Wealthy millennial women are more likely to defer to their husbands on investing
When it comes to managing money long-term, wealthy women are opting out of responsibility and deferring to their male partners.
Investment bank UBS polled 3,700 married women, widows, and divorcees across nine countries. All the interviewees were classified as high-net-worth individuals. The survey found that while the women were very likely to take an active role in day-to-day money management, they were much less likely to have responsibility for longterm financial planning tools like savings, investments, pension management, and insurance.
In total, 85% of the women said they managed day-to-day expenses. But only 23% said they took the lead on longterm planning, while 19% said longterm responsibilities were equally shared. The other 58% said they deferred longterm planning to their spouses. The reasons given ranged from a belief that their partner knew more about the topic, to active discouragement from their spouse to take an interest.
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