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New Analysis Shows Why Acting Earlier Matters At Every Financial Decade
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New Analysis Shows Why Acting Earlier Matters At Every Financial Decade
By Goodbody
New research from Goodbody reveals how women’s investment and planning priorities shift through life, and why acting earlier at each financial decade can create more options for the future …
Decade thinking offers a natural opportunity to consider what has changed, whether your plans still reflect your life and what you want to make possible next. New analysis from Goodbody tracks a clear progression: from starting to invest to preparing for retirement and making accumulated wealth work with purpose. It also shows the value of acting early and adapting plans as life changes.
Decade thinking offers a natural opportunity to consider what has changed, whether your plans still reflect your life and what you want to make possible next. New analysis from Goodbody tracks a clear progression: from starting to invest to preparing for retirement and making accumulated wealth work with purpose. It also shows the value of acting early and adapting plans as life changes.
YOUR 20S AND 30S: TURN INTEREST INTO ACTION
For younger women, the interest in investing is already there. More than three-quarters of women in their 20s, 77 per cent, say they would be interested in investing but do not know where to start. The figure remains high at 68 per cent among women in their 30s, even though 69 per cent say investing is relevant to them. The findings reveal a gap between intention and action. Building knowledge, starting to invest and establishing pension habits can create valuable foundations. As careers, property and family responsibilities add complexity, staying engaged and reviewing plans can help protect longer-term progress.
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The potential payoff from starting earlier is significant. Goodbody modelling indicates that building a hypothetical retirement fund of €1.225 million would require contributions of approximately €799 a month from age 26, compared with €1,466 from age 36*.
OUR 40S AND 50S: PREPARE FOR WHAT COMES NEXT
In midlife, the focus increasingly shifts towards retirement readiness. When asked to choose the three areas of financial support or help they felt they were missing most, 56 per cent of women in their 40s and 61 per cent in their 50s selected a realistic retirement plan. Guidance on investments was also selected by 52 per cent of women in their 40s and 51 per cent in their 50s. Career changes, caring responsibilities, relationships and time away from paid work can all affect pensions and investments. A midlife review can bring pensions, savings and investments together and establish whether they remain aligned with the future you want. The cost of delay also becomes more pronounced. Reaching the same hypothetical retirement target would require approximately €2,968 a month from age 46 or €7,856 from age 56*.
Starting at 56 would therefore require almost ten times the monthly contribution needed when starting at 26. And with revenue limits on contributions, it’s not always possible to contribute to a pension at these high levels, making the catch up harder to achieve. But a later start is not a reason to disengage. It makes understanding your position and taking informed action more important. Among women who had received professional advice, 68 per cent said they felt more reassured about their financial future, rising to 83 per cent among women in their 50s.
YOUR 60S: MAKE ACCUMULATED WEALTH WORK WITH PURPOSE
The picture shifts again among women in their 60s: 75 per cent say they successfully stick to their financial goals, the strongest result across the age groups surveyed. At this stage, priorities may shift towards sustainable retirement income, wealth preservation, inheritance planning and supporting family, philanthropy or personal ambitions. Experience does not make every investment decision straightforward. While 76 per cent of women in their 60s feel confident managing their personal finances independently, only 46 per cent feel confident assessing investment risks and potential returns. Knowledge, perspective and advice continue to matter.
MAKE THE NEXT DECADE COUNT
The analysis reinforces the central idea behind decade thinking: priorities do not stand still, and neither should financial plans. Starting earlier gives investments more time to grow, but every decade offers a new opportunity to take stock and move forward. By staying engaged and adapting your plans as life changes, you can build towards what matters now and what you want to make possible next.
To find out more, visit www.goodbody.ie.
This is a marketing communication. Goodbody Stockbrokers UC, trading as Goodbody, is regulated by the Central Bank of Ireland and Goodbody Stockbrokers UC is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Goodbody is a member of Euronext Dublin and the London Stock Exchange. Goodbody is a wholly owned subsidiary of Allied Irish Banks, p.l.c.
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