Money has managed to incite yet another flare-up in the battle of the sexes. In a recent poll of wealthy individuals by SEI, an investment and fund-processing provider, men were thought to feel more stress if their wives were the primary financial decision-maker than women whose husbands were the financial decision-maker.
The stress was experienced by 20 percent of the 500-plus individuals polled. Almost a third of the female financial leads surveyed (29%) said they believe their partner feel stressed by their role in financial decision-making, while only a fraction of the males polled (14%) said they feel tension from their partner, according to the survey.
“When you’re dealing with relationships and money, stress is a given, and when a woman is the primary wealth creator the survey shows it’s even greater,” Michael Farrell, managing director for SEI Wealth Management, said in a statement.
Of the respondents feeling stress, spending and investment decisions were the most likely causes, with 58% citing spending and 34% citing investing decisions as their source of tension. Savings decisions were identified as a top source of stress by another third of those polled.
Other top sources of tension in wealthy households include income level (29%), money given to children (21%), control (21%), and giving/charity (20%). The least likely source of tension? Money given to other family members, the survey found.
The poll had more than 500 respondents representing individuals or families with more than $1 million in investable assets. It was conducted in partnership with research firm Phoenix Marketing International.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access