The Kronos Group’s Chairman Mr. Todd Laraway Remarks on Gender Differences in Retirement Planning

July 31, 2012 - PRLog -- The Kronos group a group of technical professionals, industry specialists and financial professionals committed to spanning the gap between a specific industries technical experts and the investment market based in Hong Kong and Taipei released a new report by their Chairman Mr. Todd Laraway which highlights behavioral trends among the baby boomer generation regarding retirement savings and financial planning concerns. The article notes that these concerns are equally prevalent among both men and women, due to recession-related issues. However, there is one particular difference between the two - women are less optimistic about their family savings than men. In addition, women are more open to discussing planning and financial situations than "silent fathers."

The Kronos group also recently conducted a survey that explored the differences in how baby boomer men and women approach financial conversations and support family members. The results showed more men are prepared for retirement than women, which may contribute to them also feeling more optimistic about it." These feelings of optimism are directly linked to men's ability to earn more money while women were expected to stay home to care for family and children.

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The Kronos Group’s Chairman Mr. Todd Laraway stated in the report "Women may feel less confident about finances because they have offered less in the way of solid retirement planning, but that is not the only difference that may explain the gap in approaches among genders. These women may have also started to realize the financial impact of their divorces that occurred decades ago."  The report also raises a specific difference that men are less open than women to having conversations with their children regarding financial planning.  "While fathers may have spent more time working, mothers were spending more time communicating with their children. This may explain why fathers are more likely to simply buy a child's first car, while mothers are more likely to discuss a child's ability to pay for such luxuries," went on to say Laraway.

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