3. Have empathy for women and their struggles
It is important for a financial planner to understand that when it comes to retirement planning for women, each financial situation is unique. Each woman is often wearing multiple hats, and her financial planning needs to take all of that into consideration.
A good specialist financial planner for women will understand their health concerns and the stress of their jobs. For example, there are specific illnesses that are unique to or more commonly occurring in women, such as breast and ovarian cancers. In matters like these, it does take one woman to know and understand another. Another woman would instinctively grasp that being diagnosed with a terminal illness means that all dependents, including the young and old, would be affected, as women tend to make up the majority of carers. Hence, the financial planning needs to take these into consideration.
Some women may also be embarrassed to broach the topic of women illnesses with a male financial planner, such as breast or ovarian cancers and this sensitivity is understandable. One of my clients was diagnosed with ovarian cancer and she was thankful that I kept reminding her to go for her timely health screenings which included a mammogram.
When this topic is broached, woman to woman, the client sees the wisdom in planning for these and appreciates when it is included in the list of considerations.