E*TRADE Study Reveals the Investing Habits and Challenges of Single Women
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced insights from its most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. As part of its Diversity in Financial Services Thought Leadership series, E*TRADE examines niche investor populations to create a more inclusive environment around personal finance and break down the barriers of taboo money conversations. In conjunction with Women’s History Month, E*TRADE analyzed trends among single female investors, a segment which is expected to make up almost half of the working female population between the ages of 25–44 in the next 10 years.1 Results show:
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Retirement takes a backseat with nearly half of this population taking early withdrawals (Graphic: Business Wire)
“Many single people carry the financial burden of an entire household, which can make it difficult to prioritize and visualize long-term financial goals when you’re trying to stay above water on the day-to-day,” said Kerry McDermott, Senior Director of E*TRADE Advisor Services. “For those who are hesitant to get started, it bears repeating that it’s critical to create a foundation, however small. Over time, the power of compounding can help women build their wealth and put them on the path to financial security.”
E*TRADE aims to enhance the financial independence of traders and investors through a powerful digital offering and professional guidance.
To learn more about E*TRADE trading and investing platforms and tools, visit etrade.com.
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About the Survey
This wave of the survey was conducted from January 1 to January 10 of 2020 among an online US sample of 907 self-directed active investors, composed of 121 single female investors, who manage at least $10,000 in an online brokerage account. The survey has a margin of error of ±3.20 percent at the 95 percent confidence level. It was fielded and administered by Dynata. The panel is broken into thirds of active (trade more than once a week), swing (trade less than once a week but more than once a month), and passive (trade less than once a month). The panel is 60% male and 40% female, with an even distribution across online brokerages, geographic regions, and age bands.
Referenced Data:
In general, please rate your current interest in each of the following...
Total
Single Females
Blockchain and crypto-related securities
24%
33%
Marijuana securities
26%
35%
ESG investments
18%
29%
Real estate
43%
53%
Renewable resources
42%
52%
Payment stocks
38%
46%
I am more likely to invest abroad than domestically this quarter.
Total
Single Females
Agree (Top 2 Box)
29%
37%
Strong agree
10%
16%
Somewhat agree
19%
21%
Neither agree nor disagree
27%
30%
Somewhat disagree
29%
26%
Strongly disagree
15%
7%
Disagree (Bottom 2 Box)
44%
33%
Have you ever taken out money from an IRA or 401(k) before the age of 59.5 and, if so, for what?
Total
Single Females
No
67%
57%
Yes
33%
43%
Yes, to make a large purchase
12%
17%
Yes, because I became unemployed
11%
12%
Yes, to pay for education
8%
12%
Yes, for a medical emergency
8%
15%
Yes, to simply spend on myself or my family
6%
11%
Yes, to spend on a vacation
4%
6%
Which of the following benefits that a potential employer could provide would be the most important to you?
Total
Single Females
Retirement plans
82%
79%
Insurance other than health (e.g., life, legal, and auto)
63%
62%
Employer stock at a discount or bonus
48%
41%
Education reimbursement
34%
42%
Commuter benefits
24%
28%
Gym discounts
19%
17%
Student loan refinancing
17%
24%
Product discounts
12%
7%
About E*TRADE Financial and Important Notices
1. Morgan Stanley, “Rise of the SHEconomy,” Morgan Stanley, September 23, 2019. https://www.morganstanley.com/ideas/womens-impact-on-the-economy
Automatic Investment Plans and dollar-cost averaging do not ensure a profit or protect against a loss in declining markets.
E*TRADE Financial and its subsidiaries provide financial services including brokerage and banking products and services to retail customers. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC (Member NFA). Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Bank products and services are offered by E*TRADE Bank, and RIA custody solutions are offered by E*TRADE Savings Bank, both of which are national federal savings banks (Members FDIC). More information is available at www.etrade.com. ETFC-G
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