Australian women lose super race

superannuation/women/melbourne-institute/

25 November 2019
| By Oksana Patron |
image
image
expand image

The average woman’s superannuation balance is almost 50% less than a man’s when retirement age is reached, according to the research by the Melbourne Institute.

The study further showed that, on average, Australian men transition into retirement with $454,000 while women lagged behind with just $231,000 due to time spent out of the workforce.

On top of that, events such as relationship breakdowns, changes to employment status and medical issues can also had huge implications on a woman’s financial health.

The institute said female experts urged women to start taking small steps now so they’re not caught short later as information regarding personal finance and how to plan for the future was becoming more accessible, with women encouraging women to educate themselves in order to protect their future financially. 

By preparing in the short-term women could create a better buffer that would protect them against unexpected ups and downs.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND