Women investing in women event
Lift As You Climb were delighted to have had our first in-person exclusive event post the pandemic on 16th September, kindly hosted by Fidelity at their London headquarters. Fidelity’s stunning roof-top garden shone on a balmy evening, with beautiful views of St. Paul’s Cathedral and Central London.
The brilliant Maike Curry spoke on the subject of ‘Women Investing in Women’.
Maike explored the causes of the gender pay gap as well as the related wealth and pension gaps. She enlightened us on the differing factors that contribute to the gender pension gap such as the ‘Pink Tax’ (where identical products for women cost more than those for men), the impact of career breaks, as a result of either raising a family or needing to look after elderly parents; resulting in women statistically being less likely to invest their money.
It was alarming to learn that women’s pension pots tend to overall be a third less than men’s. And even though women usually save more than men; they tend to invest be in cash investments such as an ISA rather than longer term and often riskier but more lucrative investments, that men typically invest in. She then challenged us to consider factors which might be preventing women from investing more.
In breakout groups, discussion centered around why women might be less likely to invest, and when they do, why they prefer cash over securities. We reflected on some of the reasons why women are reluctant to consider other investment options including: a combination of a lack of time or interest in doing research, a feeling that we did not have all the right knowledge to invest, not knowing where to start and / or not realising that you can start with as little as £25. Many said that having a recommended Independent Financial Advisor (IFA) would help them. The Financial Conduct Authority can assist with credibility checks on IFAs.
We finished the evening in our traditional way of chatting and connecting with each other whilst indulging in the delicious canapes.
Maike’s talk began with a reminder of the importance of having fun, especially since COVID. The event was a reminder of the joy of being back together again and encouraged women to get sound financial advice to enable them to plan and make better investment decisions. To explore ways on how women can improve their pension pot and for them to get investing in themselves.
