Money Matters: Closing the Gender Gap in Financial Confidence
This International Women’s Day, let’s talk about something more powerful than flowers and slogans—financial empowerment.
Women live longer, earn less on average, and take more career breaks—yet retirement funds, investment participation, and income protection coverage are all lower among women than men.
This isn’t just about money; it’s about security, independence, and confidence.
So, let’s break it down. Here are 5 key financial pillars every woman should focus on:
1️⃣ Know Your Worth: Closing the Gender Pay & Pension Gap
In Ireland, women earn 11.3% less than men on average (Irish Life).
65% of women in Ireland feel unprepared for retirement (Zurich).
Women’s pension pots are typically 35% lower than men’s.
💡 Tip:
Negotiate your salary: Use data (Glassdoor, PayScale, Salary Guides).
Check your pension contributions: Are you saving enough? Are there employer-matching schemes you’re missing out on?
Take credit for caregiving: In Ireland, PRSI pension credits exist for career breaks—don’t leave money on the table! (Citizens Information).
2️⃣ Beyond Budgeting: Build Real Wealth with Investing
💰 Women save more than men but invest significantly less, meaning they miss out on long-term growth.
Women’s investments outperform men’s by 0.4% annually, yet only 1 in 3 women in Ireland invest (Irish Examiner).
Over 20 years, investing €100/month (vs. saving) could mean a €40,000 difference due to compound interest.
💡 Tip:
Start small: €50/month in a multi-asset fund is a great start.
Understand risk vs. reward: Investing is a long-term game with huge opportunity to create personal wealth and financial security.
3️⃣ Planning for Career Breaks & Motherhood
Women take more career breaks, affecting income, savings, and pensions.
The average career break for caregiving lasts 12 years.
Women who take a 5-year career break lose up to 30% of their lifetime earnings.
💡 Tip:
Consider increasing pension contributions/AVCs in the run up to planned career breaks or maternity leave to avail of tax relief while you’re earning an income.
Consider part-time income, side hustle or passive income streams to keep earning.
4️⃣ Protect Your Biggest Asset: Your Income
💼 Would you insure a house worth €1M? Of course. So why wouldn’t you insure your earning potential, which could be worth more over you working life (potentially 40 years of income)?
An estimated 63% of women in Ireland have no income protection.
A long-term illness or injury could cut your income by 50% or more.
💡 Tip:
Consider income protection insurance to safeguard your future. Check out our sister company, BeatTheBank.ie for more information.
Make sure you have a valid will and an emergency fund (3–6 months’ expenses).
5️⃣ Financial Planning Isn’t Just for the Wealthy
Women in Ireland tend to seek financial advice later than men, often after a major life event like divorce, job loss, or bereavement.
💡 Tip:
Don’t wait—get financial advice early to make smarter money moves.
This IWD, empower yourself with financial literacy—because wealth isn’t just about money; it’s about choices, security, and freedom. We offer a 30 minute Zoom consultation for just €140 - it could be the stepping stone towards securing your financial future; you owe yourself that!