Female healthcare professionals not confident in personal investing, study shows

The majority of female healthcare professionals (80 percent) feel "they work harder for their money than their money works for them," according to a study from Fidelity Investments.

Women generally save at a higher rate than men, yet many female healthcare professionals remain doubtful about their abilities to invest and manage their finances, according to the report. Specifically, the study included the following key points.

  • Fifty-one percent of women in healthcare are not confident in choosing where to invest, versus 34 percent of men.
  • Women chalked this up to a lack of time to dedicate to finances (43 percent), a lack of experience with finances (41 percent) and a lack of research (39 percent).
  • Fifty-one percent of female healthcare professionals worry they have not saved enough to last through retirement.
  • Thirty-nine percent feel unconfident in investing for retirement, compared to 29 percent of men.
  • Most women respondents (92 percent) said they want to learn more about financial planning in the next year.
  • Sixty percent have passed up the opportunity for financial guidance.
  • Eighty-two percent would seek guidance from a professional in the future.

Fidelity suggested employers revamp the retirement guidance programs offered in the workplace so more women are motivated to take advantage of them.

Results are based on interviews with 446 women who are employed in or retired from healthcare and have a retirement plan.

 

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