- Posted July 17, 2012 by
This iReport is part of an assignment:
Women and the economy
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Women Are Primary Breadwinners, Whether They Like It Or Not
The results of the survey, which was significantly broadened in 2012 to include women of all income levels, larger representation of women from diverse backgrounds and comparative data on men's financial attitudes, also shows that, despite their role as breadwinners, only 20 percent of these women feel well prepared to make financial decisions, compared to 45 percent of men.
"While our past research focused on women who are primary or joint financial decision makers, this new data shows that consistent with demographic trends and reflecting the impact of the financial crisis, the majority of women today are financially responsible for generating their own and their families' income," said Susan Blount, senior vice president and general counsel, Prudential Financial. "The study shows that with women in more control than ever of their finances, they face significant challenges when it comes to financial decision making, and admit to a lack of knowledge about financial solutions that can help them."
At a time when women are taking greater responsibility for their own and their families' finances, the study shows that women earning $50,000+ have become less confident about maintaining their lifestyle in retirement since Prudential began collecting this data in 2004. Prudential's 7th biennial study of the "Financial Experiences & Behaviors Among Women" polled 1,410 American women and 604 American men between the ages of 25 and 68. A copy of the report, educational information and resources are available at www.prudential.com/women.