In this modern age of enlightenment and education, most women are financially savvy. Women want to take care of themselves when they retire. Even more so with many women being divorced or widowed when they reach retirement age.

Then why is investing still a male dominated activity? 

A recent survey suggests that only 48% of women invest compared to 66% of men. *

Reasons why women are not investing could include:

•    Women are still more cautious than men when it comes to investing – they are more likely to keep their cash in a savings account.
•    From an early age, many women are directed more towards saving and budgeting whilst men towards investing and wealth building.
•    Gender pay gap – Women earn less than men in similar positions and thus have less to invest.
•    Women are put off by the technical language of financial advice.
•    Women also have gaps in their income when they take time off to raise children or care for ill family members.
•    Women are generally more cautious and hesitate or delay investing.

Women could potentially be losing out on good returns by not channelling their savings into investment vehicles that earn higher interest whilst keeping the risk factor low.

It is vital to have a meeting with a financial advisor to get your investments going. Time is needed to let compound interest work its magic. [email protected]
*nerdwallet.com

 

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere advisor for a personal consultation.
* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.