When it comes to financial preparedness, women are less likely to have a plan in place, a new study reveals.
The report, "Future of Retirement: Why Family Matters," was conducted by financial services organization HSBC and found that 54 percent of men worldwide have developed a financial plan compared to just 44 percent of women.
The survey also indicated that retirement planning decisions tend to be made by men more so than women, as 39 percent of men said they were the ones in charge of planning. In contrast, only 25 percent of women reported being the ones who made their families' retirement plans.
"Our global findings suggest a distinct gender divide on how households plan their finances," according to the report. "Men claim to exercise greater sole responsibility than women in nearly all financial decisions made in the home."
While the report's findings may be interesting and noteworthy, insurance agents should assume that spouses and insurance leads share financial responsibilities.