Despite the financial market not looking to recover anytime soon, the advice currently is: if you can, don't sell.
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But are women set to suffer worse financially from the current economic crisis? Financial adviser Michelle Higgerson says, well, it depends.
As a certified financial planner and adviser for Tamworth's Baiocchi Griffin Private Wealth, Ms Higgerson says now isn't the time to sell-off any assets in your super or in share portfolios.
"As a general investment principal, one of the most sensible things you can do is sit tight and wait it out, that way you are not selling things at a loss, and not crystallizing losses which at this point are only hypothetical," she says.
She said there was a 'fifty-fifty' split between clients who were concerned and those who weren't fazed by the current climate.
[W]e have also had clients see the opportunity and invest more funds and take advantage of the significant falls in the share market
- Michelle Higgerson
"For every one concerned client, we have also had clients see the opportunity and invest more funds and take advantage of the significant falls in the share market," she explained.
Economists are talking about a quick recovery - because there was such a quick fall.
"But it won't go back to normal straight away, it will take some time, and some industries would benefit more than others. Companies are in for a tough six months and perhaps we won't see that high-point we had in February for a while."
With the government allowing some in dire financial hardship to access a maximum of $10,000 from their superannuation, a national organisation are predicting women will be hit the hardest, forcing many into an "impoverished retirement".
YWCA Australia CEO Michelle Phillips is urging the Federal Government to create a specific COVID-19 payment for eligible women, rather than leaving them no choice but to tap into their "meager retirement nest eggs".
"Australian women retire with 42 per cent less in superannuation than their male counterparts," Ms Phillips said.
"We already know that nearly 40 per cent of single retired women live in poverty and that women aged over 50 are the fastest growing group of people at risk of homelessness in Australia.
"Drawing on their superannuation when the market is low to weather the COVID-19 storm will consign even more women to an impoverished retirement."
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But Ms Higgerson says it all depends on the individual circumstances, what time of life women are in at the moment, as well as how much they need to draw.
"If you are young and you have a reasonably well-paid job, a $10,000 withdrawal at the maximum shouldn't derail your whole retirement," she explained.
"However if you were close to retiring and had a small balance, that much would reduce your quality of life."
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She says the government would be better placed to combat any inequity once things get back on an even keel.
"[The government] can implement different rules in legislation to address this imbalance if it's proven that women have been disadvantaged - the numbers of which will take some time to figure out," she said.
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