Despite being as optimistic as men about market performance in 2010, women continue to lag in confidence about their own investments. A recent online survey from MassMutual shows that less than one-quarter of women are confident about making their own investment decisions, compared to over 47 percent of men. The survey asked over 1,000 retirement plan participants between Nov. 15, 2009 and Jan. 15, 2010 about their attitudes toward investing. Over 75 percent of respondents said they thought the market would improve in the next year.

The survey suggests the difference in attitudes between men and women may lie in how much participants like investing in general. Overall, nearly 71 percent of participants said they enjoy learning about investments. However, over three-quarters of men said they enjoyed learning, compared with just 63 percent of women, and more men enjoy managing their investments than women (61.5 percent vs. 48.1 percent). And, women are more likely to rush through investment decisions. Over 39 percent say they spend as little time as possible on investment decisions, compared with 28 percent of men.

It seems the lack of confidence among women investors persists despite them being more likely than men to work with an advisor. Nearly 12 percent of women said they already work with a financial advisor, compared with 9.6 percent of men. Overall, though, men and women prefer to get retirement planning information from their plan providers or financial advisors.

"By an overwhelming majority, participants prefer to receive their information from their retirement plan provider and financial advisor (67% combined) than other sources," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division, and chairman and CEO of MassMutual International LLC. "It is incumbent upon providers and financial advisors in the retirement space to provide the information necessary to help both men and women make good decisions."

Instant Insights /

Retirement: Gender gap persists despite market optimism

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