We commemorate Women’s Month in March. When it comes to Life Planning, women certainly have a cause to celebrate. Long gone are the days when the men were sole breadwinners and decision-makers; the women can certainly hold their own now.
Men and women may differ in their attitude towards mitigating risks. Women are often seen as being more sensitive, intuitive and thoughtful. If you possess these specific qualities, learn how to use them to your advantage as you create your Life Plan:
Use your SENSITIVITY
to recognise your needs and goals: Just as you are good at picking up on the feelings of others, it is vital that you look inwards to understand yourself better. Delve into what motivates you to spend and what inspires you to save. Be honest about your needs and wants, as that will help you prioritise your financial goals.
Use your INTUITION
to identify and mitigate your risks: Studies show that women tend to have longer life expectancies, and hence you need to factor in the risk of inflation and medical expenses. On average, women will also spend more time in retirement, signifying the urgency to grow your nest egg more aggressively.
Use your THOUGHTFULNESS
to protect what is dear to you: The financial decisions you make now can determine your future success. Splurging on a designer bag might bring you instant gratification; but doing so could compromise your monthly budget. More often than not, this sum would serve you better when you purpose it for wealth accumulation.
Being a highly personalised process, there is a pressing need to delve into the course of planning action for women. Allow our consultants to show you how it can be done with our signature 3Cs approach – let’s have a heart-to-heart talk today!
