Working Women – Are You Leaving Your Financial Destiny To Chance?

Yesterday, after leading my Beyond the Boys’ Club Masterclass, I went to a SmartWoman event at Barclays Wealth spearheaded by Barbara-Ann King and aimed at attracting more women into thinking about investments and their long term financial planning…a savvy move for any working woman. I spoke a few weeks back to women at BarCap on “Beyond the Boys’ Club” and was invited to this launch event which aims to fill a gap by providing financial advice for women. Barclays believe that women are just as financially able as men but says the evidence shows that women lag behind their male counterparts when it comes to personal finance and investing. According to an article in The Telegraph, women are leaving their financial future to chance by relying on their partner’s pension – a dangerous strategy considering how many relationships end in divorce – or the state pension, where only 35% of women qualify for the full amount. Barclays Wealth believes that part of the problem is that current financial advice is not targeted at time strapped working women and are looking to offer peer-to-peer advice through a web forum. Many women leave any spare money they have on deposit in a building society which, because of the current poor interest rates makes, little sense. And whilst women tend to be more averse to taking risks with their money as Nicola Horlick, the City’s original ‘superwoman’ says “If you don’t take risk, you don’t make money,” what we need, and what SmartWoman now aims to provide, is some good advice on how to protect our financial future.

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