Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 653

Financial advice as the pathway to economic security

The theme of International Women’s Day was “give to gain”. If you are still thinking about giving a donation or volunteering I have a suggestion. Consider giving yourself, your daughters or your mother financial advice to gain economic security. Because you probably know these stats: women tend to score lower on financial literacy tests, end up with lower superannuation balances and find themselves in a more precarious financial situation in retirement than men. So, can advice help? Let’s take a look.

Advised members report higher levels of financial knowledge

The gender gap in financial literacy levels is stark. Only 48% of Australian women are considered financially literate compared to 63% of men[1]. Our education system has got work to do, particularly when you consider financial literacy levels are lowest amongst our younger people – those aged 15 to 24. Advice can help.

In a recent UniSuper study[2], we found our advised members reported higher levels of financial knowledge compared to our unadvised members. But remember that advice isn’t just a meeting with an adviser, it can be self-served too. Many super funds provide online education, including webinars on different topics. Some funds also offer free digital advice, or one-on-one advice on topics such as the investment option you’ve selected in super and whether it’s right for you. International Women’s Day is your moment – whether it’s reading a quick article or meeting with an adviser. It can make a big difference to both your financial knowledge, but more importantly your super balance. Involve your daughters – the power of compounding means good decisions made early will have a big impact on their super balance for retirement.

Advice can narrow the super balance gender gap

And that’s important because we still lag men when it comes to our super balances. In fact, on average, women in their mid-50s have a super balance that’s $55,000 lower than the average man at the same age.[3] It’s a time when the compound lifetime effects of carer responsibilities and often lower paid work show up.

Advice can help close this gap too. Not only through the options outlined above, but through personalised strategies for women taking time out of the workforce for carer responsibilities. For example, your spouse can make an after-tax contribution to your super while you’re out of the workforce, or split their before-tax contributions into your superannuation account instead of theirs. Give yourself the gift of advice to help equalise super balances!

Advice can improve living standards in retirement

Finally, women generally retire in a more precarious financial situation than men, often for a few reasons. On average, women retire 2.4 years earlier than men; are 2.5 times more likely to face primary caregiving demands between ages 45 and 65 (after having cared for children); and often as a result retire with lower super balances. We then of course typically live longer than men. Any one of these factors impact the financial situation you find yourself in retirement. Financial advice can help. Our study showed that advised members tend to take more tangible actions towards securing their future. A few, simple decisions can make a difference to your standard of living in retirement.

What will you “give to gain” for International Women’s Day?

Gaining financial security is one of the most important gifts you can give yourself and others. Improved financial literacy, a healthier super balance and a higher standard of living in retirement is important for everyone. Advice does help. Our advised members feel more financially confident and more prepared for retirement. Use this year’s International Women’s Day as your moment to “give yourself financial advice to gain” economic security. You’re worth it.

 

[1] 2020 Household, Income and Labour Dynamics in Australia (HILDA) survey
[2] 2025 CoreData Research, Best Possible Retirement – UniSuper Report
[3] APRA Quarterly Superannuation Industry Publication - Sep 2025

 

Annika Bradley is Head of Advice Strategy, Research & Technical at UniSuper, a sponsor of Firstlinks. She brings over 20 years of experience across investments and wealth management in both the public and private sectors. In previous roles Annika worked with Morningstar and QSuper. The information in this article is of a general nature and may include general advice. It doesn’t take into account your personal financial situation, needs or objectives. Before making any investment decision, you should consider your circumstances, the PDS and TMD relevant to you, and whether to consult a qualified financial adviser. Issued by UniSuper Limited ABN 54 006 027 121 the trustee of the fund UniSuper ABN 91 385 943 850.

For more articles and papers from UniSuper, click here.

 

  •   11 March 2026
  • 1
  •      
  •   

RELATED ARTICLES

When losses in super become irreplaceable

Australia has saved $4.5 trillion for retirement. Here's what matters more

Do super funds need a massive wake up call?

banner

Most viewed in recent weeks

Why have Australian living standards 'fallen' and how do we fix it?

For the last few years there has been much talk of a 'cost-of-living' crisis in Australia and of 'falling living standards'. Lately this has flared up again with the pickup in inflation resulting in a renewed fall in real wages.

Will you run out of money in retirement?

Fear of running out has become a defining retirement anxiety. Why do some retirees die with substantial wealth while others deplete their nest egg? Evidence suggests the answer is more complicated than we think. 

Four options for an income investor’s next dollar

What if Australia’s golden age of dividends is ending? Rather than overhaul your portfolio, it may be worth considering where new capital can work harder. I discuss four income strategies and the trade-offs behind each.

Why spending more in early retirement can improve lifetime income

Conventional wisdom encourages retirees to preserve superannuation. But if those likely to qualify for the Age Pension later in life spend a little more today, it may deliver higher lifetime income and a more stable retirement.

The investment that sidesteps the new tax traps

Tax rules have changed, but many investors are still using yesterday’s strategies. Insurance bonds may offer advantages for those seeking greater control, tax efficiency and certainty about their wealth.

Testamentary trusts have secured the CGT exemption

Treasury’s latest CGT reform draft delivers a win for testamentary trusts and deceased estates, exempting estate-derived gains from the 30% floor. However, questions on death and divorce rollovers remain unresolved.

Latest Updates

Shares

Is it time to bail on Australian stocks?

For generations, Australian investors have backed banks, miners and dividends. But has that loyalty come at a cost? A look at the numbers raises an uncomfortable question about where future returns will come from.

Investment strategies

Making a case for the 40 year mortgage

The housing debate tends to focus on prices, interest rates and deposits. Yet an overlooked feature of the mortgage itself could help buyers enter the market sooner without abandoning prudent lending standards.

SMSF strategies

Red flags to watch out for when considering an SMSF

Thinking about an SMSF? Before you sign anything, learn how to spot the difference between genuine advice and a sales pitch, understand the real costs, and avoid the compliance mistakes that attract ATO attention.

Investment strategies

Not all income is created equal

Market conditions are shifting as familiar yield sources quietly lose momentum. Australian public credit may be the most compelling source of income in today's market but many investors haven't noticed the shift. 

Investment strategies

The market paid for change, not comfort

Reporting season has delivered a clear message: the market is no longer paying simply for quality, resilience or an earnings beat. It is paying for change in earnings expectations and the outlook ahead. 

Investment strategies

Will AI destroy investor capital?

Some of history's most important innovations changed the world while leaving investors much poorer. As trillions pour into AI, a familiar pattern may be emerging, one that rewards society far more generously than capital.

ASX reporting season: Signals, surprises, stock stories

August reporting season delivered strong earnings and bigger-than-expected dividends, but beneath this, a more nuanced story emerged. First Sentier Investors’ David Wilson and Christian Guerra unpack the key trends.

Sponsors

Alliances

  • ASA-Logo-RGB-ActiveGreen-web.png

© 2026 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.