By Debbie Carlson, Chicago Tribune

Whether it’s relying on a spouse to handle household finances, being afraid of doing something risky with their money or just not feeling confident, women are less likely to take an active role in investing their savings.

It’s not just older women who have taken a hands-off approach; studies by investment firms and anecdotal evidence from financial advisers said women of all ages are less likely to invest.

A study last fall from Fidelity Investments showed that only 19 percent of women said they hold primary responsibility for long-term retirement decisions, but this is up from 9 percent in 2011. Twenty-four percent of boomer women said they make primary decisions on day-to-day finance, but only 12 percent of Generation Y women said they are in charge.

This is despite another study last year from insurance firm Allianz Life, saying that “bag lady” fears — that is, ending up broke and homeless — persist whether the woman is single, married or divorced, or whether she is low-income or wealthy. According to the survey, 57 percent of women said the thought of running out of money in retirement keeps them up at night.

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