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Women face lots of sabbaticals in her life like Marriage, Maternity, Relocation, Taking care of Parents/In-Laws, etc. So, ideally, she has less time to work in her life span as compared to Men. And It's a proven fact that women live longer than men, and living longer means costs!  

How? 

• Longer living means more money will be needed for retirement.

• Higher medical costs and lower or no income at the time of retirement.

• Inflation will eat out all savings lying in the form of cash. 

The Gender pay gap and Pink tax are the major issues that women are already facing. 

Therefore, it’s good to start planning for retirement and stick to it since the start of her career. By investing early she can secure her post-retirement life. 

How to start?

Learn Finance: If you are not familiar with finance, then you can start learning it. Resources like online workshops, youtube videos, articles, etc will help to understand financial terms and different products. There is no age for learning. Take part in the family's financial decisions and understand where the family's money is invested. It is easier to do any financial transaction nowadays with the help of the latest technology. 

Identify your retirement needs: The first step for retirement planning is to identify your present needs depending on which you can predict for your future retirement requirements. With the help of various calculators showing the Required Retirement amount, one can easily decide how much amount he/she will be needed at the retirement age.

Start Saving: Identifying needs will clear the amount which will be required for the future. So for this required amount start saving from your income today. Keep a check on unnecessary expenses. Early starters are always good gainers. You can start with a smaller amount also. No matter the amount, the only thing that matters is you started savings.

Start with SIP:  SIP is a very good option for beginners. It is a disciplined way towards investment giving better inflation-adjusted returns compared to fixed income products. It can be started with as minimum as Rs.1000 per month.

Diversify your Investments:  A very famous proverb is “Do not put all your eggs in one basket”. It means do not invest your money in a single investment product, invest in different asset classes to minimize your risk.

Be tech-savvy:  As said in an earlier point there are various apps available for ease in transactions. For Example, with the help of a budgeting app, you can easily keep a track of your expenses. Same way for doing investments also you can use a platform where you can have access to all the financial products.
 

Don’t work for Money, Make it work for You - Robert Kiyosaki

This proverb suggests that investing your money in a way that will create an income for you in your retirement time.
Retirement is the stage, which will show you how you have planned your finances during your earning years. And accordingly, you can reap the benefits of all the hard work.

It is always good to feel like a “Queen” in Retirement.