SHE LEADS 4: Don’t Go Broke in Your Golden Years

The latest instalment of the She Leads series, titled "She Leads 4: Don’t Go Broke in Your Golden Years," was nothing short of a masterclass in retirement finance and women’s financial empowerment.

The event offered a wealth of practical strategies designed to arm women with the knowledge and confidence to secure their financial futures.

Hosted at Karangkraf, the event featured an impressive lineup of experts, including Balqais Yusoff, head of policy and strategy at The Employees Provident Fund (EPF); Nor Fazlina Ghouse, chief executive officer (CEO) of Maybank Trustees Bhd; and financial planner Erin Adlina Adnan.

Together, they delivered a power-packed session filled with actionable advice on achieving financial sustainability in retirement and navigating financial hurdles with finesse.

From managing finances wisely to understanding the critical role of wills and trusts, the discussions were not only enlightening but also brimming with practical guidance.

The emphasis on wills and trusts, in particular, highlighted the importance in protecting assets, securing legacies, and ensuring the well-being of loved ones.

Erin delved into the often daunting topic of loans, offering a fresh perspective that could change the way many view debt. She encouraged women to see loans as tools rather than burdens.

"Loans come in various forms, including business, personal, mortgage, and car loans. They aren't inherently good or bad; it’s how you use them, manage them, and repay them that truly matters,” she said.

She added that while loans can be a means to acquire necessary items, it’s crucial to stay mindful of interest rates and repayment plans. Erin cautioned against viewing loans as free money, highlighting that they are a form of debt and responsibility that requires careful management.

Balqais brought her expertise to the table by sharing insights into prudent financial management. She urged attendees to draw a clear line between wants and needs, emphasizing the importance of prioritizing spending.

“It’s important to ask yourself if what you’re spending on is a need or just a want. Sometimes, we get confused between what we want and what we actually need,” Balqais said.

She encouraged women to plan their finances with both short-term and long-term goals in mind, focusing on what truly adds value to their lives.

Nor Fazlina Ghouse highlighted the critical role of having a will, particularly for estate planning. While Islamic law’s Faraid provides a basic framework for asset distribution, Fazlina stressed that a will offers a more personalized approach.

“For Muslims, there’s a common misconception that Faraid is sufficient, but having a will allows for more detailed planning and ensures your assets are managed according to your wishes,” Fazlina said.

She stressed the importance of a will for parents with minor children, as it enables the appointment of guardians who understand the family’s unique needs and dynamics.

To dive deeper into the expert advice shared during this event, including Erin’s insights on loans, Balqais’s guidance on financial management, and Fazlina’s tips on estate planning, be sure to watch the full video.

Don't miss out on these essential strategies for achieving financial security and empowering yourself for the golden years ahead.