Safeguarding your future: Women and Financial Planning Melinda - PowerPoint PPT Presentation

Safeguarding your future: Women and Financial Planning Melinda Howes General Manager, Superannuation, BT Financial Group 1

Women are still retiring with substantially less than their male counterparts The average Australian superannuation balance at time of retirement for women is 42% less than for men $157,050 $270,710 Source: AFSA; average superannuation balance in 2015-16; retirement age assumed to be 60-64. 2

The majority of women acknowledge Superannuation is critical to secure their financial future, yet…  51 per cent of women believe they won’t have enough for retirement  8 out of 10 women don’t “feel satisfied” with how they are tracking for their financial future  Only 2 out of 10 women say they are on track in terms of preparing for their financial future Source: BT research – 2018 BT Financial Health Index – Australian survey 3

To close the gap and fund your future lifestyle 1. Start early 2. Budgeting, budgeting, budgeting 3. Goals based approach 4. Plan for the unexpected 4

Empowering women to take control of their financial futures Empowerment Wealth Review digital tool Empowering women Diversity and Wellbeing to take control supporting women  Better engagement with our 1m members, including women  Easy tools and insights to help women take control of  Understanding the critical their investments and plan link between financial for their financial futures wellbeing and other aspects of wellbeing 5