While more than half of affluent women do not have interest in learning more about stock market investing, a clear majority (91%), say it is important that women be confident in their ability to invest, yet only 8% describe themselves as “extremely confident.” Forty-nine percent of women say they are “somewhat confident” in investing, and 41% say they are “not at all confident.”
“I find it so interesting nearly all of these women say confidence in investing is very important – they recognize the power of confidence but at the same time, they are ambivalent about their own confidence and a majority is not interested in learning more. These women are in households with very strong resource levels, so the next step is to be totally aware of how the market can help them and to feel in control of their efforts to invest and grow savings for retirement,” added Wimbish.
The Confidence Correlation
Confidence in investing among affluent women correlates to attitudes and choices that differ greatly from those of women who describe themselves as not confident at investing.
- A greater percentage of confident women (59%) say the stock market is the best place to grow savings over time, while 44% of those who are not confident investors agree with this. Forty-nine percent of women who are not confident in investing say the stock market is too risky for them versus 23% for the confident women.
- Seventy-three percent of confident married women say either they alone or in conjunction with their spouse make the household investment decisions versus 49% of those who describe themselves as not confident in investing.
- Two thirds (67%) of confident women say they were “taught about investing by someone” versus 39% of the not confident.
- Almost half (47%) of confident women are interested in learning more about how to invest in the stock market versus 35% of the not confident.