Women’s Time Research

Introduction

The "Women’s Time Research" survey aimed to understand how women with significant investable assets allocate their time across various activities and how their wealth influences their available time. The study also sought to identify barriers and preferences related to time management and explore how past life changes have impacted their time constraints.

Objective

• Assess Time Allocation: Determine how women with substantial investable assets spend their time and what they wish they could do more of.
• Identify Barriers: Understand what factors are holding them back from spending time on desired activities.
• Evaluate Impact of Wealth: Explore how increases in wealth affect their time availability and personal satisfaction.
• Understand Past Changes: Examine the impact of major life changes over the past five years on their time management and priorities.

Methodology

• Demographics: Location, age, gender, zip code, investable assets, use of investment manager, and time constraints.
• Past Experiences: Relationship between wealth and available time, major life changes.
• Current & Future Time Management: Time spent on various activities, ideal time allocation, emotions related to time management, and barriers.
• Demographic Details: Marital status, household size, number of children, education, business ownership, employment situation, and wealth management.

Key Findings

• Time Constraints and Allocation:
• Time Availability: A significant portion of participants reported having limited time for personal interests and activities, despite substantial wealth.
• Desired Time Spending: Many women wished they could allocate more time to self-care, leisure activities, and family engagement.
• Barriers: Common barriers included lack of the right network, financial uncertainty, guilt, and lack of support.
• Impact of Wealth on Time:
• Wealth vs. Time: A majority indicated that as their wealth increased, they felt they had less time for personal and professional pursuits.
• Life Changes: Major life changes such as starting or adding to the family, significant health issues, and career changes impacted their time management and priorities.
• Emotional Response:
• Emotions: Participants frequently felt anxious, overwhelmed, and frustrated about their time constraints and the activities they wished to engage in.
• Ideal Time Allocation:
• Current vs. Ideal: There was a clear discrepancy between current time allocation and desired time, with participants expressing a wish to spend more time on personal interests and self-care.
• Recommendations for Improvement:
• Time Management Support: Enhanced support in the form of professional advisors and strong networks could help participants better manage their time and align it with their personal goals.
• Strategic Planning: Developing strategies to optimize time and financial resources can improve overall satisfaction and balance between personal and professional life.

Conclusion

The survey provided a comprehensive understanding of how women with significant wealth manage their time, the challenges they face, and their preferences for time allocation. The findings highlight a need for better time management support and strategic planning to help these individuals achieve a more balanced and fulfilling life. This research offers valuable insights for advisors and service providers aiming to support high-net-worth individuals in managing their time and resources effectively.