Why more women say they are savers, not investors

OTTAWA -- A new report by investment firm BlackRock suggests most women lack confidence when it comes to making decisions on investing.

See Full Article

"We are seeing more and more women categorize themselves as savers versus investors and they're sitting on the sidelines in cash," says Karrie Van Belle, managing director at BlackRock Canada.

"Over time, cash is likely not going to get you where you need to get to for your retirement."

The BlackRock survey found that of those polled who have started saving, men have saved nearly double what women have.

"What we need to be helping women do is have a bit more confidence to take those first steps, ask those questions, get invested and understand the priority they need to put behind it," she said.

The poll found 44 per cent of women reported confidence in their financial decision-making, compared to 55 per cent of men.

As women get older, however, they gain confidence in their financial savvy and close the gap with men. By the time are in the 65-74 bracket, 67 per cent of women are confident in their investing decisions while 68 per cent of men are.

The survey found 78 per cent of women identified themselves as savers compared with 22 per cent who thought of themselves as investors.

It also found that 63 per cent of women stated they are "not knowledgeable about investments." Women were also more likely than men to agree with the statement that they needed more information before they were willing to invest.

The results were based on BlackRock's Global Investor Pulse online survey that interviewed more than 31,100 respondents around the world, including 2,000 in Canada between July and August 2015.

The polling industry's professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.



Advertisements

Latest Economic News

  • Cooling measures already affecting hot Toronto housing market: survey

    Economic CTV News
    The recent intervention by the Ontario government to cool the Toronto-area’s hot housing market is already having an impact on sellers and buyers plans for the year, according to a new poll. At the end of April, Ont. Source
  • Why is the American teen summer job disappearing? [Video]

    Economic Toronto Sun
    WASHINGTON — It was at Oregon’s Timberline Lodge, later known as a setting in the horror movie “The Shining,” where Patrick Doyle earned his first real paycheque. He was a busboy. The job didn’t pay much. But Doyle quickly learned lessons that served him for years as he rose to become the CEO of Domino’s, the pizza delivery giant: Source
  • Waiting for a Canadian housing crash? Warren Buffet bets against it buying 38% stake in Home Capital Group Inc.

    Economic Toronto Sun
    Warren Buffett's deal to back Home Capital Group Inc. does more than support a struggling mortgage lender -- it's a vote of confidence for a housing market that everyone from investors to global ratings companies say is a bubble ready to burst. Source
  • CIBC looks to generate quarter of earnings from U.S.

    Economic CBC News
    CIBC closed its acquisition of Chicago-based PrivateBancorp on Friday, securing its foothold in the U.S. where CEO Victor Dodig said the bank hopes to one day generate a quarter of its earnings. The Canadian bank now earns roughly five per cent of its profits in the U.S. Source
  • CIBC closes acquisition of U.S.-based PrivateBancorp

    Economic CTV News
    TORONTO -- CIBC closed its acquisition of Chicago-based PrivateBancorp on Friday, securing its foothold in the U.S. where CEO Victor Dodig said the bank hopes to one day generate a quarter of its earnings. The Canadian bank (TSX:CM) now earns roughly five per cent of its profits in the U.S. Source
  • Consumer demand for debt as high as it has ever been, Equifax says

    Economic CBC News
    Canadians' appetite for debt is as insatiable as ever, a new report from credit monitoring firm Equifax says. Equifax calculates that Canadian consumers owed $1.729 trillion at the end of the first quarter, an increase of 6.9 per cent in a year. Source
  • Sears Canada store closures expected to have little impact on RioCan

    Economic CTV News
    NEW YORK -- Sears is closing another 20 stores as the ailing retailer tries to turn around its business. Real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings-- 18 Sears stores and two Kmart stores -- in a government filing Friday. Source
  • Ontario rent increases capped at 1.8 per cent next year

    Economic CTV News
    TORONTO - Landlords in Ontario will be able to increase rents up to 1.8 per cent next year, as rent controls are expanded under the Liberal government's housing plan. The annual rent increase guideline is the maximum amount a landlord can boost a tenant's rent without needing the approval of the Landlord and Tenant Board. Source
  • Norsat International investors approve takeover bid from Chinese firm

    Economic CBC News
    ?Norsat International Inc. says its securityholders have voted to approve a controversial takeover of the company by Chinese company Hytera Communications Co. Ltd. The Canadian satellite communications firm says its securityholders voted 72.53 per cent in favour of the offer of $11.50 US per share. Source
  • Cost of Muskrat Falls hydro project rises by another billion, CEO says

    Economic CTV News
    ST. JOHN'S, N.L. -- Costs for the beleaguered Muskrat Falls hydro development in Labrador are up by another $1 billion. Nalcor Energy CEO Stan Marshall says the new price tag is $12.7 billion with financing. Source