Work-life balance, home ownership, travel among top goals for women: survey | Personal Finance

Work-life balance, property ownership, health, financial security and travel are among the top ten goals for women, revealed a survey by Bajaj Allianz Life Insurance. 

The ‘ Life Goals Preparedness’ survey observed more than 2X increase in the average number of life goals of Indian women across both metros and non-metros, slightly higher than men. An overwhelming 86 per cent of respondents prioritized work-life balance, followed by children’s education, owning a dream home, health, fitness and travel goals. 

Life Goals Categories with biggest increase in 2023

The study revealed that providing financial security for family is the top life goal, with 71 per cent women prioritizing it. The findings also state that 46 per cent of women express uncertainty about realizing their life goals, an increase from 39 per cent in 2019, suggesting a confidence gap that is wider than that observed in men. 49 per cent of women seek detailed expert advice for financial planning. 

Top life goals of women across various categories

•Providing financial security for the family remains the # 1 life goal of Women in 2023

•Work-life balance, health and travel remain among the top 10 goals

•62% of Women want to live a peaceful life and over 42% want to have a good work-life balance

•Personal fitness along with travel goals have gained significance in Women’s priority list

•To provide for children’s education – 3 in 5 Women have this Goal

•Dream Home – More than 1 in 2 Women have this Goal

•Physical and mental fitness is a Life Goal for close to 1 in 2 women in 2023

•More than 1 in 3 women want to pursue travel goals

•Life insurance is the most preferred investment option for 70% of the Life Goals

•49% of women cite the need for expert financial advice 

Survey details: 

1936 women across 13 cities including metros, Tier 1 and emerging Tier 2 cities surveyed. Cities covered: 

•North: New Delhi, Ludhiana and Bareilly

•East: Kolkata, Patna and Bhubaneswar

•West: Mumbai, Surat and Amravati

•South: Chennai, Bangalore, Madurai and Guntur

1. 
   Financial Security for Family: 53% Women say they need detailed expert advice
2. 
   55% Women need expert advice to plan towards child education Life Goal
3. 
   Close to 60% women need expert advice to plan towards retirement Life Goals

Women believe more than 50% of their Life Goals are difficult to achieve

Preferred mode of investment: 2023 vs 2019 

First Published: Mar 06 2024 | 8:50 AM IST