New Lincoln Financial Group Study Finds More Women Are Setting Financial Goals and Could Benefit From a Financial Wellness Mindset
Company’s research also reinforces the role financial advice can play in helping women achieve financial security
“Our research shows that women are committed to creating positive outcomes, but may be focused on competing financial goals,” said
Lincoln’s study went on to reveal that women feel a sense of financial security when they have stability: living within their means, protecting against the unexpected, no debt and predictable income. In many respects, women and men are aligned in how they define financial security, but women are much more likely to say it means protection against the unexpected for themselves and their loved ones (61% of women vs. 46% of men).
“Financial products and solutions can help you achieve your financial goals, as well as make a profound difference in the lives of the people who matter most to you,” said Scanlon. “Check to see if your employer offers financial wellness tools and resources that can help you assess your particular situation and create a financial plan, one that takes basic budgeting and saving to the next level by considering every aspect of your financial life.”
Women Want Financial Advice
Financial professionals can also play an important role in financial success, especially for those seeking a greater understanding of insurance and retirement solutions designed to strengthen financial health and offer protection. According to Lincoln’s research, 71% of women are increasingly looking for and open to financial planning advice. More than a quarter of women who do not currently work with a financial professional would like to discuss the following topics:
- Retirement savings planning (33%)
- Retirement income planning (31%)
- Cash management/budgeting (29%)
- Debt management (27%)
- Insurance--life, health, disability, etc. (28%)
From increasing savings in a workplace retirement plan to protecting their paycheck in the event of an unplanned illness or injury, women can implement a variety of strategies to create a financial cushion and prioritize their long-term financial future.
“A financial professional can provide the personalized guidance that helps women become better-positioned to achieve their unique financial goals, protect their families and enjoy financial security—and that’s at the heart of financial wellness,” said Scanlon.
Visit www.lfg.com for more tools and resources.
Consumer Sentiment Tracker 2022 Methodology
The goal of this research is to gauge consumer sentiment on a variety of financial topics. Data was collected in March, April, May, June, July, September, October and
About
LCN-5538127-032223
View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005203/en/
Media:
484-583-1632
Holly.fair@lfg.com
Source: