Where do single women stand on their financial life? (UBS)


When it comes to investing, 45% of single women, 28% of married women and 61% of single men believe they "know a lot about investing". Their confidence in making long-term investment decisions is even greater, with 67% of single women and 55% of married women feeling confident in their abilities; 74% of single men feel confident in this area.


Overall, single Baby Boomer (Boomer) women appear more engaged with their finances, and single Millennial women seem least engaged. Perhaps it's because single women in the younger generation feel they have more time on their side. While this may or may not be true, 59% of single Millennial women know they "should be doing more" with their finances, as compared to 47% of single Generation X (Gen X) women and 22% of single Boomers.


Retirement accounts are an area where women across generations hold different views. Of single millennials, 32% have already tapped into their retirement account, and 29% would consider doing so. Less than 10% of both Gen X (9%) and Boomers (5%) have dipped into their accounts, although 23% of Gen X and 13% of Boomers would consider it.


The importance of one's financial life time seems to become clearer with age. For example, only 28% of single Boomer women put other parts of their life ahead of finances, as compared to 38% of single Gen X women and 61% of single millennial women.


In addition, 66% of all single women believe it's helpful to discuss finances with friends, and 68% would like an online forum where women can discuss investing; for married women, the numbers are 52% and 30%, respectively.


Getting married is something 82% of single millennial women would like someday, and 79% of them expect their spouse to provide financial security. The numbers for Gen X are 48% and 57% respectively, while for Boomers, they are 21% and 48%.


For the most recent sentiment surveys, and Single point of view, 9 Apr. 2019, and the recent global UBS Investor Watch survey, "Own your worth," which found that younger women around the world are leaving investing and financial planning decisions to their spouses.


For Single point of view, UBS surveyed 883 single investors (414 women; 469 men) who have never been married from March 15 – 25, 2019. Millennials needed at least $250k in investable assets, Gen X $500K and Boomers at least $1M. Also included results from the Own Your Worth Investor Watch report, which included 632 married women with at least $1M in investable assets for comparison purposes where applicable. Qualitative interviews were conducted with 32 single men and women.


Main contributor: Louise Bylicki