• by Jack Loechner , Staff Writer @mp_research, June 9, 2016

Mars/Venus, Main Street/Wall Street — the differences in characteristics and concerns between men and women are considerable, says the latest Shullman Luxury and Affluence Monthly Study, focusing on similarities and differences between men and women demographically and what their current concerns and financial goals include.

According to the report, their top three worries; their own health, their family's health, and a nest egg for retirement, converge. Their worries differ sharply only when it comes to inflation, with men's concerns 10% higher than women's.

Women are much more concerned about finances than men, with substantial differences about having enough money for daily expenses, emergencies, retirement, debt reduction and more… all of which proves, says the report, that the apron strings of yore have been replaced by purse strings today.

A look at some key demographics reveals that men are slightly more likely than women to be married, women are much more likely to be responsible for children under 18, and men are much more likely to be employed full time. There are no major differences between the sexes as regards education, race, and Hispanic origin. According to the Bureay of Census, in 2015 there were 125 million women (52%) and 117 million men (48%).

When it comes to buying power, however, a larger proportion of men than of women have incomes at the upper end of the scale, says the report. This is evident both for household income (65% of men compared with 59% of women live in households with incomes of $50,000 or more), and more especially for personal income, with about one in eight men (12%) compared with only one in 25 women (4%) having personal incomes of $100,000 or more.

Considering what they hoped to achieve during the next 12 months, worries about their own health, their family's health, and having enough money to retire comfortably ranked in the top three for both men and women. After that, inflation figured highly in the men's concerns, at 28%, fully ten percentage points above the women's 18%, while women were more worried about the economy going into recession.

Women report more financial goals than men, says the report. 63% of women (compared with half or fewer men) aim to have enough money for daily living expenses and for unexpected emergencies.

Women are also much more likely than men to aspire to have enough income for retirement, to reduce their debts, to improve their standard of living, and to provide for their children's college expenses. The top three goals among all adults are also ranked in the top three among both men and women, and the same is true for the top ten. The differences here are a matter of degree rather than substance, says the report.

For additional information about the study and the Shullman Luxury, Affluence and Wealth Pulse, please visit here.