Why Financial Empowerment for Women is SO Important
Aug 24, 2022Women are at a greater risk of being single and poor in retirement - yes, that is confronting but it is real. Women are far less likely to have a financial plan for retirement than men. Financial Empowerment involves women getting a financial education and planning for their future.
Since April 2020, $13 billion has been withdrawn by more than 1.7 million women from their retirement savings.
Of those 1.7 million women, more than 300,000 women emptied their accounts, which puts them at greater risk of poverty in retirement.
Even before the last few years, in retirement, women have a greater risk of:
- Poverty
- Being single
- Living on the pension
- No investments
- No superannuation.
Women are at a far greater risk of being single and poor in retirement than men.
Findings in the Women's Budget Statement 2022-23 released by the Australian Federal Government shows that in a National Financial Capability Survey, women did not perform as well on financial literacy, with women on average scoring 60 out of 100, while men scored 76.
In addition, only 36 per cent of women have a financial plan for retirement, compared to 55 per cent of men.
This has to change!!!
I am passionate about Financial Empowerment for Women. This involves women getting a financial education and planning for their future. None of us want to end up single and poor.
Join myself and two other financially savvy women in a FREE webinar to find out about Financial Empowerment for Women. There will be a panel discussion as well as time for Q&A.
Register now it's FREE - www.FinancialEmpowermentWebinar.eventbrite.com
