International Women’s Day is a symbolic date in the calendar to celebrate all kinds of women in the world, to come together and honour our individual uniqueness that make us all phenomenal females. And whilst I look forward to the opportunity to surround myself with peers, business owners, female leaders at a lunch event, I am struck by the advancement of women’s achievements, the ability to forge careers whilst juggling motherhood, taking time to address mental and physical well-being whilst caring for others and striving for independence around Women’s Wealth Management and financial security.
Recent research compiled by ASIC confirmed the number of women seeking financial advice is rising. Strides towards pay equality, advancement in career opportunities, rising divorce rates and access to financial information have all attributed to women’s progress in knowledge and understanding of finances and growing wealth.
FPA chief executive Sarah Abood recently said “Australians with an active relationship with an adviser are better off in multiple ways. They suffer less financial stress, enjoy a higher quality of life, have more confidence and are more satisfied with their wealth”. Therefore, it is no surprise women are seeking to increase their financial literacy, reduce financial stress and have a solid plan to equip themselves with the financial security that receiving guidance from an adviser can provide.
It is documented that women over 50 are a growing demographic of homelessness in Australia, therefore women are taking action now to secure a wealth position that will support them through life’s uncertainties and grow funds ready for a comfortable retirement.
Some steps you can take to get on the right track with your finances are:
- Have an understanding of your expenses against your income to identify surplus cashflow that can be directed towards your goals.
- Identify life events that will need lager funding such as children’s education, annual overseas trips, or moving to a bigger home.
- Create a list of personal, life and financial goals that you would like to achieve in the short, medium and long term.
- Map out your career path and what that looks like for you, including a retirement date and the position you would need to be in to retire with confidence.
- Work with a professional financial adviser to help you put the steps in place to achieve your goals and keep you on track for the future.
It’s not only about having money to invest, but taking an holistic look at your whole life and what you want to achieve with it. At Boutique we have 2 female advisers that support all types of female clients whether married, separated or single, we have the ability to connect and cater to individual needs in a professional, female friendly manner.
Be part of this mindset shift enabling women to be part of the women’s wealth management conversation by booking in a consultation with a female adviser at Boutique today on 08 9381 8779.
Jodi Escudier is a financial adviser who helps women and families identify and reach financial goals through positive strategic advice. Over the last 8 years Jodi has worked together with clients to develop a pathway to a better financial future and secure wealth for themselves both now and as they navigate life’s everchanging demands.