As we celebrate Women’s Month in March, it also serves as a timely reminder to help the lovely ladies we adore and cherish, to stay empowered and enlightened about the importance of Will Planning.
Many women choose to relegate this important aspect of financial planning to their spouse or leave it till the very last minute. In fact, women should take charge of their Will Planning matters as early as possible.
Why so? Here are some compelling reasons to consider:
Women tend to live longer than men.
According to world data from United Nations, women live on average four and a half years longer than men. In Singapore, women can expect to live four years longer than men.1
Women tend to earn less than men.
It was revealed that women in Singapore earned 6% less than their male peers in similar job roles, according to a study conducted by the Ministry of Manpower.2
Women tend to be less confident when it comes to handling financial matters.
In a poll taken by BlackRock, around 47% of women tend to seek advice from family and friends when making savings and investment decisions for the long-term, compared with 39% of men.3
It is crucial that women take an active role in managing their finances. Help the ladies in your life to protect their estate through clear Will Planning for distributing those assets in the future.
Connect with Summit Planners to know how we can assist!
Source:
1 https://www.healthxchange.sg/hormones-thyroid/wellness/why-women-live-longer-men#:~:text=According%20to%20United%20Nations%20world,four%20years%20longer%20than%20men.
3 https://www.straitstimes.com/business/invest/spore-women-less-confident-in-investing-than-men
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