MANAGING YOUR MONEY |
|
|
(NAPSI)-As uncertainty swirls around the state of the economy, women are responding in peculiar ways as it relates to the people they trust to help manage their lives and financial future. This was found in a landmark study from State Farm Life Insurance Company that surveyed 1,500 women and 500 men. The study offers an in-depth look at women's attitudes toward financial security issues and what women want from their professional service providers to develop the trust that leads to a business relationship. The results were often surprising. What The Study Found The Musts of Trust Study found that while today's women are reporting high levels of confidence in handling their finances, the same women admit they are not really in control of their personal finances. In fact, according to the study, they're waiting for major life events to occur before getting a grip on their spending, saving and life insurance planning. Further, as financially assured as they claim to be, women have a trust barrier with the professionals who can help them manage their money. The study found that American women do not fully trust the advisers who can guide them through fiscal turmoil. For example, women are trusting professionals of health more than wealth: Doctors are inherently trusted by 79 percent of women, while just 36 percent of women feel the same way about their financial advisers. Thus, women are more willing to trust a doctor with their lives than a financial adviser with their money. This also means that during a time of economic uncertainty, women are going solo when they need help most. "Women are telling us that they distrust financial advisers and tend to wait for something significant to affect their lives before getting a hold of their finances," said Susan Waring, executive vice president and chief administrative officer of State Farm Life Insurance Company. For the complete results of the Musts of Trust Study, visit www.statefarm.com. A study found that women were confident about their finances, but wary when forming relationships with financial advisers. |
Word Count: 343 |
Share this article: 
