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Make a change to your financial future this International Women’s Day

Monday 7 March 2016

Women are significantly disadvantaged when it comes to financially setting themselves up for later life says Nicholas Heard, CEO of Heard Financial. Heard is on a mission to increase financial equality and literacy for women this International Women’s Day, by inspiring women to put themselves first and take just one small action today to significantly change their future tomorrow.
Studies show that Australian women are significantly more disadvantaged financially in retirement than men, with pay inequality and income gaps between men and women increasing over time and becoming wider in older age. Superannuation coverage is improving overall for both men and women, but assets held by women remains low.
Australian women, over a lifetime, earn on average $700,000 less than men and will retire with just over half as much superannuation as men. 90% of women will retire with inadequate superannuation savings and one in five women yet to retire has no superannuation at all. [1]
“Women have some complex challenges when it comes to money, which can get even more complicated if going through divorce. Women usually live longer than men, can earn less than men, and are more likely to have time out of the paid workforce to care for children or parents. This puts women behind when it comes to being financially secure - both now and in the future,” says Heard. 
Some ways that women can act now to protect themselves later, according to Heard, are to combine separate super funds into one; look at their investment options in relation to the retirement time frame and investigate salary sacrificing into super earlier.
“A sound financial plan is too important to leave to chance. I have two teenage daughters, so I’m passionate about offering advice to women at any age so that they can protect themselves from not having enough to retire on.
“Women are notorious for putting everyone else first, but what I’m saying is, take one small action today to put your financial security as a key priority today and take action now. Talk to a financial adviser, improve your financial literacy through online research and make a start as one small step today could create a very different future for you tomorrow.”

[1] ANZ Women’s Report, Barriers to Achieving Financial Gender Equality, July 2015

For further information, hi-res images and interviews please contact:
Amy Dowd | Rhetoric Communications|0420 979 187| amy@rhetoriccommunications.com
About Heard Financial
Heard Financial is an independently owned financial services advice business that provides professional, strategic individualised service to support and develop your current and future financial needs. We follow a systematic advice process to ensure we deliver a superior service experience. 

About Nicholas Heard
Nicholas Heard, CEO of Heard Financial, has more than 15 years’ experience in the finance and banking industry. He specialises in advising the self-employed, women, business owners and medical professionals in the areas of retirement planning, superannuation strategies, wealth creation and insurance.