C.W. Post Survey Proves
Majority of
Women are Financially Savvy
There was a time when women were told not to worry
their "pretty little heads" about finances. Times have certainly
changed and now there is a study to show just how smart women investors
really are.
More than 80% of the women polled by the Long Island Women's Institute at
the C.W. Post Campus of Long Island University said they personally read
their own financial statements and make their own financial decisions.
Dr. Roslyn Muraskin, director of the Institute, said that "while many
people leave terms like stocks, bonds and mutual funds to the investment
professional, women are proving more frequently that they speak the same
language as the experts."
The "Personal Financial Survey" which profiled 750 women who are
members of the Long Island Women's Institute found that the majority of
women track their own investments, contribute regularly to their savings
portfolios, and accept higher investment risk in return for greater financial
rewards, regardless of marital status.
The survey also shows, however, that married women are more likely to make
risky investment decisions than single or divorced women. In addition, the
more educated a woman is, the more likely she is to invest in stocks than
CDs.
Women ages 20 to 75 from various ethnic, educational and economic backgrounds
participated in the survey. Dr. Muraskin acknowledges that the survey, conducted
during the summer of 1996, only samples a particular demographic area, but
she does assert that her regional study confirms the results of the national
one.
"In today's complex economy, more women are working than ever before,"
said Pearl Kamer, Ph.D., Chief Economist for the Long Island Association.
"It is not surprisingly that they have recognized the importance of
taking charge of their own finances and planning for their financial well
being. The Long Island Women's Institute's survey confirmed that Long Island
women have become financially sophisticated and that they are able to make
intelligent investment decisions."
The survey will be included in a work tentatively titled "Her Choice:
How Women Can Make Smart Investments," written by Roslyn Muraskin,
Ph.D., associate professor of criminal justice, and Panos Mourdoukoutas,
Ph.D., associate professor of economics, both at C.W. Post.
Survey Results
30% of the respondents invest in stocks; 25% invest in mutual funds; and
22% placed their money in CDs.
45% responded that market fluctuations do not make them nervous.
65% of the women knew that stock returns have outperformed any other form
of investment in the long-run.
50% of women contribute regularly toward their financial goals.
65% of the women are satisfied with the rate of return achieved in their
portfolio.
For more information call the C.W. Post Public
Relations Office at (516) 299-2333 or e-mail cwpostpr@aurora.liunet.edu
March 1997 |
