We interview FMD adviser, Lauren Abela, who works with busy, established professional and entrepreneurial women, passionate about life and gaining confidence around their money.
What are the greatest financial issues women face today?
Women are no longer just in charge of the household and children. With nearly 40% of women now the primary breadwinners, it is more important than ever for women to think strategically about how they’re managing their finances.
Their emergence as leaders, entrepreneurs and innovators is indisputable. Women are increasingly assuming control of family and business finances, however, fundamental issues women face include working fewer years, earning less, living longer, staying single or divorce. This means that at some point in most women’s lives they will have sole responsibility for their finances.
How can women become more confident and savvy investors?
Surveys show women are generally less confident in financial management than men, but they are far better money managers than men. However, with all the best of intentions in managing their wealth, women often put themselves last.
Many of my female clients say “I wish I had taken control earlier”, so I’m passionate about encouraging women to empower themselves by doing something about their financial position. The key to being prepared is putting plans in place early and developing sound financial decision making skills, which can make a big difference over time. This is where expert advice can be invaluable.
How can women get started?
Anything that helps women take control of their finances and addresses the particular wealth management challenges women face is a positive initiative. ASIC's new Women's Money Toolkit is useful for budgeting and considering the financial impacts of life events like taking a career break to start a family. Armed with these insights, women need to partner with a trusted adviser to develop a tailored plan that enables them achieve their own financial goals sooner. We offer free financial health checks to help you take control of your financial journey.
General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977.