(ARA) – If you’re a young woman ages 25- to 34-years-old and do not have a financial plan in place, you are in good company. But a new study suggests you can buck that trend and beat the odds. However, you may have to step out of your comfort zone to do it.

Results from the fifth biennial Prudential Financial survey, “Financial Experience and Behaviors Among Women,” indicate that of the 1,250 women surveyed online, 38 percent did not understand stocks, 43 percent did not understand mutual funds and 53 percent did not understand annuities.

“While the survey suggests that the economic crisis overall has really heightened women’s recognition of their need to develop a financial plan to meet their long-term goals, only about a third of them have started down that path and that number gets even worse the younger they are,” says Joan Cleveland, senior vice president of individual life insurance for The Prudential Insurance Company of America. “While many more women are involved in financial decisions, few admit to having the confidence to move forward in any meaningful or strategic way.”

Other telling facts from the survey:

* Career interruption due to child bearing and child rearing can sideline a woman’s retirement planning goals.

* Women tend to live longer than men, resulting in a greater need for retirement savings to live on after exiting the labor force.

* Sixty-four percent of women reported seeking financial advice from friends or family rather than a financial adviser.

No matter which survey findings best fit your situation, now is the time to take control of your financial future. Here are some practical steps to help you get a better handle on your financial challenges:

* Figure out where you stand: Stop stuffing investment statements in the drawer to look at “later.” Know where your money is invested, how much debt and insurance you have, and whether a new strategy is called for. Have this information available for review.

* Meet with a financial professional. Ignorance is not bliss when it comes to your money, and family and friends are simply not qualified to give you expert advice. Ask friends and colleagues for referrals and look for someone you feel comfortable with who specializes in financial planning for women.

* Verify insurance coverage. Carefully review your life and disability insurance needs, especially if you are the primary breadwinner. Life insurance can help protect a family from the devastating loss of a wage earner. Be sure to ask your financial professional if long-term care insurance is right for you.

* Max out your 401(k). If you are a young woman, time is on your side when it comes to 401(k) savings. This is one of the easiest, smartest things you can do to help prepare for retirement, especially if your company matches contributions.

* Make a will or estate plan. Many women make the mistake of not creating a will, leaving loved ones to deal with the hassle and expense of probate court. A will leaves no doubt about what should be done in the event of death and helps protect your assets for future generations.

To learn more, go to www.prudential.com/women. The site includes helpful life-stage checklists, easy-to-understand guides to financial products and services, and first-person financial accounts that provide encouragement and support. Educating yourself and getting help when you need it is worth every bit of time and effort when it comes to attaining your financial dreams.

No matter what your age or situation, today is the day to take action. Doing so can place you in the financially-confident minority, and help put you on the road to being wealthy and wise.