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The financial planning challenges faced by women

We always discuss planning without considering the challenges faced by a specific sex. This video gives both the men and women perspectives into the different challenges faced by women.

While i felt most of the points apply to Singaporean women, the video tends to be skewed more towards the more affluent side.

One area mentioned a lot was Long Term Care Insurance. Not just among women, but in general.

Differences between Women versus Men in Wealth

  • Women live longer: Longevity Risk
  • Women are more likely to be alone as they get older
  • Women spend nearly three times more than men on long-term care
  • Women’s retirement income is substantially less
  • Women spend too much time taking care of everyone else but themselves

Summary Points

  • 3:43: What an experience financial planner would like to know when a women walks in
  • 5:00: Questions asked by Men and Women are rather different
  • 7:45: The fears of women and contrast to men
  • 9.00: Some examples of married folks
  • 12:30: Long Term Care Insurance. Men are not interested, more important for women
  • 13:10: Advice for Single Mothers/Widows
  • 16:57: Steps Divorced Women should take, what are the biggest mistakes
  • 20:00: Considerations for women going to get re-married (Pre-nuptial)
  • 22:00: Women need to be less cautious in their investments due to needing to live for a longer time
  • 22:40: Bucket Approach: Have 2-3 years of living expenses in conservative investments, Have rest of portfolio more aggressively invested for long-term needs

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