Briefly: Market concern rising among women

(October 30, 2008) Canadian women are less confident in their investments than they were a year ago, according to a survey conducted for TD Waterhouse. More than half (54%) of women said they were worried about their investments, compared to 47% last year.

“Our poll results indicate that female investor confidence has declined year-over year and that women are becoming more conservative and risk-averse,” says Patricia Lovett-Reid, senior vice-president, TD Waterhouse. “But this worry is not yet translating into greater involvement in the world of investing.”

Despite being worried about their finances, 67% of women describe themselves as detached from investing, paying little attention to the markets. Those who had a financial plan were more likely to feel successful in their finances (84%) than those who did not have a plan (48%).

“The real question for Canadian women investors is whether current economic conditions will cause them to become even more detached from the world of investing, or whether it will finally encourage them to become more engaged, to seek professional advice and to build a long-term plan,” says Lovett-Reid.

(10/30/08)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.