Based on the Fidelity International-CoreLogic 2019 research report, women in general identify with the following 5 financial goals:
1. Pay off the mortgage
Women over 35 want to finish paying off their mortgage. Women who have financial goals rated paying off the mortgage 8.7 out of 10 in importance.
2. Understand and contribute to superannuation
Many women are unaware of the amount of superannuation they will need to retire comfortably, but understand they need to contribute. Only one in three women are certain, or have a good idea, how much superannuation they will need.
3. Save for a comfortable retirement
When it comes time to downsizing property, most older women want to use this money for retirement rather than leaving an inheritance. When faced with the prospect of suddenly coming into a large windfall of money, women would largely invest the money or put it into their superannuation to fund their retirement.
4. Improve financial literacy
Women over 35 tended to undersell their financial literacy, whereas women under 35 are more confident in their financial knowledge and literacy.
5. Look after the family and build wealth
Women most often put family security at the top of their list of priorities but are also conscious of setting long-term investment goals. The number-one financial goal is to have enough money to provide for the family. Buying an investment property is also a common objective.
This research definitely corresponds with the financial issues our female doctor and dentist clients want help with:
– Buying a house or investment property and paying down the loan
– Putting in place insurance protection
– Optimising their superannuation
– Having multiple wealth creation strategies in place
– Being educated on their options
We specialise in working with dentists and doctors, and 80% of our new clients are female medical and dental professionals.
If you would like to discuss any of these financial goals please feel free to reach out via Yves@affluenceprivate.com.au or 0432 885 295.