“Alpha women” need financial planning advice!

Sorry if this blog comes across as a little bit sexist – but woman to woman - our need for long term financial planning advice and investment confidence has never been greater.

 

Women who successfully juggle their careers with having a family and continuing to climb the employment ladder have been labelled by some as “alpha” women and by others as “financially indecisive”.

 

Other surveys suggest that working women find it easier to do the weekly shopping, and book a family holiday, than make longer term financial decisions - but oddly enough these same women usually have mortgages.

 

Frequently with both partners working some aspects of the previously recognisable “financial dominance” haven’t been fully ironed-out.

 

As a result, there is often a lack of clarity about who should benefit from the long term savings and retirement planning provisions and consequently these decisions are often delayed, or not addressed.

 

From 6 April 2016 the new single-tier State Pension will no longer take into consideration our partners’ National Insurance records. The currently available 50% of our partner’s state pension and the state widow’s pension (we receive following their death) will cease to accrue.

 

This could leave a big hole in our retirement budget that needs to be filled.

 

That said by acknowledging that women continue to make well thought out strategic decisions, on a daily basis, for both our families and the businesses we represent, isn’t it time we gave more consideration to our own financial planning needs - especially over the longer term?

 

 

Helen Wilson

Consultant

Telephone: +44 (0)20 7893 3456

Email:  getintouch [@] broadstoneltd.co.uk