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I was recently talking with a female financial advisor who is a member of Women in Insurance and Financial Services. She mentioned that by 2010, women will control 60% of the wealth in the United States. She also said jokingly that they will inherit the other 40%.
Here are several other interesting gender statistics from an Allianz study. The number of women earning more than $100,000 has quadrupled over the past 10 years, and women now make up half of all the stock market investors. But 90% of women feel somewhat or very insecure financially according to the Allianz study. 50% are worried about having insufficient funds to live comfortably after retirement.
This study also showed that women consulted the internet most, but trusted it least. Their preference is to talk to someone as opposed to reading about something. While women may feel insecure about their level of financial knowledge, they do not want to be talked down to.
The LIFE Foundation website, designed to educate and motivate the consumer, can address both the need for information and the ability to locate an agent who can guide them in completing their insurance needs and financial roadmap. All it takes is one click.
This sounds about right to me. From all the studies and statistics I’ve read about online buying behavior, it seems women buy more online than men, managing, or handling, more of the buying decisions for a family, perhaps.
In addition, with more educational resources available online including the LIFE Foundation, there are more reliable sites providing quality information, resources, and objective opinions about life insurance, and all types of insurance.
Maybe in the near future women will feel more confident buying online from higher quality sites that offer real opinions and valuable information that help them make a well-informed buying decision.