Confidence in online investing is another divergent factor between the sexes
TORONTO, Aug. 9, 2012 /CNW/ - Both men and women are hands-on when it comes to investing, but they differ in what keeps them interested. According to a recent RBC Direct Investing survey, the largest motivator driving women to become more involved in managing their investments is a life event (28 per cent). For men, on the other hand, it's knowing how much money they have now compared to what they will need in the future (27 per cent).
"Women tell us their engagement is rooted in the future use of the investment, such as saving for a child's education or retirement, while men are more driven by achieving the target amount they have set for themselves," said Michael MacDonald, vice-president, Strategy, RBC Direct Investing. "The key motivator for each gender differs, but both men and women recognize the importance of being knowledgeable and involved."
Equally, men and women (64 and 65 per cent respectively) say being able to plan for their future is a top benefit of being knowledgeable and involved in managing their investments. Women are more likely (52 per cent) to say that having peace of mind is another top benefit; men are more likely (38 per cent) to say that it allows them to know how close they are to achieving their goals.The RBC poll also found that confidence continues to be a divergent factor between the sexes, with less than half (47 per cent) of women agreeing that they are good investors compared to a majority (61 per cent) of men. "Confidence can be increased through practice and repetition and by establishing a plan to follow," added MacDonald. "That's why we have resources like Practice Accounts, that provide a no-risk way for investors to develop their skills, as well as tools to help them create goals, build portfolios and visualize and track their progress."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV