Women have broken many a glass ceiling — be it making crucial decisions to spearhead a ministry or a company in an individual capacity. But when it comes to investment decisions, a majority still apparently fear to rely on independent judgement and seek professional or family members’ guidance. As high as 67% women claimed to have consulted their spouses in this regard, revealed the DSP Winvestor Pulse 2022 study. In the case of men, the figure stands much lower at 48%.
The study found that a much higher proportion of men (40%) as compared to women (27%) take entirely independent investment decisions (without even consulting a professional advisor). More than double the percentage of men (26%) said they consulted their fathers for making investment decisions than women (10%).
The survey also uncovered that husbands play a bigger role in introducing women to investing than their fathers. On the other hand, most men claimed to be self-taught investors. A larger percentage of men also claimed they were introduced to investments by their fathers (15% for men vs 12% for women), friends & social circle (18% for men & 11% for women).
Nearly 2 out of 3 men take investment decisions largely independently, but only a minority of women do so, revealed the DSP Winvestor study.
Nearly half (45%) of men & women in the survey said they were investing more post-Covid. Among those who said they were investing less post-Covid, both men and women cite reduced income and wanting to take lesser risk as top reasons. However, more men (28%) than women (22%) cite loss of job/ shutting of business as a reason to invest less.
The study also found that the top investment goals for men and women are largely similar — to improve the standard of living, save enough for retirement, and provide for child’s education. However, more women (45%) listed providing for their children’s education as one of their top goals than men (40%).
Aditi Kothari Desai, Vice-chairperson, DSP Investment Managers, said, “I am very positive about the rise of the woman investor tribe. I believe more women are now confident of making sound investment decisions but there is certainly a long way to go, as DSP Winvestor Pulse 2022 revealed.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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