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The dividend of a lifetime – why it pays to talk

Part 3 of our What How When, Money series – part of our Financially Fearless initiative for women. We explore why women need to talk about money more openly, and how to get started.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Women invest. Truth is, we make up a substantial group of investors. If you’ve got a workplace pension, you’re already an investor.

But when it comes to the next step, that’s where we’re not making the impact.

Even though women have the most Individual Savings Accounts (ISAs) in the UK, they’re mostly Cash ISAs. Men are more likely than us to put money into a Stocks and Shares ISA.

But when we do invest, we tend to stay in the market longer and we’re more cautious with what we invest in.

Remember this article is not personal advice. If you’re not sure if something is right for you, ask for financial advice. Unlike the security offered by cash, all investments can fall as well as rise in value so you could make a loss.

Why we’re talking to women about money

Some women find that the information available to us hasn’t empowered us to make positive changes with our financial lives.

Lots of women might feel they haven’t been given the bespoke investment tools to know where to start. But we’re here to try and change that.

Money should be easy to talk about and it’s important to break down the barriers we face.

Our financial stories are all different and they’re just as valid. You might be fearless within your industry. But even successful women sometimes need help succeeding with their finances.

How you can help

By actively creating your own money confidence, you can help to build the confidence of the women around you when it comes to theirs.

1. Share your personal investment experience

Why: if you’ve been investing for years and feel like you have a good strategy, share this with the women around you. Encourage them to start their investment journey if they haven’t started and share what made you feel passionate about investing in the first place.

How: if you or someone you know are new to investing, start familiarising yourself with the basics of investing and building your own portfolio. You could even join our webinar on Money Fundamentals to help you get talking about investing.

If you’re a seasoned-pro, there are still ways to build your knowledge – from navigating significant life events to future-proofing your long-term plans. You might even want to share your story about how you got there.

Sign up to be a part of the Financially Fearless community, for a chance to share your story

2. Talk about pensions

Why: by talking about how much of your salary you’re putting, or not putting, into your pension, you can help one another navigate how to fund your later life.

We’re no strangers to hearing about how our pension will generally be less than a man’s in retirement. But sometimes we even look in admiration to our fellow women who have been actively contributing to their pensions every month.

How: talk about how to break down the pension barriers. For example, you could talk about how just an extra 1% contributed into your pension can help to close the pension gap.

But remember, you usually won’t be able to access money in your pension until you are 55 (rising to 57 in 2028).

We’re committed to making the most of our pensions and retirement funding. We can also help the women around us do the same, by putting as much as we can afford into our workplace or personal pension and sharing our journey.

3. Start us young

Why: school teaches us a wide range of skills. All focused to get us ready for the job market and contributing to the economy.

But we’re not usually taught about money, savings, debt or investing.

So it’s no surprise lots of us don’t have the right tools to save and invest until much later. In fact, the average age of a female investor at HL is 45.

How: let’s talk about money with our daughters, granddaughters, nieces, goddaughters and cousins etc. It’ll make a big impact on raising the next generation of investors.

Take a look at our Getting Started page, you’ll find videos that you can use to help break down the basics for younger audiences.

When to get started

There’s no rulebook for talking about money or investing. But the sooner we do, the sooner we’ll positively impact all women’s financial lives.

Although the saying goes ‘money doesn’t buy happiness’, it gives us the opportunity to better protect our futures.

And with it, the opportunity to build our wealth.

But we know it’s hard to talk about money. If you need help starting the conversation and supporting the women in your life, sign up to our monthly tips and articles to help break the ice.

Find out more about Financially Fearless

Even if you’re confident about your investment strategy, or you’re not sure what could be right for you, you can always speak to an expert financial adviser. They’ll be able to help you shape your investments to match your long-term financial goals.

Find out more about how we’re empowering women and how you can join the conversation. You can sign up to receive helpful tips, articles, webinars, prize draws and more.

Learn more about Financially Fearless

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Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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