Men and women have distinct approaches to financial management, according to a new survey from Charles Schwab.
On Friday Charles Schwab announced that a recent retirement advice survey found that in investors 50 and older, 47% of men trust only themselves to make the right financial decisions, compared to 32% of women. Meanwhile, 29% of men will say they’ve made more financial mistakes than smart financial decisions, while 20% of women will say the same. At the same time, 35% of men and 28% of women say they still have a lot to learn about managing their finances successfully. According to the survey, 30% of women will turn to friends or family members for financial advice, while only 17% of men will. Forty-four percent of women say they are taking a passive approach versus 37% of men.
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