Demystify long-term financial planning for women

Article by The Business Times
14 March 2022

Article on long-term financial planning for women. The journalist included findings from a Standard Chartered study that while women have a strong savings discipline (83 per cent saved at least 20 per cent of their income each month), only 36 per cent had an existing investment. It also included the findings of the OCBC Financial Wellness Index 2021 where the proportion of women with investments rose from 60 per cent in 2020 to 79 per cent in 2021. But there is still a gender investing gap, which plays a role in the wealth disparity between genders. The comments from Chuin Ting were also featured in the article, where she mentioned that women may be more willing to seek professional advice and MoneyOwl advisers may discuss legacy planning more, not just in terms of bequests but also end-of-life arrangements including a Lasting Power of Attorney, to ensure that women’s needs are taken care of as they may outlive their partner. 

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