Results of a new survey of American adults, released just days before Mother’s Day by
According to Penn Mutual’s fourth annual Worth survey, women see the big picture but still pay more attention to the day-to-day financial needs. Women surveyed cited retirement (42%), expenses (41%) and healthcare costs (30%) as their top financial concerns, whereas, men listed expenses (38%) and the economy (35%) and retirement (30%) as their biggest worries. While they worry about these significant savings and investing challenges, fewer women than men have a financial plan (50% vs. 61%) and are less actively involved in retirement plan goal-setting, savings and investing.
Among financial goals, both women and men say living within their means is most important (89% and 82% respectively) as are saving for emergencies and their future, yet more women feel they are behind on these goals as compared to men. Women say they feel most behind on saving or paying for their children’s or grandchildren’s college education. See Table 1 below for a complete list of fiscal goals that women claim are eluding them.
(Table 1) Penn Mutual Worth Survey Finding: Women are more likely to say they’re lagging (haven’t started or behind) on those financial goals they regard as Extremely/Very important
“We’re troubled by the survey findings that indicate women are worried about financial challenges of nearly every kind but seem only to make progress against lesser concerns,” said
The annual tracking study was conducted by Penn Mutual from
The annual survey is a key component of Penn Mutual’s Worth initiative, which offers educational resources and tools that advocate women take charge of their financial futures and consider the entirety of their value to home and family. Worth aims to advance and expand Penn Mutual’s commitment to the financial literacy of women. Mother’s Day is the perfect opportunity to remind women, who are the mainstay of the American family, to protect their full worth and plan for retirement. For more information about Worth, go to
Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through
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Read the full story at http://www.prweb.com/releases/2012/5/prweb9495461.htm
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