Why do women need financial planning?
Studies show women typically earn less over their lifetime than men and subsequently retire with less money.
This can be attributed to a myriad of factors like gender pay gaps in certain industries, or simply the fact that women take breaks from the workforce to start a family. There’s also the ‘pink tax’ where women tend to pay more for products tailored to them like health and beauty, or sanitary products.
On top of that, women are also generally more cautious and risk-averse when choosing investment options, which means they either tend to invest less or later in life, thereby reducing their yield potential. That’s why financial planning for women matters most.