Nearly half of the female adults in Taiwan are the only person in charge of household income management and disposal, but only 20 percent are satisfied with their family’s financial condition, mainly due to low income and lack of wealth management strategies, a survey by CTBC Bank Co Ltd (中國信託銀行) has found.
The survey — which polled more than 1,100 of the bank’s female clients between Dec. 4 and Dec. 15 last year — found that about 90 percent of respondents are involved in their family’s financial management.
About 47 percent of respondents said they are the only family member to have control of household wealth management, while 44 percent said they are partly in charge.
However, only 20 percent of respondents said they are satisfied with their family’s financial situation, while 64 percent feel it is acceptable and 16 percent said they are not happy with it, the survey found.
“A low or unstable family income was the most influential factor dragging down respondents’ satisfaction,” CTBC Bank, the banking unit of CTBC Financial Holding Co (中信金控), said in a statement on Thursday last week.
A lack of wealth management knowledge leading to misdirected investment was the other major problem facing female respondents, the statement said.
The survey found that 63 percent of respondents still see bank deposits as their major method of wealth management.
More than half of the respondents also purchased insurance policies and funding products, while 42 percent bought stock.
The survey found that age was a factor in financial planning over the next five years, with respondents in their 30s focusing on travel plans, while the plans of those in their 50s and 60s centered on retirement planning.
Improving their standard of living, such as buying a car, decorating their home or purchasing home appliances, remained a key factor in women’s financial planning, CTBC said.
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