- Women & Money
For many, menopause is a time of life when career, life and financial demands are at their peak, yet suddenly, physical and mental performance levels drop. The pressure to carry on with the usual load can become overwhelming, and yet, taking a step back might seem an impossible luxury. This is a key time when being in good financial shape can make all the difference for you, your business, and those who count on you.
If this is your reality at the moment, know that you’re not alone. In the UK, 13 million women are of menopausal and perimenopausal age – that’s equal to around one third of the entire female population. There are over 34 recognised symptoms of menopause, which affect each person differently, meaning that every individual’s menopausal and perimenopausal journey will be unique. Who doesn’t fear the burn up or brain fog, or memory loss, or carrying on with the usual responsibilities despite debilitating levels of sleep deprivation? It can trigger previously unknown levels of self-doubt, and the impact on self-esteem can lead many women to question their ability to carry on with their careers. Sadly, almost 1 million women have left their employment due to menopausal or perimenopausal symptoms.
Those career breaks can be critical: statistically, this is a time of life when women are returning to the workforce or building businesses after earlier career breaks to start or raise a family, or look after other dependants, or are focussing on building pension pots and succession planning as retirement now moves into focus. This is a time when the effects of menopause on confidence and capacity to work can impact on earnings and savings towards retirement. If there are children, when finally they fly the nest it becomes time to think about your next chapter – but the financial reality of a dream retirement could be quite different.
It is no surprise that during this time in your life, you may want to take some time away from the workplace or step back altogether, but how will you cope financially?
It can feel overwhelming, but don’t hesitate in seeking help.
At Independent Women, we are experts in women’s finances so we have set out some key tips to help navigate your finances during this time:
At Independent Women, our friendly, expert team is here to help. Speak with us now and let us guide you through the financial planning process, explore your options and support you.
Content on this page is provided for general information and is subject to change and does not constitute advice.
If you would like to know more for your own situation, please do not hesitate to contact us.
We would be delighted to discuss this with you in more detail, taking your circumstances into account.