Every year on March 8th, the world unites to celebrate International Women’s Day—a moment to honour women’s accomplishments, advocate against gender discrimination, and to fervently promote gender equality. It encourages us to envision a world devoid of bias, stereotypes, and discrimination.

In the realm of financial planning, where gender disparities persist, it is crucial for Financial Advisors and companies dedicated to ensuring a comfortable retirement for all to reflect on whether women consistently receive equal opportunities to achieve this goal.

Our society grapples with challenges such as a high percentage of single mothers due to absent fathers and a significant unemployment crisis, often leading to an increase in female entrepreneurs. Additionally, the financial well-being of married women can be at risk during divorce or widowhood, as they may not always be adequately provided for within the framework of the couple’s retirement plans.

Here is some constructive advice to address these realities:

Ensure Inclusive Retirement Plans

Engage in open conversations with your spouse about your joint retirement plans. Consider the potential impact on your retirement should unforeseen circumstances, such as death or divorce, alter your marital status. It is crucial to move beyond assumptions and jointly plan for a secure retirement.

Take Proactive Measures

If you are the primary breadwinner, whether working for an employer or as a business owner, make informed decisions about pension plans and tax-saving investments. For business owners, Retirement Annuities, as discussed in our previous article – RAs, the best tonic for your tax health – we are the team to talk to.

Create Financial Independence

As a sole breadwinner or unexpectedly single individual, proactively seek financial advice. Instead of resigning yourself to the belief that a secure retirement is unattainable, work with financial advisors to explore savings and investment opportunities. With the right guidance, achieving a decent retirement is within reach for everyone.

At Hereford Group , we recognize the unique financial needs of women. For over 30 years, our exponential growth stems from the belief that everyone is different, making us uniquely qualified to understand and address diverse financial requirements. We are committed to assisting women in securing solid retirement plans, and providing excellent, creative, and empathetic financial advisors. Reach out to us today, because when it comes to your financial future, Hereford Group is the right partner for your journey. 

Talk to us today about ensuring the future you aspire to and keeping you on track.