Research released by MLC has revealed that over half of Australian women feel in control of their finances, but many are missing out on opportunities to boost their super and are concerned about their savings.
MLC’s all-female study revealed that only 57 per cent of women across Australia felt in control of their finances and were confident in being able to retire comfortably. Of the 43 per cent of women who did not feel in control of their finances, 61 per cent said low savings were the main factor. An additional 32 per cent said they have less than a month's worth of savings to live off if needed.
The research also revealed that nearly two-thirds of women in Australia are missing opportunities to grow their super.
Jasia Fabig, general manager of MLC Advice, says that more needs to be done to support women to make them more comfortable in finance, and to make their future financial interests a priority. Women often put the interests of others ahead of their own and are severely impacted in key life moments such as illness, job loss, divorce, or death.