One area in which high income women investors are not up to speed with all other investors is in the area of future financial considerations.
Spectrem’s study High Income Women Investors shows that those women trail all other affluent investors in the areas of holding assets in a trust, owning a personal will, and in owning long-term care insurance.
The Spectrem study examined the attitudes and concerns of single women with an income of at least $200,000 and married women with a household income of at least $400,000.
Seventy-five percent of all affluent investors own a will, but only 57 percent of high income women have had a last will and testament created.
Just under one-quarter of all affluent investors have assets in the legal structure of a trust, while only 12 percent of high income women have done so. Similarly, while 27 percent of all other affluent investors have a long-term care insurance policy, only 18 percent of high income women do so.
All of this data reflects the attitudes of high income women toward the future in general. The Spectrem study shows high income women are far more concerned about the education of their children and the care of their own parents than they are of their own care.
While 62 percent of all other affluent investors admit their own health is a concern, only 52 percent of high income women feel that way. Although 51 percent of all other investors worry about having someone to care for them in their old age, only 39 percent of high income women feel that way.
Less than half of high income women admit to being concerned about spending their old age in a care facility, while 56 percent of all other affluent investors feel that way.
Looking the other direction, 47 percent of high income women admit concern over financing the education of their children, while only 25 percent of all other investors worry about that.