August 12, 2020         
Macy’s, Inc. To Report Second Quarter Results on September 2   •   Rudy, Exelrod, Zieff & Lowe: Former COO of Pinterest Francoise Brougher Alleges Gender Discrimination and Retaliation at the   •   New Survey by Force of Nature Reveals Significant Concern About the Safety of Cleaning Chemicals Being Used During the Pandemic   •   Camtrade Footwear Announces Company Name Change to The Enjoiya Group   •   MadaLuxe Group Sees 500% E-Commerce Growth During Pandemic, Driven by Luxury Eyewear and Watches   •   Women's Excellence Offers Non-Surgical Treatment for Vaginal Dryness and Painful Intercourse   •   Shondaland Audio and iHeartMedia Release New Original Podcasts and Announce Upcoming Lineup   •   /C O R R E C T I O N from Source -- Royal Canadian Mounted Police Media Relations and Issues Management/   •   Child Welfare Activist Laura Formentini Announces New Book About Positive Transformation of Once-Sponsored Children, Endorsed by   •   Michelin Challenge Design Becomes Movin'On Challenge Design   •   Rachel Wegner's newly released "Uniquely You" tells of the matchless surprises of being unique and special   •   Economic Uncertainty and Food Instability in Nigeria Propel Alight to Engage with Unexpected Partners   •   Tennessee’s First Legal Moonshine Distillery Celebrates 10th Anniversary With Release of ‘Ole Smoky® 153 Moonshi   •   Medical Guardian Announces Expansion of Its Newest Division – MG Healthcare – Representing the Company's Growth into   •   Molina Healthcare Announces “The MolinaCares Accord,” With a $150 Million Initial Funding Commitment   •   Advanced Intelligence LLC Releases Revolutionary Threat Prevention & Loss Avoidance Platform   •   Alabama Destinations Career Academy Ready for the New School Year   •   Mercy Medical Center Recognized as 5-Star Recipient for Gynecologic Procedures and Vaginal Delivery for 3rd Consecutive Year   •   It’s Lyme Disease Season: ‘Be on Guard and Get Tested’ Says Leading Health Solutions Developer Quidel Corporat   •   HJFMRI Receives Grant to Research COVID-19 Impact on Pregnant Women and Newborns
Bookmark and Share

New UBS report reveals that joint financial participation is the key to gender equality

NEW YORK , July 06 /Businesswire/ - According to UBS Global Wealth Management’s latest Own Your Worth report, 74% of men and 82% of women see joint participation in long-term financial decisions as a necessary step to create gender equality. The report, which surveyed 1,825 high-net-worth investors in the US, found that a significant majority believe equal participation helps women to feel financially secure, avoid future financial surprises, and feel more secure about leaving bad relationships.

Yet nearly half of women (49%) defer to their spouses, with millennials most likely to do so. Women cite a variety of reasons, from a lack of confidence to a desire to keep the peace, to entrenched roles—a dynamic further complicated by COVID-19.

"With the important focus on gender equality, it's surprising that more women—particularly younger women—don't participate equally in decisions that will impact their future so profoundly," said Paula Polito, Divisional Vice Chairwoman of UBS Global Wealth Management. "The pandemic made clear the inextricable link between health and wealth, and women are paying more attention to their financial well-being as a result. Hopefully, this awareness will lead women to engage more meaningfully in their financial wellness."

The pandemic has reinforced traditional gender stereotypes between men and women

Amid the pandemic lockdowns, most women took the lead on domestic duties, such as homeschooling (64%) and childcare (60%). Most men took the lead on yard work (58%) and managing finances (71%).

As a result of the pandemic, however, women are increasingly focused on their financial future, with over 80% wanting to protect themselves and their families more than ever before. Yet, there is a gap between intentions and actions. One third of women have reviewed their financial situation, while 40% are considering it, but have yet to do so.

While single millennial women intend to participate equally in financial decisions, once married they defer to their spouses

The vast majority of single millennial women (88%) envision participating equally in long-term financial decisions with their spouses or taking the lead after marriage. However, once they are married, millennial women are more likely than other generations to defer to their spouses on long-term financial decisions (54% of millennials vs. 39% of boomers).

Millennial women cited a number of reasons they defer to their spouses, including that they “have no idea where to begin,” their “spouse knows more about finances,” or they are “focused on other tasks.” Six in 10 (58%) admit they simply want to be taken care of.

This report was featured in a recent webcast on women and the path to financial independence hosted by UBS's Paula Polito, with moderator Tina Brown, and speakers Billie-Jean King, Lisa Leslie, Paulina Porizkova and others. Watch a replay of the full event here: https://www.ubs.com/microsites/client-segments/en/own-your-worth/home.html.

Notes to Editors

About the report

For this publication, UBS surveyed 1,825 investors (906 women and 919 men) from January 8 – February 28, 2020. Those between ages 25-30 had at least $250k in investable assets, those 31-39 had at least $500k in investable assets and those 40 and older had at least $1M in investable assets. Data from 50 same-sex married women has also been included. All data included in this report is based on UBS proprietary research unless otherwise noted.

About UBS Global Wealth Management

As the world's largest wealth manager, UBS Global Wealth Management provides comprehensive advice, solutions and services to wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated set of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending and institutional and corporate financial advice.

© UBS 2020. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS.


STORY TAGS: United States, North America, Webcast, Product/Service, Survey, New York, Finance, Women, Consumer, Professional Services, Men,

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News