Women across the world want help planning their families' finances, but they want the advice to be simple and easy to implement, according to a new survey.
More than 80% of women do not think they are saving enough for retirement and nearly half say they are dissatisfied with investment providers, banking services and insurance providers, according to the survey by Boston Consulting Group.
Women own or co-own 40% of the businesses in the United States and the number is growing at twice the rate of all businesses, according to the Boston Consulting. The survey indicates many women are coping with responsibilities in both business and at home, with 77% of respondents saying they manage their households, including most finances, and are under stress because of it.
Women now make up a workforce of more than 1 billion worldwide and earn $9.8 trillion annually, which will increase by 50% in the next few years, Boston Consulting says. "The financial services industry is missing an opportunity to understand how women want to invest and save, and has been unable to tailor products to meet their needs," say the report's authors.
The survey, which has thus far polled 12,000 women in 22 countries, is still being conducted and can be taken online at www.womenspeaworld.com, according to Boston Consulting.