One out of three women in India take independent investment decisions and they are more inclined towards child-oriented goals
These are the findings from the DSP Winvestor Pulse survey. Even those women who make their own investment decisions, primarily did so due to encouragement by their husband (33%) or from their parents (24%), only 13% women said that they were forced to make their own investment decisions due to their husband’s death or divorce.
The survey also showed that husbands (40%) play a bigger role in introducing women to investing than their fathers (27%). On the other hand, 40% men were introduced to investing by their father, followed by their colleagues (35%).
When it comes to priotising investments, 39% women said they planned investments first and only then adjusted monthly expenses accordingly as compared to only 33% in case of men. What most men and women associated the word ‘money’ with, was similar: fulfilling dreams, a better life, necessity, success and better health. However, a striking association that emerged was that a large proportion of married, working women without kids associated money with ‘power’.
The survey was done in association with research agency Nielsen to understand the investment behaviour among women and men and their involvement in investment and inheritance. It covered 4,013 women and men across eight cities to understand their goals and views on money. The survey covered four metros: Mumbai, Delhi, Kolkata, Bangalore, and four non-metros—Indore, Kochi, Ludhiana and Guwahati.
The study found that the top goals for men and women are similar: child’s education, dream home, child’s marriage, debt-free life and a higher standard of living. Women are slightly more inclined towards child-oriented goals than men (two of their top three goals include child’s education & marriage: 34% & 29%, vs 31% & 26% for men).
Interestingly, 65% respondents said they started investing before they turned 25. Most respondents believed children should start taking investment decisions at an early age—while in college or when they just start working. In fact, 65% said they felt children should be taught about investing before they turn 20.
The survey found that qualifications /education level was the most important factor while choosing a financial advisor (47% among women, 50% among men). While most women and men said they will always be responsible for their children, more said they will always be responsible for their son (58%) than for their daughter (51%). Almost half (48%) of all respondents said they will advise their son and daughter differently about investing.