More than half of single, never-married workers (57%) and divorced workers (56%) said they are not confident that they would have enough money to keep up with the high cost of living. Only 29% of married workers lacked the confidence in handling inflation.
Similarly, married women retirees are more likely to feel confident in having money to keep up with inflation. Only 22% were not confident, compared with 44% of divorced retirees and 34% of widowed women retirees.
And while the survey showed that roughly one-third of women either strongly or somewhat agree that they do not know where to turn for good financial or retirement planning advice, 45% of single, never married women are lost on where to go for financial advice.
Craig suggests that employers develop new targeted messages, methods, or materials to better reach women. He also said hep from the financial sector could be beneficial to these women, who do not know where to go for help for good financial advice.
“Financial sector companies could develop more/better relationships with women by having a diverse population of advisors, as single, never-married women, who are typically younger, are looking for advisors who are similar to them,” he said.
The 2022 survey of 2,677 Americans was conducted online in January. The survey included 1,545 workers and 1,132 retirees, ages 25 and older.