TheStreet’s Tracy Byrnes speaks with Paula Polito, Divisional Vice Chairperson of UBS Global Management in an in-depth discussion of a new report, ‘Building Bridges, Breaking Barriers’ published by UBS.
The latest research shows that only 20% of couples equally share in financial decision-making and 50% of women defer to their male partner when it comes to long-term financial decisions.
Watch an excerpt: How Men Impact a Woman’s Financial Well-Being, UBS Global Wealth Manager.
However, the trends are changing. “Nearly 100% of women and men believe women should be more involved in long-term financial decisions, such as investing, financial planning, and estate planning”, according to the study. In fact, 88% of men say they wish their spouse was more involved in financial decisions and almost six in 10 of these women (57%) wish to be more involved in the long-term financial decisions. Watch the video to learn more.
What is apparent from the research is that making long-term financial decisions together would increase their confidence in the future, minimize financial mistakes and reduce anxiety about money.