they did a few years ago.

The report discusses the “confidence” of women to achieve their goals, their use of financial advisors and their understanding of financial products. Perhaps somewhat unsurprising, the foreword also mentions that “[o]ne of the biggest perceived impediments to reaching financial goals is not having enough disposable income to dedicate toward them, cited by about half of women. But they also admit to a lack of familiarity with financial products and the sense that they simply don’t know what to consider when evaluating their options.”

Page 11 of the report discusses differences between the generations. For example, the report notes that 65% of baby boomers reported confidence that they will be able to maintain their style of living through retirement.