Financial Planning Guidance for Women: Navigating Unique Challenges

Despite strides towards equality, women still face distinct challenges in managing finances and planning for the future compared to men. These challenges include the gender pay gap, career breaks for maternity or caregiving, longer life expectancies, and a different approach to investment risks.

Addressing the Unique Financial Journey for Women:

  • The Gender Pay Gap: In Ireland, women earn an average of 14% less than men, affecting their savings and investment potential over their careers.
  • Maternity Leave and Flexible Working: Women are more likely to take career breaks or reduce working hours, impacting career progression and financial stability.
  • Longer Life Expectancy: Women live longer but often retire earlier, leading to a greater need for retirement savings despite having less due to career breaks and lower pay.
  • Risk Aversion in Investing: Many women adopt a conservative investment strategy, focusing on security over higher potential returns, which can limit long-term wealth accumulation.
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