Women still significantly lag behind men in their knowledge and confidence in virtually all areas of finance, even though the gap has narrowed since 2010, according to a report released Wednesday by Financial Finesse.
The report found that the gender gap was most prominent in investing and budgeting. Twenty-five percent of women reported feeling confident with how their investments were allocated compared with 42% of men. Significant here is a huge difference in women’s and men’s general knowledge of stocks, bonds and mutual funds: 64% and 84%, respectively.
Sixty-three percent of women said they had a handle on their cash flow versus 80% of men.
The smallest gap appeared in retirement preparedness, but both women and men are woefully unprepared, the report said. Only 12% of women and 19% of men were confident they would be able to replace 80% of their income in retirement.