Women Are Living Longer: Make Sure Your Money Does Too

# Women are living longer – make sure your money does too

Women in New Zealand live, on average, five years longer than men. That’s great news for wellbeing, but it raises an important question: will your money last as long as you do? With women’s KiwiSaver balances still around 25 percent lower than men’s and the gap widening to 37 percent before retirement¹, now’s the time to make your money work harder for the years ahead.

**Understand****ing**** the challenge**

Women often reach retirement with smaller savings because of a mix of structural and lifestyle factors:

• Career breaks for caregiving
• More part-time or lower-paid work
• The gender pay gap, currently 8.2 percent
• Lower home-ownership rates
• Relationship changes

These factors build up over time, leaving less invested and fewer years for growth. Add a longer life expectancy and you have more years of expenses to cover, including housing, food, travel, and healthcare.

According to Massey University’s Retirement Expenditure Guidelines, even a “no frills” lifestyle can cost more than NZ Super provides. For women who live into their 90s or beyond, that gap widens as costs rise and savings have to stretch further.

• **Smart steps to make your money last**
• **Start investing now**

Even in your 40s or 50s, it’s not too late. KiwiSaver is designed for long-term growth, and small, regular contributions can add up faster than you might think.

**Choose a ****KiwiSaver ****fund that fits your future**

Many women default to conservative funds, which may not suit a long retirement. If you have time to ride out short-term market fluctuations, a balanced or growth fund could help your savings grow more over time.

**Maximise your KiwiSaver contributions**

If you’re self-employed or on a career break, you can still contribute. Aim to put in at least $1,042.86 each year to receive the full government top-up (eligibility criteria apply).

**Plan for a longer retirement**

Plan financially to at least age 95. Test your plan against that horizon, factor in rising healthcare costs, and balance growth with stability so your money keeps working after you retire.

**Build**** financial**** confidence**

Confidence is often the missing link. The more informed you are, the more control you have, and confident investors make better decisions. Talk about money with friends or colleagues, ask questions, and seek expert advice when you need it.

**Do****n’****t rely on KiwiSaver alone **

Explore other income sources to build flexibility, such as:

• Investment funds
• Rental property
• Business ownership or side ventures

**The opportunity – t****ake control of your future**

The longevity challenge is real, but it is also an opportunity. With the right strategy and support, you can make your money last longer and build a retirement that’s not just comfortable but fulfilling.

At Milford, nearly half of our advisers are women. We understand the unique financial challenges women face and are passionate about helping you plan with confidence.

Get in touch with us to learn more.

¹ [New report reveals why women retire with less – and how to fix it](https://retirement.govt.nz/news/latest-news/new-report-reveals-why-women-retire-with-less-and-how-to-fix-it)