Bonjour lecteurs! Being a maman, it is easy to put others at first and forget about ourselves. Does it ring a bell, ladies? If you follow us on Instagram, you might have seen yesterday that I was attending the Women and Retirement Report Launch 2018 at the House of Lords. Scottish Widows research over the last 14 years has always shown that women lag behind men saving for their retirement. So where are you in your pension journey? It is time for you to #EmpowerYourFuture with Scottish Widows.
Scottish Widows 2018 Women and Retirement Report
The research showed that for many women, sorting out their pension pot was the last thing on their mind. According to the report, women do not save up money for their old age early enough and therefore put themselves at risk for their future.
I am sure that it all resonates with you. In your twenties, it is all about finding a job and trying to make money. L’idée of getting retired is not top of our priorité. Getting in our thirties, it is all about settling down with Mr Right, paying a mortgage and expensive childcare. So exit the pension again!
Retirement – Women at Risk
Even if the Scottish Widows 2018 Women and Retirement Report is very encouraging in many ways (the number in women saving for retirement is at its highest since the whole project), some findings still remain a concern:
- 6 in 10 of young women aren’t saving enough for retirement
- on average men hold nearly twice the amount of savings and investments that women do
As soon as I read the report, I had a look around to see what was happening in France. And I must say that the results are pretty much the same. In 2016, French women were saving 42% less than men for their pension. Argh!
A Dangerous Circle
Unfortunately, women put themselves at risk when they do not get a pension as soon as possible. And I have a pretty clear idée why… It is all linked to the fact that we stop our career to become mums!
You get a job you love and then decide to have a baby. You make the most of your maternity leave but it is soon time to return to work. you then realise that childcare costs a fortune. Not worth working endless hours because all your money would be paying for a nursery? Many women then decide to become a full-time stay at home mum.
And let’s be honest, money is not always available in that kind of situation. So saving up for your pension is not une priorité!
The gender gap when it is about retirement is clearly here! But it doesn’t mean you can’t do anything about it.
Time to #EmpowerYourFuture…
You can still start little by little. It doesn’t have to be something complicated!
Scottish Widows has been helping people with their finances for over 200 years and has all the info you need regarding your pension with its Pension Wellbeing Hub.
You can find your pension personality to see what would work for you and your family.
And no pressure to save up £500 a month. The key is to get started even if it is just a little.
…For You and Your Family!
And by doing so, it means a safer future for you and your family! Now that I am self-employed and that I do not have a state pension anymore, I am fully aware that I need to find a new pension ASAP.
And you know why? Because I want Baba’s future to be as smooth as possible. I don’t want to be dependent on him in my old age! He will have his own money worries when he is an adult and I want to be able to be financially safe!
Writing those lines, I can not control myself but think of my grandmother. Thanks to her pension, we are all at peace and know that all her costs are covered. The fees to pay the retirement home are covered.
So #EmpowerYourFuture today. Take control of your financial future. Have a look now at the Scottish Widows’ page. Use the calculators and explore les possibilités. Even a small contribution will make a difference!
I will do it myself as I want to remain an independent woman, even in my old age!
Disclosure: This is a sponsored post written in collaboration with Scottish Widows – #EmpowerYourFuture