Women focus more of their attention on immediate family and household concerns than long-term, big picture financial needs, according to a new survey by The Penn Mutual Life Insurance Company.
According to its fourth annual Worth survey, women cited retirement (42 percent), expenses (41 percent) and health care costs (30 percent) as their top financial concerns, whereas men listed expenses (38 percent), the economy (35 percent) and retirement (30 percent) as their biggest worries.
While women do worry about saving and investing, fewer women than men have a financial plan (50 percent vs. 61 percent) and are less actively involved in retirement plan goal-setting, savings and investing.
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