Long gone are the days when the majority of women stayed at home and kept house. We’ve seen a true social revolution over the last 50 years or so where we‘ve gone from it being unusual for women to work, to it being unusual now for women not to work.
Even if a woman takes a career break to have children, very often they return to work when the children are older. This has created a new phenomenon – women who need the advice of independent financial advisers (IFA) independently to their husbands or partners!
More and more families now rely on a woman’s ability to contribute to the family finances. Two income households are more usual today. And this means that the woman’s income can be very important to family finances, as can its loss.
And of course more and more women have chosen a career path and have opted to be single rather than have a family. Of course they too need good financial planning advice.
Financial independence is great news for women but it creates its own issues such as the requirement for protection benefits, retirement and saving issues and of course what happens on divorce. Women need to understand and plan for financial issues such as:-
Is my family protected if I die or suffer a long term illness?
What will my income in retirement be?
Have I got sufficient short and longer term savings?
What is my financial situation on divorce?
I have agreed a Pension Sharing Order what do I do next?
We offer women bespoke financial planning advice and solutions. Our female financial adviser, Lisa Davies is a highly qualified and experienced independent financial adviser (IFA).