After more than 30 years participating in professional workplaces and earning high incomes, many Australian women are now entering a phase of wealth consolidation. Research by the National Centre for Social and Economic Modelling released in late 2013 shows women are now primary breadwinners in a quarter of Australian households.
The rise in responsibilities and assets of working women, as well as the era of uncertainty post the GFC, has led many women to become more involved as influencers and decision makers on financial matters and future lifestyle choices.
But it seems the battle hasn’t been won yet… Statistics show women are 2.5 times more likely to live in poverty in retirement. Considering the fact this gender represents 66 per cent of the population by age 85 (figure below), it means many women will find themselves on their own, at a later stage of their life, needing to make ends meet.
Single females aged 60 had the highest poverty rate of any family group in Australia at 35.8 per cent, according to last year’s Household, Income and Labour Dynamics in Australia (HILDA) survey. They were also more likely to be in poverty for six years or more.
As part of our commitment to giving back to the community, Amanda MacLean, Partner at Equitas Partners, is currently delivering a series of educational workshops to executive and professional women and to women who want to have an influence on their family’s finances, on the topic of “The Financially Empowered Woman: How to be the CFO of your life”.
If you know of or are a member of a club, professional association, or group of women, who would benefit from hearing this educational presentation for women, please contact Amanda MacLean.
Hear about and be inspired by women who, through the benefits of financial security, have been able to re-direct time, effort and money to individual passions, philanthropy and other fulfilling goals of their choice. The presentation takes approximately 60 minutes and includes:
- An overview of current trends in regards to the economy, women and finances
- A diagnostic for each person to complete to better understand their current financial situation and future goals
- Tips to be proactive in driving one’s own financial future
- Case studies providing real life examples and inspiration