As its #InternationalWomensDay we want to give women in our community the reasons why they should be planning their own finances. Women of any age need to be prepared for the future and to be able to walk into a room full of men and confidently put themselves into the investment game! Here are some interesting facts:
- Women on average live longer than Men – 79 years old for Men and 82 years old for Women. Which only seems right to why they need more pennies in their pocket for their future.
- Investing is risky. Women tend to use cash ISA rather than stock and share ISA like a lot of men, who reap the rewards from it! More than four in 10 (43%) women save into a Cash Isa, only nine out of every 100 women invest in a Stocks & Shares Isa. [Source: Fidelity International]
- At 65-69 the average woman’s peak pension wealth is £35,700, 1/5th men’s [Source: Chartered Insurance Institute] This research shows the downside to the long-term financial situation Women are now being put in because to issues like, the Gender Pay gap, part-time work for mothers and careers and just generally that women are not being marketed to about pensions.
- 71% of divorced people did not discuss their pension during divorce proceedings, leaving women missing out on £5bn every year. [Source: Chartered Insurance Institute]
To conclude, Women need access to financial planning for someone to assess their vulnerabilities and manage the risk. At Paul Murray Investments we are your local Financial Planners who give our clients Peace of Mind, we are SOLLA accredited and we believe in equality and diversity – Just look at our team and visit us to see for yourself!
If you wish to read the report from Chartered Insurance Insurance its right here: Securing the financial future of the next generation