Women are the new economic power in Canada.
We have more financial-decision making power than ever. We are earning more, controlling more wealth, inheriting more, and starting more businesses.
Yes, we have come a long, long way – but, in reality, there are still many gender financial gaps that cost women time and money.
These gaps can add up to a very real gender wealth gap, and that can have a big effect on your financial future.
In fact, when women are ready to retire, we often have saved only two-thirds of what men have saved. Yet, we have to plan for a longer retirement, as we tend to outlive men by an average of four years.
The good news is there is something we can do about it. In fact, there are three things we can do. We can set clear goals. We can save regularly for those goals. And we can invest to grow our wealth. Investing is our superpower.
In fact, research shows women often make better investors than men. In one study, women investors came out almost a percentage point ahead of men each year. Over thirty years, that adds up to 25% more wealth.
But you need to get started. The sooner, the better. By investing in yourself, you can start to close the gender wealth gap and take charge of your financial future.