New Zealand women will earn and save less than men in their lifetimes, they'll feel less confidence about money and investments, but will need more money for retirement because they'll live longer.
That financial gender inequity is among the issues the Herald is exploring in its four-part Women and Money series, which starts today.
We look at why women are still woefully absent from the Rich List, why they struggle to attract funding for business start-ups, why many lack knowledge in money matters and defer to someone else for financial decisions.
We look at women's attitudes to money and what's holding them back. And we come up with the answers. We share advice from experts on money management, relationships, entrepreneurship, investing, legal and banking matters, and wealth creation.
We talk to women like Brooke Roberts, co-founder and chief executive of online investment platform Sharesies, who says women are good at investing if the environment is right.
Sharesies commissioned a PinkPaper investor survey from Colmar Brunton that showed only 14 per cent of women invest in shares, compared with 25 per cent of men. Yet Sharesies' 50/50 gender split of investors shows that doesn't need to be the case.
Of the 67,000 clients investing $106 million on the site, half are women, proving that women want to be involved. Dejargonising the language and keeping investment explanations simple was the key, Roberts said.
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She believes that for too long the industry has been dominated by men. "Our research showed women lack confidence and motivation, so if we can improve this, even by a small amount, this could have a profound impact on women's lives."
The research showed two thirds of the country's 300,000 retail investors, with more than $80 billion invested in New Zealand capital markets, are men.
"If we were able to increase women's participation in investing even by 50 per cent, that could add a staggering $11 billion to the New Zealand markets," Roberts said.
"We'll all benefit from this but the outcomes for women will be more pronounced in closing the wealth gaps and helping women achieve greater financial wellbeing."