Women and Investing

2 min read

Women now control more wealth

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Control 32% of total global private wealth.1

Reaching US$93 Trillion by 2023 – strengthened by education and workforce participation.1

And projected to control C$3.8 Trillion in wealth in Canada by 2028.2

And not just through wealth transfer

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41% of Canadian households report women as the primary breadwinners3

Women’s earnings 47% of family income2

Half of millennial women created their own wealth and 72% are primary decision makers for financial planning.4


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But still face the gender effect in their finances

Women live longer, so retirement savings need to last longer.5

Women on average earn 81% of what men earn, resulting in a lifetime earnings differential on average of $900,000.6

Women are 3 times more likely to leave the workforce to take care of others.2


A few key strategies could make all the difference

Start now.

Even one year can potentially make a big difference at age 65.

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Source: AGF Investments Inc. Based on a hypothetical annual investment. For illustrative purposes only.

Invest regularly.

Every little bit helps, even $100 a month.

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Source: AGF Investments Inc. Based on a hypothetical annual investment. For illustrative purposes only.

Boost your returns.

What you invest in can make a huge difference over the long term.

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Source: AGF Investments Inc. Based on a hypothetical annual investment. For illustrative purposes only.

The role of a financial coach

Want to improve what you eat, consult a nutritionist. Want to make the best use of your time at the gym, hire a personal trainer. Want to improve your finances, hire an advisor.

An advisor can evaluate your entire financial situation, and build a plan to get you started.

32% of women reported using a financial advisor for guidance.7

75% of those regret not doing it sooner.7

 


To better understand investing, please contact your financial advisor. Don’t have a financial advisor? Before you start your search, read about working with a financial advisor.


1Source: The Boston Consulting Group, “Managing the Next Decade of Women’s Wealth”, April 2020.
2Source: The Changing Landscape of Women’s Wealth, CIBC Economics, released March 4, 2019.
3Primary breadwinner refers to the “proportion of women who earned more than half of their family’s income.” Source: Statistics Canada. Women in Canada: A Gender-based Statistical Report The Economic Well-Being of Women in Canada. Released May 16, 2018.
4 Source: https://www.rbcwealthmanagement.com/ca/en/research-insights/the-new-face-of-wealth-and-legacy-how-women-are-redefining-wealth-giving-and-legacy-planning/detail/.
5Source: Statistics Canada. Table 13-10-0114-01 Life expectancy and other elements of the life table, Canada, all provinces except Prince Edward Island.
6Source: https://www.payscale.com/data/gender-pay-gap. Released March 31, 2020. Assumptions: A 40-year career. The gender pay gap does not change and that employers offer an average 3% base pay increase to their employees each year.
7Source: Allianz Life Survey, February 2017.
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RO 2060517 
March 7, 2022