Though women have tilted the scales of household economics, a new TD poll says they still need to invest more in their futures.
The bank says many women continue to focus primarily on handling day-to-day finances, while men are more likely to manage family investments and long-term retirement planning.
Its poll finds almost half of men (44%) are responsible for dealing with their family’s advisor, versus only 33% of women. In contrast, females are most in charge of household budgeting (49%), with only a quarter of men saying they’ve become more involved.
Read: Cater to female clients
Both genders have one thing in common, however, since all poll participants defined financial success as having enough money to cover their expenses during retirement.
To ensure their goals are considered, women need to be more involved in the implementation of any long-term plans.
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