INSIGHT 1: Women as the chief financial officer of their households
In economic matters, the balance of power appears to be shifting toward women.
Today, 57% of all women say they have more earning power than ever before. Almost two-thirds (60%) of women say they are the primary breadwinner in their households.
The latest study also examined how women prefer to learn about finances, the emergence of "Women of InfluenceSM," and how family dynamics are shifting women's roles with respect to money and financial planning.
As women have become more empowered in the workplace, they have also become more empowered in handling financial matters.
In fact, more than half of married women see themselves as the chief financial officer of their households – implying that husbands and partners are not as influential in financial matters as they used to be.
Two-thirds of women agree that, in general, women cannot rely on a spouse to handle the investing. Consistent with that finding, 57% of women respondents say they primarily handle major investment decisions and retirement planning themselves. And almost as many (55%) say they are the ones to research new investing or retirement ideas.