Why women need to invest more than men
When it comes to saving enough for retirement, women face barriers that are gender-specific. For example:
• On average, hourly wages for women are still lower than for men. Over time, this leads to a significant wage disparity and fewer opportunities to save.
• Women are primary care givers for children and elderly parents, resulting in more work absence and reduced earnings.
• Women, on average, live longer than men and therefore may need more retirement saving to fund a longer retirement.
• Studies show many women can lack confidence when it comes to making investment decisions.
How can women overcome these barriers and start building a sound financial future? Here are four basic rules of investing that you can follow.