Women and Money
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Financial Independence should be Priority for all Women
Women earn more money today than any time in the past, and yet studies confirm over and over that the level of financial awareness and confidence has not improved when it comes to investing. Women tend to base their financial decision around the wellbeing of their family, rather than themselves.
It is often that women wait till their very late 40s or even 50s to start thinking about themselves, their financial future, and financial independence.
Unfortunately, women tend to take more time off work due to having children and looking after parents at later years, and that reduces their capacity to grow nest egg big enough to support themselves sufficiently in retirement.
This needs to change. You need to start taking charge of your life, your finance in order to create income and assets security to protect you especially in your later years.
Single again – but life goes on and so do you
There are two reasons why pass the age of 50 one would become single again. You either lost your partner, who passed away, or you lost your partner, because one of you had enough and made a decision to proceed with a divorce.
Those are two different situations, but both are just as painful, and both have a huge impact on your financial situation from that point on.
Divorce might be good for your sanity, bu not so good for your retirement
So-called grey-divorces are in the highest numbers in history out of any age bracket. It shows that we either are not meant to be together forever, or that we just don’t want to take someone else’s “crap” any longer. Surprisingly (or maybe not) it is women that are in majority initiating divorce proceedings.
Regardless of reasons, you might feel good about finding your new “freedom” but the divorce decision will have a huge financial impact on your retirement. Especially considering that many women do not have sufficient super, mainly due to taking time off for children or only working part-time in order to look after the family.
In many cases, women act emotionally during the divorce, and often want to hold on to “memories” of family life, such as family home, while the partner will end up with money.
Well, divorce needs to be fair, just and equal between partners, so both parties can continue their lives in the best shape possible, under the circumstances.
So, the best outcome is always achieved by collaboration between your lawyer and a specialised financial planner to ensure your life can go on with the least of disruption and heartache. and this is where I can help.
Taking charge of your life again can be life changing, empowering and uplifting and I would love to assist you to get there and reach your financial security and peace of mind in your new life.
Featured Articles
Why Financial Planning for Women Matters: Strategies for a Confident Retirement
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