Phillipa Healy: PIMCO and the Harris Poll have conducted a number of research studies and looking at how women are really redefining wealth.
Our research has highlighted some of the hurdles that are faced by women investors when it comes to accumulating wealth. Libby, I think it would be great to start if you could share more about what our learnings have been around women investors as this powerful economic force, and as well as some of the hurdles and opportunities that that presents.
Libby Rodney: Yeah. I think when you look at the — the research, women are really a force, right? Women control 51 percent of the wealth in the US today.
So 6 in 10 women say they wanna be rich and they're not gonna apologize for it. 1 in 3 millennials, younger women, are saying that they're gonna get 40 percent more wealth in the next five years.
So there's just these real ambitious women out there, and they're redefining how they look at wealth, it's about how does it help me pursue my life balance.
And I think that's because the way that women deal with money at home is fundamentally different.
When you look at women and men in their household, they — play different roles. So men look at their role as being really the CEO and the CFO, where women are playing multiple roles. They're playing the CEO, the CFO, the CCO, and the CCT, which is the chief caretaking officer, which has different implications to how they think about wealth in the short term and also in the long term.
Phillipa Healy: I mean it sounds like for what you're saying around lifestyle, that almost puts more of an emphasis on shorter term focuses or shorter term horizon. Christine?
Christine Long: That's exactly right, Phillipa. As Libby mentioned, there's a need to balance both the short term needs of the household, and also with an eye towards the long term goals. And so we definitely saw in the research a higher prioritization of some of the short term needs, and also a focus on more lifestyle needs like health and wellness, which is a really positive trend.
Libby Rodney: Yeah. And it's so interesting 'cause it's not only return of lifestyle, but women are actually redefining how they age as they get older as well. So when we look into our research, we see that almost 3 in 4 women say that 70 is the new 50. So that really impacts how you think about return on lifestyle, but also how you think of that as you get into retirement, right?
Christine Long: That's exactly right, Libby.
Women are living longer, healthier lives. And there's an opportunity here, especially for advisors and investment professionals who work with women investors, to really help them balance both those short and long term goals.
Phillipa Healy: Absolutely. Well that's some really interesting insights there. Thank you so much both of you for sharing those. And for anyone wanting to learn more about PIMCO's women in investing research study, please visit PIMCO's website.
Recorded 04 February 2020
The survey results contain the opinions of the respondents and not necessarily those of PIMCO. The data contained within the report may not be related to any PIMCO product or strategy and should not be relied upon for any investment decision.
In March and April 2018, we conducted expert salons in Newport Beach and New York City to capture ideas from thought leaders in women’s perspectives on investing, lifestyle and goals across media, finance and communications.
Financial Decision Maker Survey
This survey was conducted online within the United States by The Harris Poll on behalf of PIMCO from May 3 – May 16, 2018 among 1,500 U.S. adults ages 18 and older, including 748 women. All respondents had over $10,000 in investable household assets and at least some financial decision-making responsibility within the household. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. In March 2018, we also hosted 2 salon sessions to explore issues around women and investing with thought leaders, influencers and experts.
This material contains the opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.
PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This is not an offer to any person in any jurisdiction where unlawful or unauthorized. | Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, CA 92660 is regulated by the United States Securities and Exchange Commission.| PIMCO Europe Ltd (Company No. 2604517) and PIMCO Europe Ltd - Italy (Company No. 07533910969) are authorised and regulated by the Financial Conduct Authority (12 Endeavour Square, London E20 1JN) in the UK. The Italy branch is additionally regulated by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act. PIMCO Europe Ltd services are available only to professional clients as defined in the Financial Conduct Authority’s Handbook and are not available to individual investors, who should not rely on this communication. | PIMCO Deutschland GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Deutschland GmbH Italian Branch (Company No. 10005170963) and PIMCO Deutschland GmbH Spanish Branch (N.I.F. W2765338E) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 32 of the German Banking Act (KWG). The Italian Branch and Spanish Branch are additionally supervised by the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act and the Comisión Nacional del Mercado de Valores (CNMV) in accordance with obligations stipulated in articles 168 and 203 to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively. The services provided by PIMCO Deutschland GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication. | PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH-020.4.038.582-2), Brandschenkestrasse 41, 8002 Zurich, Switzerland, Tel: + 41 44 512 49 10. The services provided by PIMCO (Schweiz) GmbH are not available to individual investors, who should not rely on this communication but contact their financial adviser. | PIMCO Asia Pte Ltd (Registration No. 199804652K) is regulated by the Monetary Authority of Singapore as a holder of a capital markets services licence and an exempt financial adviser. The asset management services and investment products are not available to persons where provision of such services and products is unauthorised. | PIMCO Asia Limited is licensed by the Securities and Futures Commission for Types 1, 4 and 9 regulated activities under the Securities and Futures Ordinance. The asset management services and investment products are not available to persons where provision of such services and products is unauthorised. | PIMCO Australia Pty Ltd ABN 54 084 280 508, AFSL 246862. This publication has been prepared without taking into account the objectives, financial situation or needs of investors. Before making an investment decision, investors should obtain professional advice and consider whether the information contained herein is appropriate having regard to their objectives, financial situation and needs. | PIMCO Japan Ltd, Financial Instruments Business Registration Number is Director of Kanto Local Finance Bureau (Financial Instruments Firm) No. 382. PIMCO Japan Ltd is a member of Japan Investment Advisers Association and The Investment Trusts Association, Japan. All investments contain risk. There is no guarantee that the principal amount of the investment will be preserved, or that a certain return will be realized; the investment could suffer a loss. All profits and losses incur to the investor. The amounts, maximum amounts and calculation methodologies of each type of fee and expense and their total amounts will vary depending on the investment strategy, the status of investment performance, period of management and outstanding balance of assets and thus such fees and expenses cannot be set forth herein. | PIMCO Taiwan Limited is managed and operated independently. The reference number of business license of the company approved by the competent authority is (107) FSC SICE Reg. No.001. 40F., No.68, Sec. 5, Zhongxiao E. Rd., Xinyi Dist., Taipei City 110, Taiwan (R.O.C.), Tel: +886 2 8729-5500. | PIMCO Canada Corp. (199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2) services and products may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose. | PIMCO Latin America Av. Brigadeiro Faria Lima 3477, Torre A, 5° andar São Paulo, Brazil 04538-133. | No part of this publication may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2020, PIMCO.