Nearly nine-in-ten High Net Worth women are concerned about the prolonged economic downturn, compared with 81 percent of their male counterparts.
A new Spectrem’s Millionaire Corner study finds High Net Worth Women in a more anxious mood than their male counterparts regarding national economic issues.
Nearly nine-in-ten High Net Worth women are concerned about the prolonged economic downturn, compared with 81 percent of High Net Worth men. Similarly, they are more concerned about inflation (77 percent vs. 68 percent), tax increases (75 percent and 71 percent) and interest rates (56 percent vs. 48 percent). High Net Worth men and women are equally concerned about the national debt (79 percent) which is at the heart of the current debt ceiling debate .
VIDEO: We asked the average American their National concerns.
Economic inequality is an issue that continues to divide men and women, and no doubt accounts for their heightened anxiety on issues that directly impact their financial situation. In a recent Gallup poll on job satisfaction, women expressed more satisfaction than their male colleagues in seven of 13 job characteristics. Tellingly, men were more likely than women to say they are satisfied with their pay and their chances for promotion.
Earlier this year, marked the 50th anniversary of the Equal Pay Act, signed into law by President John F. Kennedy to abolish wage discrimination. A frequently cited and oft-debated statistic is that women earn 77 cents for every dollar a man earns. The gap is even wider for African-American and Latina women. Another study conducted by the National Partnership for Women and Families found that the median yearly pay for women employed full time is $11.084 less than men’s.This, of course, has implications for women's retirement savings. Coupled with interrupted careers to raise a family or act as caregiver, women are not as confident as men that they will have sufficient funds to maintain their economic situation.
High Net Worth women seemingly have their eye on the big economic picture, while High Net Worth men were more likely to find themselves drawn to the gamesmanship that has led to the government shutdown now in its 15th day. Eighty-five percent of men said they are concerned about the political environment vs. 80 percent of women.
Women, though, are significantly more concerned about terrorism than men, (68 percent vs. 57 percent).
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.