The study “Savings and Future: A Gender Perspective”, shows that of the total of women surveyed, only 48% said they were saving, while of the total men, 55% said they did. Which sometimes gives them a lower capacity for savings
In the specific case of retirement
Only 28% of women surveyed declared saving for this purpose, compared to 40% of men. Basic financial concepts such as inflation, interest rate, diversification and risk are better understood by a higher percentage of men.
The age range that presents a greater number of savers worried about their retirement is from 18 to 25 years.
Why is it that women save less than men?
The study yielded important data that mention that the people of the feminine sex face different challenges regarding the saving, as much in the labor scope as in the personnel. Women tend to think of others as an extension of their daily activities for the well-being of all family members and not only of them, which sometimes gives them a lower capacity for savings.
In the case of men, the results reveal that workers and suppliers, they have greater possibilities to think about their retirement and to allocate part of their income to this end and to savings in general. On the other hand, it was found that basic financial concepts such as inflation, interest rate, diversification and risk are better understood by a higher percentage of men.
The labor and income disparity between men and women
Puts a large part of them in a situation of vulnerability and risk of poverty, as they have fewer resources to face retirement. However, the economic participation of women, as well as their empowerment in the face of financial issues, contributed to a factor of social and economic development, both for themselves and for other members of their family.