Unlike men, women are not reluctant to ask for directions. That stands us in good stead when it comes to mapping out our financial futures.
It’s not just directions, women and men think differently in many ways, including when it comes to money. That’s why having financial advice tailored to women by women is so important – the very essence of the Carrick Athena ethos. With this in mind, consider these factors when planning for your financial future:
Women are generally risk averse
Sure, there are stock market aficionados among us, but according to global research over 40% of women view such investments as too risky for them. Sound familiar? It’s time to shift your thinking.
Studies repeatedly show that when women do delve into financial markets, they’re more disciplined and level-headed in terms of investing and trading – resulting in substantial long-term gains. Can’t say we’re surprised. Saving is vital but planning for the future also involves having the right mix of short and long-term investments in your portfolio – something that’s easier to achieve as part of a well-defined financial plan.
Women statistically outlive men
Considering the fact that women tend to outlive men, we need to have our own plans in place to support ourselves for the long haul. Not only should we therefore pay particular attention to retirement planning, they also need to be proactively involved in financial planning, instead of leaving it to the men in our lives – something many of us still do.
Call us jaded, but today’s independent woman also knows that “happily ever after” sometimes has a shelf life. That’s why women who suddenly find themselves alone, for whatever reason, often need a crash course in financial management. Rather be instrumental in planning your own financial future from day one. From retirement policies to life insurance to investments, debts and balance sheets, it’s time to take charge.
Managing the juggle
Career woman, mom, wife and more, most of us wear multiple hats. Keeping abreast of finances may seem like just another demand to add to an ever-growing list. We get it but unless you have a handle on your finances you won’t be able to properly fulfil any of these roles.
With the lingering gender pay gap and the mom/work juggle sometimes limiting our earning potential, we need to pay particular attention to making the most of our money – and of our futures. This is far more achievable if you have a clear and diversified financial plan in place. We’ll guide you through the process.
