The Associated Broker Quarter 3 / 2013 The Golden Girls For a variety of reasons, women are often at a greater risk than men when it comes to achieving a secure retirement. It is important to do all you can to educate yourself about your options and what you can do to take charge of your financial future. A survey has discovered that South African women show a shocking lack of awareness Garth Hollins 082 576 3886 and foresight when it comes to retirement planning and could condemn many to a
[email protected] poverty-stricken retirement. Gary Wilson 084 527 5617
[email protected] So says the results of an online survey which their retirement will be much more expensive was conducted via Fin24 in April 2013 on than for their male counterparts. Diane Holdsworth 078 445 5419 behalf of the deVere Group. Women tend to outlive their husbands. Only
[email protected] The study showed that women represent less one-third of women over sixty-five are mar- than 25% of the retirement planning sector in ried, and on average women will survive their Shona Pedlar 071 891 7473 South Africa, with over half of those surveyed husbands by fifteen years.
[email protected] relying on once-yearly communication with The combination of being on their own and their financial adviser and nearly a quarter living longer means that women need far Principal Advisor “never” communicating with them. more retirement capital than do most men. Garth Hollins The results for women in the 51-60 age Unfortunately, women’s pension plans just bracket, many of whom are on the cusp of don’t measure up.