NEW YORK (8/27/13)--The Credit Union National Association's Women's Financial Survey led off a story Sunday on MainStreet.com
about "The One Thing You Shouldn't Do When Investing for Retirement."
"While a new study disclosed that women's most important financial concern is saving for retirement, investors pulled almost $1.2 billion from U.S. equity exchange-traded funds since Friday Aug. 9, according to Bloomberg
data," the article starts.
It reiterates some of the key findings of CUNA's survey and quotes Paul Gentile, CUNA executive vice president of strategic communications and engagement, analyzing these numbers:
45% of women use 401(k)s, nearly 39% use pension plans and 40% own multiple retirement plans; and
51.2% are not confident in their financial ability despite the fact that 38% of married female respondents manage the household finances and 46% co-manage them.
Gentile noted that the message is getting out there that time is one of the most important aspects of retirement savings and the sooner women start, the better.
The article also provided advice by multi-millionaire investor Vince Stanzione, who said women may miss out on potential returns if they aren't investing in the stock market. For the full article, use the link.