Financial Planning for Women

Why Do You Need To Be In Control?

~ The average female in Singapore earns half a grand less than the S$2,000 that an average man is drawing.
~ A woman's average working tenure with a company is 9 years shorter than the average man's tenure of 29.5 years.
~ There is 10% less working women in managerial, professional, and technical roles as compared to men.
~ Women live half a decade more than men
~ Divorce rate has been on the rise year after year

More women are and will be facing widowhood or divorce. Those who are depending on their partners to fill the gap of a lesser income may eventually fail to meet their personal financial goals such as to retire in comfort.

 

Planning as a single woman

~ Less dependents means the need for more disability and medical insurance, less life insurance
~ Less income and longer lifespan means you should start accumulating for retirement early. Don't just leave money in the bank-you might end up with less than you think you have because inflation will erode your purchasing power away. Instead, set up a financial plan that aligns your investment needs with your goal to plan for your retirement
~ Invest in yourself. You are your greatest asset. Take up courses and develop skills to increase your earning ability
~ While it is everyone's dream to live in a posh condominium or a resplendent terrace house, you need to carefully do your sums before committing to it. Assume a lower rate of growth for any property investment. In light of an aging population and government policies, capital gains and rental income are likely to be dismal.

 
Your Personal Financial Plan

Whether you are a single or married, a financial plan will help you to build up enough funds for you to achieve your personal goals. The plan will also put in place measures to ensure that your dreams and goals will not be dashed should any unexpected events occur. With a plan in place, you can make financial decisions with confidence as you will know the impact of each major decision on other areas of your financial health.

Start planning early in partnership with your licensed adviser; you'll never be alone in attaining your financial goals.
 

Disclaimer and Copyright
 
home about ipac ipac testimonials resource centre events contact us sitemap
copyright © 2005 ipac. all rights reserved.