Demystify long-term financial planning for women

THE question of financial and/or investment planning for women has often puzzled me in the past. Is there such a thing as a gender-specific approach in financial planning? Surely the broad principles apply regardless of gender - start early, set your goals, be diversified, and so on.

To be sure, everyone needs to plan and save, regardless of gender. But the reality is that women's need to plan is more compelling due to demographic and workforce trends: Women live longer than men, and hence their savings must last longer. They tend to work in lower-paying jobs, if they do work. Their careers tend to be disrupted by caregiving roles, which exacerbates the pay gap.

But certain fears keep women from even getting started on their investment journey, despite evidence that women have the makings of good, steady investors - much more so than men.