How can we improve the rest space for women?

It’s true that when I was in school I wasn’t strong. Best of all, my father was a very skilled craftsman and carpenter. He spent many hours reviewing my work and offering help to improve my future projects. One of his biggest bugbears was about the bugs I left in my team. He would say, “If the work is right, it must be done right.” In other words, there is no shortcut if you want to get a good result. By David Boyle

Sunday, June 5th 2022, 8:09 AM

and Mint Asset Management

Personally, I don’t know the problem and I don’t think about the consequences of it until later in life. He really used the analogy when building houses, because the long -term effect could be costly if the house was not built properly in the first place. I mean ‘he’s right’, I mean, what harm can a small gap create in the long run?

In 2016 his words rang in my ears when I realized we were ours leaky home and the cost of repairs is too low.

It can be said about the difference between men and women in terms of financial consequences when it comes to retirement. If left untreated, the unintended consequences of a small gap in the first place can have a serious impact on your entire financial life.

We found that many environmental factors did not help to address the gap between men and women when it came to long -term investment and retirement outcomes. The two most important factors that contributed to this were the pay gap between men and women and the time many women took out of work to start a family.

I see a lot of water going under those bridges but in the end we see that we are not only acknowledging these problems but moving to help improve them.

There is a third lever, and this is about increasing awareness of the financial difference and improving awareness, so that women can take control of their positions. personal.

This has been supported by the Te Ara Ahunga Ora Retirement Commission for some time. Most recently, the Financial Services Board (FSC) and a wide range of business organizations have teamed up to identify the problems and provide some useful and valuable resources. information to help the main teacher.

“It Starts With Action” is an initiative developed by the FSC in support of the Life Pathways Retirement Committee that aims to change the impact on the growth of financial security and well -being of women. .

There is a lot of evidence and research provided by both groups, which provides insights into women’s perceptions about money and their personal potential, as well as more detailed research on financial well -being. all of the women in New Zealand.

The FSC research paper “Money and You” is known as:

  • Over 60% of women worry about money every day, every week or every month.
  • 62% of women are not ready for retirement, but financial anxiety is decreasing
  • with age.
  • Over 80% of women rate their financial security as low, low and very low.
  • 60% of women count their investments low.
  • 32.4% of women use or plan to use digital tools and financial institutions to invest.

As with all research it is good to know where the problems are, but the most important thing is what you do with that information. This is where the FSC and other financial institutions took the trouble to do something else, dealing with critical issues.

For example, there is a great resource called Money Talks. There are some questions that are designed as a game to consider your personal situation.

Here are some questions that are most irritating and, if nothing else, make some interesting conversations at home or with friends over a wine or dinner.

Q. Is it good to build property, bad or unsustainable?

Q. How much money do you need to save?

Q. What do you tell your teen about money?

Q. What do the terms financial independence mean to you?

And my favorite: what’s your kryptonite coin? That is, your weakness when it comes to spending. My answer here is vinyl records. I can’t walk into a history store without going in to look and leave with something under my arm.

Some financial institutions have taken the trouble to video their employees answering some of these questions, which I think is a great way to practice conversations that can be difficult at times. See how the Mint team answers some of these questions here.

Life was very similar in my parents ’time for everyone. The reason is, in most cases, you went to school, got a job, got married, bought a house, had a family, the kids left home (and they did that in the past) ), save money and relax. 60. When I write like this, it’s like a story and we’ve all been happy. Not Correct.

“Start by doing” is a great exercise and, in my opinion, there are five things you can do right now to help you get started:

  1. Create a bank account and see where your money will go. Get rid of debt and build a bank account for a rainy day
  2. Write down your goals and start planning for tomorrow today
  3. Make sure you’re on KiwiSaver and the right bank account
  4. Understand the difference between good credit and bad credit
  5. Find the right financial advice to help you complete your plan or visit the Sorted website. They have some great tools to get you started.

There are many different ways to live our lives today. Cutting back on your financial health in the short term is like a leak in the house. You can’t see a real result every day, and it takes a long time to fix it without feeling overwhelmed to do so. Filling in the blanks can give you a better reason for your future and the best time to start now. As a first step in calculating how many pay days you can take off, it may give you the nudge you need.

Disclaimer: David Boyle is the head of sales and marketing at Mint Asset Management Limited. The above article is intended to provide information and is not intended to provide financial advice.
Mint Asset Management is the issuer of Mint Asset Management Funds. Download a copy of the product description here.

Mint Asset Management is an independent real estate company based in Auckland, New Zealand. Mint Asset Management is the issuer of Mint Asset Management Funds. Download a copy of the product disclosure here 2020.pdf

Words: Mint Property Management

Comments from our readers

No idea now

sign in add your imagination

How can we improve the rest space for women?

Source link How can we improve the rest space for women?

Back to top button