11 March, 2019
Lifestyle

Why “A Man Is Not A Plan”: Ensuring Your Financial Freedom

11 March, 2019

Planning for a secure future, be it for yourself, your family or your business is one of the most important steps you will ever take. So, why do we hold back?

Whilst we don’t always want to talk about it, women’s finance is different. Factors like the gender pay gap, career breaks, a longer life expectancy and a different attitude to risk, can all add up to women not meeting their financial goals. I meet a lot of women who are incredible at what they do and yet say to me “I’m rubbish with money”. What they mean is that they are nervous and they don’t know who to trust, because it’s all a bit overwhelming and they fear getting it wrong.

Read more: Simple Ways To Save Money In Hong Kong

lifestyle money securing financial freedom

According to a survey done in 2017 by the Institute for Aging, 61% of women would rather talk about their own death than money. The top financial regret for women is not investing more. This is where a good financial planner can help. Reviewing your current financial situation and putting some numbers on the goals that you have, can help you feel far more in control.

You’ve worked hard for your money, so shouldn’t it work harder for you? An investment portfolio needs to be driven by your hopes and aspirations. Your attitude to money defines what risks you are willing and happy to take, and what you expect in return. You need to feel completely comfortable that you understand what your investments do, how they work and more importantly why they matter in your life plan. You also need to be completely confident that the person helping you to make those decisions understands your aims.

In the same way I would not attempt to take my own appendix out or build my own house, there should be no shame in talking to an expert. For women who have been told they should aim to “have it all”, this can feel like admitting defeat. Surely consulting a specialist and getting professional help should be a sign of being a “proper” grown up? Delegating and making the best use of your time is the key to getting a lot done in Hong Kong, so why not get someone else to make sure your money is doing what you need it to do?

lifestyle money financial planning

Money isn’t everything but it does provide us with the freedom to live the life we want, both now and in the future. Without planning, money is just paper. When properly planned for, our investments can give us freedom in our old age, provide the head start we want to give for our kids and make sure that if something ever goes wrong, we are still able to cope.

81% of people living to the age of 100 are women, so we have an awful lot of time when we are retired and need to save up for this eventuality. We cannot afford to mess this up.

So, starting small…where do you want to be a year from today? What do you want to achieve financially over the next 12 months, and how are you going to make a change today to ensure that happens?

  • Break the jargon and end the taboos
    Don’t be afraid to have conversations with friends and family about money. If you don’t understand the jargon used, then challenge it and encourage conversations in plain language. It’s your money and you are responsible for understanding it. There is no such thing as asking a silly question.
  • Plan early and review often
    Early planning allows your investments to benefit from compound interest and the sooner you start, the better. It is vital that you regularly review your goals and objectives to ensure that your plan keeps evolving.
  • Speak to an expert
    Building a plan which takes into account every element of your financial life can be daunting. A good financial advisor should be able to make you feel at ease and listen to what you are saying. As a financial advisor, it is my role to look at the full picture and work with you to achieve your goals.

To help you prepare for any meeting with an expert, click here to download and print this check list for your finances. It will provide a good overview so that you can clearly see what you have, which will help form the basis of your discussion.

Featured image courtesy of Sassy Media Group, image 1 courtesy of Pexels, image 2 courtesy of Getty Images

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top
#SoSassy
*6 Facts Worth Knowing About Depression* is up on #sassyhongkong. ⁠
⁠
Clinical depression isn’t always black and white, follow our link in bio to help you gain a better understanding of the mental illness.⁠
⁠
#depressionawareness #itsoktobenotok #mentalhealthawareness #mentalhealthmatters #mentalhealth⁠
⁠
🎨 @_by_jum for Sassy Hong Kong⁠
⁠
Break a sweat not the bank. *Hong Kong Gyms With Free Trial Offers* is updated on #sassyhongkong. Follow our link in bio to get the offers. ⁠
⁠
#mondaymotivation #fitnessforall⁠
⁠
📷@Liammacleod7
Summer wedding invitations mounting up? Don't fret about your frock. ⁠
⁠
*Where To Buy Semi-Formal And Formal Dresses In Hong Kong* is your go-to resource for shopping for occasion wear. Follow our link in bio to read.⁠
⁠
#sosassy #sassyshops #hongkongfashion⁠
⁠
📷@netaporter⁠
⁠
⁠
💦 Dive right in to our guide, *Hotel Swimming Pool Day Passes In Hong Kong For Under $500* on #sassyhongkong. The water's lovely.⁠
⁠
Link in bio. #sosassy #hongkongswimmingpools #hongkonghotelpools ⁠
⁠
📷@harbourgrandhongkong
Going out out tonight? Read *A Makeup Artist’s Guide To Taking Your Look From Day To Night* on #sassyhongkong now for quick office to evening looks. Link in bio. ⁠
⁠
💄@krystinatekanawa⁠
📷@mediumten for Sassy Hong Kong⁠
⁠
#daytonightmakeup #hkmakeuplooks
From Hello Kitty boozy milk tea cocktails at @originbarhk to a refreshing mocktail menu at @bedu_hk, we're spoilt for places to drink this July 😻.⁠
⁠
Follow the link in bio to read *Mimosas To Martinis: Where To Drink In Hong Kong This July 2019* and get all the bar openings, happy hour, and new drinks menus⁠
⁠
#OriginxHelloKitty #HelloKitty45thAnniversary⁠ #dryjuly⁠
⁠
LUÜNA naturals, Hong Kong's new female-led period care company, is launching a healthy, sustainable and ethical period cup to fight period poverty in our city. The BUY-ONE-CUP, GIVE-ONE-CUP initiative does what it promises, so you donate a cup to @freeperiods.hk simply by buying one yourself (available for pre-order from Monday 15 July).⁠ To help them reach their target of 1,000 cup donations by the end of August 2019 join LUÜNA on Thursday 18 July for the #NoMoreSecrets: Menstruation matters event. For every ticket sold, they will donate a period cup to @freeperiods.hk.⁠
⁠
We’ve joined in by donating 5 period cups ourselves. Get your ticket through the link in @luuna.naturals bio. We’ll see you there!⁠
⁠
#buyonecupgiveonecup #nomoresecrets
Happy #nationalpinacoladaday Hong Kong. Where's your favourite 🍍? Comment below 👇. #sassyhongkong #ifyoulikepinacolada 🎨@callmejulesdesign

#SoSassy

@SASSYHONGKONG