Women Likely to Ask for Advice

February 11, 2002 (PLANSPONSOR.com) - Women are more likely than men to be nervous about their retirement plans, a new Canadian survey says.

According to the 11th annual RRSP Poll sponsored by RBC Financial Group, nearly 40% of women are also more inclined now than in the past to look for professional advice, compared to 25% of men.

Survey results also show that:

  • a little over a third of Canadian women said they were afraid their retirement savings will be inadequate, compared to 28% of men,
  • three-fifths said they haven’t yet figured out how much money they’ll need to retire comfortably,
  • almost half feel they need to make a more determined effort to live within a budget, compared to 37% of men, and
  • half the sample worry about how quickly things can change, versus 35% of men

The poll was conducted by Ipsos-Reid by telephone between November 1 and November 26, 2001. The poll is based on a randomly selected sample of 1,200 Canadians, 18 years of age or older.