US: Ellevest’s CEO says women are less likely to invest than men – How do people view investing?

In a recent interview, digital investment and wealth management platform for women, Ellevest’s CEO Sallie Krawcheck said, “Women are almost half as likely to invest their money as men,” referring to findings of a study undertaken by the company. This gender investing gap, Krawcheck noted, is a “huge problem” and if left unfixed, will land women in “poverty at the end of their lives.”

We explore YouGov data to see how women and men in the US view their present incomes and expenses, and their approach towards saving or investing.

According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioral consumer metrics - overall, men are more likely than women to say they are “comfortable” with their current incomes (27% vs 21%). On the other hand, women are more likely than men to say they are finding it very difficult to cope on what they're currently earning (15% vs. 12%). Equal proportions of men and women say they are coping on their present income (32% each).

Gender differences again reveal themselves when asked men and women about their investing attitudes.

For example, men are more likely than women to say they are confident about finance-related matters, data suggests.

Women in the US are more likely than men to say they find investing in stocks and shares too risky (57% vs. 51%). Just over two in five (42%) of women agree that financial matters confuse them versus 38% of men who say the same.

When it comes to making financial decisions, 27% women in the US say they “don’t make financial decisions without talking to a professional”, which reveals a clear potential audience for Ellevest. By comparison, 27% of men say the same.

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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.

Photo by Alexander Grey on Unsplash