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

The strange effect of the 30% minimum capital gains tax

The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.

Does your will qualify for the discretionary testamentary trust exemption?

Treasury has confirmed the exemption many families were hoping for. But buried in the fine print are two conditions that could leave some wills on the wrong side of the exemption, despite years of careful planning.

Ranking three common retirement strategies

The defining challenge of retirement isn't just about building wealth, it's about converting your lifetime savings into sustainable income. A holistic understanding of different strategies can improve long-term outcomes.

Are you making these SMSF mistakes?

After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?

Why Australian shares are falling behind the world

Australia’s market boasts a long record of outperformance, but recent results tell a different story. Is the ASX’s lagging performance a temporary setback or evidence that structural forces will keep global markets ahead?

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

Most Australians approaching retirement can tell you the exact dollar value of their super account. But success depends on more than a sizeable balance. Here's four key questions to ask yourself at the start of the financial year. 

Latest Updates

Investment strategies

UniSuper CIO shares his reflections on the 2025-2026 financial year

Markets climbed a wall of worry in FY26, but artificial intelligence remained the dominant force, rewarding some of the world’s biggest companies while leaving others behind.

Planning

Post-Budget blues? A knee jerk won’t help

Sweeping tax changes are reshaping the investment landscape and many investors are considering major restructures. But before chasing lower tax bills, it's worth asking whether those decisions will strengthen—or undermine your ability to build wealth across generations.

Investment strategies

Is value investing still relevant in today’s stockmarkets?

Is value investing relevant in an age when momentum investing, quant strategies and index funds increasingly dominate markets? It is underappreciated how share price distortions may be creating some of the best opportunities for patient, disciplined investors.

Investment strategies

How to find opportunity in global equities

Australia's concentrated market makes global diversification essential, but breadth alone is not enough. Investors still need a disciplined framework combining business quality, sensible valuation and a credible catalyst.

Gold

What keeps the world’s most patient investors returning to gold

While many investors are asking whether gold has peaked, the world's central banks appear to be asking different questions altogether. Their thinking offers useful insights for long-term investors.

Investment strategies

Don’t underestimate Australia

Investor sentiment towards Australia has turned increasingly gloomy, but the data tells a different story. There are still plenty of reasons to remain optimistic.

Superannuation

Are you making these SMSF mistakes?

After four decades advising investors, there are a few common mistakes I've seen SMSF investors make. From holding too much cash and chasing yield to overtrading and trusting tips. Are these errors costing you?

Sponsors

Alliances

© 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.