21/01/2020
Why Women Should Handle Financial Planning ?
It’s time to understand the true impact of living longer, avoiding risk and prioritizing others
THE RELATIONSHIP between women and money has evolved dramatically over the last few decades, but the connection isn't as strong as it needs to be in today's world.
85% of women manage everyday expenses, but only 23% take the lead when it comes to long-term financial planning. Even though women are more proactive with everyday household finances, it is critical that they also set themselves up for financial success in the future.
Being more engaged with and vocal about finances not only increases women's confidence, but also empowers them to sustain control of their financial lives over the long term – which is especially important as women continue to live longer than men.
Here are four key things that women should know when it comes to making decisions about their money:
Longer life expectancy mean an extended retirement.
Women tend to be risk averse, missing growth opportunities.
Women often put loved ones first.
Women need to find an adviser they trust.
Nearly all women will become the sole financial decision maker in their household at some point in time. To help ensure women can comfortably navigate both short- and long-term financial goals – such as enjoying their retirement years without the fear of outliving their savings – they need to start saving and investing, early and often.
And they need to commit to communicating more openly about money. This can feel like a daunting process, but it's not something women have to do on their own.
Rakhee Nesarikar - Financial Planner
21/01/2020
21/01/2020
21/01/2020
21/01/2020
21/01/2020