Thursday, 6 August 2026

Women were told they need about 10% more retirement savings than men because a 60-year-old woman lives roughly 3.5 years longer; yet women still retire with almost a third less saved.

Momentum’s Faria Adam said retirement planning should separate must-have expenses from lifestyle wants, and explained that a mixed approach — guaranteed life annuity plus living annuity — can balance certainty and flexibility.

Charlene Lake and Debbie Sankari Govinda said money was often not openly discussed in their homes, but both learned early that financial independence matters; Govinda said, ‘a man is not a plan.’

Behavioural science lead Paul Nixon said money mistakes are often driven by attention, beliefs, emotions and outdated money scripts, and recommended breaking decisions into small steps and using AI without judgment.

Gugu Sadaki said women should start with at least 15% of gross income in their 20s, rising to around 20% in their 30s and about 40% in their 40s, while also finding a trusted financial advisor.