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The Takeaway: What Men and Women Can Learn From One Another About Saving for Retirement
Posted By Elizabeth Nolan Brown On March 29, 2012 @ 8:35 am In Bulletin Today | No Comments
Survey Finds Gender Differences In Retirement Planning: Men are more likely than women to be enrolled in a company retirement plan, while women are more likely to feel excited and enthusiastic about retirement. These are just a few of the retirement-planning gender differences found in a new report from the BMO Retirement Institute.
The report, called “Complementary Paths to Retirement: How men and women can learn from one another,” explores the different approaches and attitudes people take toward retirement-and found gender is a strong influence. In general, women were:
There are good and bad elements to each gender’s savings styles, BMO notes. Men’s willingness to assume more risk could bring greater returns on investments. Women’s greater willingness to ask for financial advice could help them avoid costly investment mistakes.
“There are clear differences between men and women when it comes to retirement planning,” said Tina Di Vito, head of the BMO Retirement Institute. “However, by integrating the best attributes from one another, both genders can increase their prospects for a more successful retirement.”
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