New research looks at single woman and finances

Money (MGN)

Recent analysis of more than eight million Fidelity clients found that last year, women tended to both save more and outperform their male counterparts when it comes to generating a return on their investments. But additional research shows that many women still hold back from taking steps to invest their savings, often underestimating their strengths and abilities as investors, a perspective that needs to change.

A new study from Fidelity looks more closely at the growing demographic of single women, how they view and address their finances today, and areas for improvement for their future.

Among the key findings: single women are less likely to consider themselves knowledgeable about financial topics than other demographics; they’re less likely to have key financial safeguards in place like a comprehensive financial plan, emergency fund or will; and they report keeping a significant portion of their savings in cash rather than investing it, which means they may be missing out on potential growth.

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