Knowledge is Power

Financial inequality is an issue for too many women. Despite recent progress, women are still earning less, there are fewer women in senior positions and from the age of 25 the gap between men and women’s superannuation savings starts to grow.

Quite often a career intermission, such as having children, will greatly diminish potential retirement funds.

If a woman’s ability to earn and save during her working life is less than that of men, then it is even more important that they have access to the tools to help them make their money work harder for them.

Knowledge is Power, knowing what you need for retirement, insurance and health care is the first step to financial security.

What all women should know – a checklist

● Create an inventory of what you own and what you owe and accounts.

● Prepare or review basic planning documents

— including will, power of attorney and health care directives, to ensure that they meet current wishes.

● Gather documentation on superannuation.

● Gather documentation on your current health care/ insurance benefits.

● Insurance coverage you may have or need, including:

○ Income protection

○ Life insurance

○ Disability insurance

○ Car, home & contents insurance

● Develop a plan to pay down your current debt by a target date.

● Work out how much you need to retire and when

● Envision your specific financial goals for retirement

● Who else in your family knows how and where to locate the important documents?

● If there are gaps in your quest for future financial success, get professional advice.

Once you have this information at hand, it is easier to prepare for the retirement you want.

Graham & his Team at Blue Chip Wealth Management are available to answer any questions that you may have and help you create the retirement of your dreams. Call 02 8188 0148 or book an no obligation free consultation at www.bluechipwealth.com.au

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