The Financial Needs of Gen Y, Gen X, and Boomer Women

Using data from a 2015 analysis of our study, The Financial Needs and Attitudes of Women of Color, The American College State Farm® Center for Women and Financial Services has compiled the most critical financial needs of Generation Y, Generation X, and Baby Boomer women.

Financial Needs and Attitudes of Women of Color

A report issued by The American College State Farm® Center for Women and Financial Services seeks to explore the financial goals, challenges, and behaviors of women of color. It also highlights their level of comfort with financial management, their satisfaction with their current financial situation, and their attitudes and use of financial companies and professionals including selection characteristics such as ethnicity, gender, and age.

Women and the Risk of Disability

This interview discusses the startling results from a study on disability awareness. It is projected that one in four people currently age 20 will be forced to stop working for a considerable amount of time due to a disabling condition. However, only 26 percent of American households own disability income insurance. This report looks at this considerable protection gap and explores the level of awareness of the respondents to the incidence of disability as well as their understanding of disability insurance. In essence, the report proves the very notion that “what people don’t know can hurt them.”

Women Business Owners Research

The American College State Farm® Center for Women and Financial Services completed a study on women business owners with the objective of determining the common financial goals, concerns, and actions among female business owners. Findings indicated that small business owners often show a strong bias for financial advisors of the same gender. The study had strong implications with regard to the current makeup of the advising community and the economic benefits associated with an increased representation of female advisors within the industry. The research also revealed that while the overwhelming majority of small business owners are concerned about retirement, a third of the women and a quarter of the men surveyed have not estimated how much they are going to need when they retire. This data suggests that millions of business owners are vastly underprepared for retirement.

Barriers and Enhancers to Advisor Success

In partnership with The University of Akron and Karen Lahey, PhD, CFP®, the first set of primary research conducted by The American College State Farm® Center for Women and Financial Services focused on gender differences in the recruitment and retention of financial services producers. This statistically valid, quantitative study revealed startling insights relative to the barriers and enablers of producer success, both in absolute, as well as in gender specific terms.