Modern Woman Retirement Planning
Today, women all over the world are having to fight for what they have, sometimes, having to value their independence as much as their family.
You work hard. But why work so hard without the promise of being able to enjoy yourself in the decades to come? Nowadays, women work hard to make a respectable place for themselves within society, but towards the end, nothing really guarantees women the opportunity to sit back and enjoy life. Nothing except a sought-out retirement plan.
While there is nothing wrong with relishing in your current needs, we wish to give your income a purpose by helping you plan your future financial freedom.
Reevaluate today’s preferential playing field
Take a second to imagine a world in which there were equal chances for women to get into management positions at multinational firms; a world in which women had equal shares of responsibilities as caregivers within their homes.
Unfortunately, this is not the world we live in, and there are a number of challenges the modern woman around the world faces daily some being:
- Unequal pay
- Navigating a career and motherhood
- A lack of respect towards caregiving
- Unequal opportunities in the workforce
According to the UN, a woman earns roughly 77 cents for every dollar earned by a man- this gap only widens for black and Latina women. In Singapore, women earn S$640,000 less than men over a 40-year career. This is just the tip of the iceberg as to how modern-day women suffer from a lifetime of inequality. Consider the irony, more women go to college than men and graduate with higher grades, but unequal pay sometimes makes it difficult for them to pay off student loans. Also, navigating a career with minimum wage or unequal pay makes it difficult to support a child, especially for single-parent women. Many women nowadays are also caregivers (for parents, children, spouses, etc.). For them, that is like holding two full-time jobs.
This is especially true for Singaporean women who are still expected to take on the primary role at home. The double shift of working a job and being responsible for household tasks causes massive disproportionality to women’s quality of life and reduces their full potential in both arenas. The added domestic burden to Singaporean women makes them leave the workforce or reduce their total hours to part-time work. In 2017, 63.8% of women accounted for part-time labour, while men made up only a shocking 36.2%.
While the Women’s Charter has helped protect women in Singapore by extending them marital rights in an effort to equalize their stance in society, it is not enough. In recent years, the rate of Singapore women within the labor force has been stagnant at around 60%, placing the Republic’s female-male ratio behind other advanced economies. Singapore has acknowledged this as an issue and works on equalizing the playing field through political and corporate involvement by initiating societal progress. These can be equal maternal and paternal leave regulations, government-supplied care centers to motivate women to pursue a career, implementation of flexible working hours…etc.
However, addressing this societal imbalance and rectifying it can also come from women themselves. Gaining a sense of empowerment is key when wanting to overcome societal bias, and your finances are a big part of this empowerment. How can you be expected to take command of your future and be empowered by relying on someone else for your basic needs? Money is like fuel, and no one should rely on someone else to give them fuel to go places – you need to know how to gas up by yourself.
When you can purchase your own things and freely decide how to spend your income, you are truly empowered. Of course, this means you must manage your finances and ensure you are getting the most out of what you’ve got both in the present and long run. While saving is a good habit, be savvy and start learning about investing to really make your money work for you.
Never forget, if you’re not happy right now, do something about it. You have the right to the same social status as men both in your personal and work life. Now, let’s use the investment to try to buy you back time and security.
Plan the perfect exit strategy
Do you ever envision what your life will look like in a few years? Want to kick back and relax while overlooking the crystal blue Aegean sea? Do you see yourself strolling through Paris’s romantic streets or Rome’s breathtaking ruins? Learning a new language? Sit back and ask yourself what you can really get out of those years, and what you need to set aside to achieve that. Because you can achieve it, and we’ll get you there.
We’re set on getting you the most out of what you’ve gained. No matter what your marital status is or where you are in life, you should always strive to be as self-sufficient as you are now. Especially in today’s uncertain times. Estate planning is one way to plan for the unplanned- but not the only way.
We plan on providing you with a purpose for the profit you’ve earned, and to do so, we take a holistic approach to investment. While real estate investment can promise a secure lifestyle by building a property portfolio, this form of securing your future might not be enough. Diversifying income streams can also include savings and investments in the form of trusts and stocks.
Get more bang for your buck
Nothing is ever truly certain, but it is clear that gender inequality is a ruling factor as to why it is imperative for women to think ahead. On average, women live longer than men, work fewer years and earn less than men. Modern women must therefore focus on their unique concerns when planning for retirement by learning how to empower themselves through their finances. Learn how to invest and get a kick-start in taking command of your future adventures as an independent woman. While you can wait for the change to happen, why not simply take the reins and steer yourself into a brighter future? There are many ways to get started planning your future such as: have multiple income flows, avoiding bad debts, setting aside emergency funds, and much more.
Seek advice from financial planning professionals who can manage your portfolio and provide alternative perspectives in terms of ways of achieving your future goals.
We have been entrusted with people’s futures, and as a return for this trust, we give back as much as possible.
What to find out more? Drop me a message and we can talk about it…