Despite being statistically better investors than men, the World Economic Forum (WEF) claims that women retire with 30 to 40% less money.
This gender disparity is further widened as savings app “Franc” says their investor base comprises 70% men.
The question now remains, if women are such good investors, why do they have much lower returns than their male counterparts.
Founder of the mobile app “Franc”, Dr Thomas Brennan, explains that lower salaries and outdated saving cultures play a role in this disparity.
“It’s sort of well known, unfortunately, women earn less than men. There is also career breakages as well, sort of delays … raising families sometimes. There is also more pressure on the monthly income, so there is more pressure and less disposable income.”
“Thirdly I think, because of a sort of a legacy issue around finance and the culture of money being sort of in a man’s domain. Women get into the investing game a lot later. They have particularly had less to put away and I think that’s the primary driver,” explains Brennan.
In the video below, gender inequality is discussed during Women’s Month last year:
