My husband is an accountant for an insurance company. Numbers rule his world. I'm a journalist with a left-brain orientation. When it comes to retirement financial planning, I'm from Mars; he's from Venus.
I always thought it was just us, but a recent study by Charles Schwab reports that we're not alone. Men generally see retirement planning differently than women.
The most unsurprising thing about this survey was the news that 47 percent of men trust only themselves -- nobody else -- to make financial decisions, while only 32 percent of women said that was true. The survey also said that only 17 percent of men turned to family and friends for financial advice, while 30 percent of women avail themselves of that kind of help.
Sounds right to me -- at least that's the way it is at my house.
Other gender-related findings from the survey include:
- As long as it works. Forty-six percent of women say that as long as their investments are working well, they don't need to understand the underlying reasons for success. Fewer men -- 38 percent -- feel that way.
- Just for me. Sixty-seven percent of women want specific advice tailored to their personal situations, while 55 percent of men prefer this personal approach.
All this really means is that we have to tolerate our spouse's differing approach to retirement planning -- something I find easier to say than do.
A thank you to all the people who volunteered for the Social Security experiment I talked about yesterday. I'll be getting in touch. If you haven't responded yet, don't bother -- the slots are all filled.