There is a common saying in the financial sector – women save and men invest. There is a bucket of reasons for this and the irony is that women are more watchful of their savings then men – and their watchfulness becomes counter productive due to a lack of financial literacy. It is time women step forward and increase their net worth and bridge the huge gender retirement savings gap which is 46% (https://www.brinknews.com/the-gender-gap-in-retirement-savings-in-asean/). This means that women have 46% less savings than their male counterpart upon retirement. This is alarming because women live an average of 5 years more than man – translating to a need for higher retirement savings, which need to factor in the inflation rate. 

1.  Know the Power of Compounding Interest. Perhaps, women do not know what Einstein reportedly said “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it”.  This is a very powerful concept that women need to grasp.

2.  Financial Talk and Literacy. Women should participate and attend more chat, and gossip more about how to maximize their savings objectively. They could attend boot camps on money talk which will give them the necessary preview of specific financial constraints women faces and how best to start the journey to bridge it.

3.  Research and Options. It is critical, especially those who are analytical, to set aside a week or two to actually digest the investment dos-and-don’ts. This investment of time and research will be the foundation of your future financial wellness. There are plenty of DIY reading materials, and the best is to have a financial savvy person or a financial advisor to guide you along on the terminologies. There are only two major learning areas – risks and returns. Stay focus.

4.  Seek Women Partners.It is always good to have shared vision and values and this is extremely important as it is a long journey and you require support and sustainability. You could always find this in your clan or among your colleagues. All you need is a team of 3-5 headcount of the same age group. You can always share the cost of having professional tutoring from a competent and trusted female financial advisor.

All the above could be realized within a period of less than a month – and yet the potential benefits are extremely enriching and empowering. If you are keen do contact us to get started asap.