Newspaper article The Canadian Press

Lack of Confidence Keeping Women from Investing; Instead They Hold onto Cash

Newspaper article The Canadian Press

Lack of Confidence Keeping Women from Investing; Instead They Hold onto Cash

Article excerpt

Lack of confidence stops women from investing

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OTTAWA - A new report by investment firm BlackRock suggests most women lack confidence when it comes to making decisions on investing.

"We are seeing more and more women categorize themselves as savers versus investors and they're sitting on the sidelines in cash," says Karrie Van Belle, managing director at BlackRock Canada.

"Over time, cash is likely not going to get you where you need to get to for your retirement."

The BlackRock survey found that of those polled who have started saving, men have saved nearly double what women have.

"What we need to be helping women do is have a bit more confidence to take those first steps, ask those questions, get invested and understand the priority they need to put behind it," she said.

The poll found 44 per cent of women reported confidence in their financial decision-making, compared to 55 per cent of men.

As women get older, however, they gain confidence in their financial savvy and close the gap with men. …

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