What Do Kiwi Women Want From Investing To Help Achieve Financial Wellbeing?

Webinar for women will discuss the challenges on June 15

What makes investing for future financial wellbeing different for Kiwi women?

This key question will be examined in detail at a forthcoming webinar being hosted for women by Trustees Executors, New Zealand’s longest serving independent trustee company.

According to the 2021 “Women and Financial Wellbeing” report released by the Financial Services Council, over 70% of women feel that their financial wellbeing has a major influence on their wellbeing overall.

60% of Kiwi women worry about money daily, weekly, or monthly, and 62% feel unprepared for retirement. More than 80% rated their financial wellbeing as very low, low, or moderate. 60% of women surveyed had little or no investing experience.

On June 15, these issues will be explored and discussed in a webinar hosted by Ann Morrell and Kelley O’Dwyer from Trustees Executors, who collectively have more than 60 years’ experience in New Zealand’s financial services sector.

The initiative supports the “It Starts with Action” campaign launched by the Financial Services Council to support women’s financial empowerment and wellbeing. Trustees Executors is supporting the three-month campaign as a Founding Champion.

“When it comes to achieving financial wellbeing, building long-term wealth and retirement preparedness, women are faced with a significantly greater challenge than men,” said Ann Morrell, a veteran Private Wealth adviser who has been helping women navigate investing for 30 years.

“While the gender pay gap has been decreasing slowly for decades, it is still at 9 per cent. Women, and especially mothers, earn less over the course of their lifetimes than men of the same age,” she said

“Women also perform more unpaid work at home and are more likely to work part-time or casually. As a result, there simply isn’t as much money left over to invest in savings and retirement.

“Women are more risk-aware investors than men. Compared to men, women invest very conservatively. This can result in lower long-term returns, though other research has shown that when women do invest, they actually outperform men on investment returns.

“Women live longer and need to plan for a longer retirement. Not only are women more likely to reach retirement age with less than men, but they also need to stretch those savings over a longer period. That’s because women can expect to live longer on average. Retirement planning needs to acknowledge this additional burden women face.”

The Investing for Women webinar will cover a range of investing issues important to women issues including:

· Types of investments – term deposits, managed funds, KiwiSaver, cryptocurrencies, direct investing and online micro-investing platforms such as Flint Wealth, Sharesies, Hatch and InvestNow

· Managing risk – understanding the relationship between risk and return, volatility, market risk and diversification

· Setting investment goals

· Making a budget

· Using financial advice

“With the low levels of financial wellbeing among women, it’s even more important that women have more conversations about money, regardless of age, life stage or financial situation,” said Ann Morrell.

“It’s a small step towards demystifying money for women, and I encourage women to get involved to begin taking ownership of their financial wellbeing.”

The Investing for Women webinar will be held on Wednesday, June 15 between 3.30pm – 4.30pm. Anyone can participate and it’s free to register by visiting this link.

About Trustees Executors

Trustees Executors Limited was established in 1881 and is New Zealand’s oldest independent Trustee Company. We provide a full range of financial and trust solutions to individuals, families and the corporate sector including estate planning, trustee, and investment advisory services. We are a Licensed Financial Markets Supervisor and a leading provider of specialist Corporate Trustee and back-office investment administration services to some of New Zealand’s largest financial institutions, banks, and fund managers. www.trustees.co.nz

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