Women, Like Many People, Are Confused By Money
LatestAccording to a survey, women have more control over household finances than ever. But they’re still totally confused about money — should we really be surprised?
Michelle Nichols of Reuters reports on the Prudential Financial survey, which found that 95% of women have some say in their family’s money management, and one fourth are in charge. Their involvement with financial planning has grown by a third in the past ten years, but they haven’t gotten more confident about money management in that time — and in fact, the recession has made them less so. Thirty-eight percent didn’t understand stocks, 53% couldn’t comprehend annuities, and 70% wished they got better advice. Says Prudential senior VP Joan Cleveland, many women feel “there’s no one I can trust.”