If you’re single…
Life expectancy for women is 83 years of age. However more recent figures suggest 89 for women and technology experts are suggesting that we could live until we are 100. Living this long requires money to have “FUN”, to take care of bills, health costs, holidays and whatever is important to you. How long can your “pot of money” last?
This can happen due to outliving their spouse, remaining single, or through divorce.
Women have progressed further up the hierarchy – female board members, female management/executives, women running their own businesses, even a female premier and prime minister.
Women are now able to build wealth earlier – by planning earlier you have the opportunity to achieve the goals that are important to you – whether it is your own home, buying shoes, going on holidays, treating yourself to a cosmopolitan or two, and prepare for your future.
What are some of the issues?
Women are marrying later in life – if at all. If they do marry and have children, they still tend to be the primary carer.
Spending time out of the workforce can mean, reduced earnings which eventually leads to:
- Less savings
- Less superannuation
- Less able to cope with a financial setback
How do you have money for now and your future?
Are you running your own business?
- Is that business in an entity or in your own name
- Are your personal assets exposed by your business
- Have you thought about succession planning for your business
- If you own business premises – what entity owns the premises
- Is the premises owned by the most tax effective entity
- Are you monitoring your superannuation
- Do you have your own self managed super fund
If you are an employee
- Do you have the most tax effective salary package?
- Are you earning tax effective investment income?
- Are you earning interest and paying tax at the highest marginal rate on that interest?
- Are you monitoring your superannuation?
Women need to create their own financial security.
A man is not a financial plan!
For a confidential consultation please contact us.