Women and Wealth: Building Financial Independence at Every Life Stage

04 August 2026

August is Women’s Month in South Africa—a time to recognise the achievements of women and continue conversations around equality, opportunity and economic empowerment.

Financial independence is an important part of that conversation.

The ability to earn, save, invest and make informed decisions about money can give women greater control over both their present circumstances and their future.

Yet building wealth isn’t something that happens at one particular age or income level.

It is a process that evolves throughout life.

Whether you are starting your career, building a business, raising a family, approaching retirement or thinking about the legacy you want to leave behind, having a clear financial strategy can help turn income into lasting financial security.

The Financial Sector Conduct Authority has also highlighted financial literacy as an important tool for women’s economic empowerment and long-term financial wellbeing.

Financial Independence Is About More Than Income

A good salary can certainly make wealth creation easier, but earning money and building wealth are not the same thing.

True financial independence means developing a financial position that gives you options.

That may include:

Maintaining sufficient emergency savings
Managing debt responsibly
Building long-term investments
Providing for retirement
Protecting your income and assets
Planning for major life events
Creating financial protection for your family
Building an estate and legacy

The goal isn’t simply to accumulate money.

It is to create greater choice and resilience throughout your life.

Start by Understanding Your Financial Position

Before deciding where you want to go, you need to understand where you are now.

A useful financial review may include looking at:

Your monthly income
Regular expenses
Existing debt
Cash savings
Investments
Retirement savings
Insurance and risk cover
Property and other assets
Financial commitments to dependants

Many people avoid reviewing their finances because they expect the process to feel overwhelming.

In reality, understanding your current position is often one of the most empowering financial steps you can take.

Once you know what you have, what you owe and what you want to achieve, you can begin building a strategy around it.

Build an Emergency Fund

Unexpected expenses happen.

A vehicle repair, medical cost, sudden change in employment or family emergency can quickly disrupt even a carefully planned budget.

Having accessible emergency savings can help prevent short-term problems from becoming long-term financial setbacks.

Without an emergency reserve, people often rely on credit cards, loans or investments that were intended for longer-term goals.

Building a financial buffer therefore creates more than convenience.

It creates breathing room.

Make Investing Part of Your Long-Term Strategy

Saving and investing serve different purposes.

Savings are generally important for shorter-term expenses and emergencies, while investments can play an important role in long-term wealth creation.

Starting early can be particularly valuable because investments have more time to grow.

But it is also never too late to begin.

An appropriate investment strategy should take into account factors such as:

Your objectives
Your investment timeframe
Your tolerance for risk
Your income requirements
Your existing portfolio
Your tax position
Your future financial needs

There is no investment portfolio that is appropriate for every woman.

A personalised strategy should reflect your circumstances rather than trends or generic advice.

98 Degrees Group’s wealth offering focuses on multi-managed portfolios and holistic wealth strategies designed around growing, preserving and protecting long-term wealth.

Don’t Leave Retirement Planning Too Late

Retirement can feel distant when you are in the early stages of your career.

But the sooner retirement planning becomes part of your financial strategy, the more time you have to build towards the lifestyle you want.

Women may also experience interruptions or changes in their earning patterns throughout their lives.

Career breaks, caring responsibilities, maternity leave, entrepreneurship and changes in household structure can all influence long-term financial planning.

For that reason, retirement planning should not simply be something that is reviewed once and forgotten.

It should evolve as your circumstances change.

Protect the Wealth You’re Building

Building wealth is only one part of financial planning.

Protecting it matters too.

An unexpected illness, disability, death or loss of income can significantly affect a carefully constructed financial plan.

Depending on your circumstances, risk planning may include considering:

Life cover
Disability protection
Income protection
Appropriate medical or healthcare cover
Business risk protection
Estate planning

The appropriate level and type of protection will differ from person to person.

The objective is to identify risks that could materially affect your financial security and ensure that your broader financial strategy accounts for them.

Women in Business Need to Plan for Two Financial Lives

Entrepreneurs and business owners often have financial responsibilities that extend beyond their personal finances.

Your business may represent a significant portion of your wealth.

That creates additional questions.

What would happen if you were unable to work?

Could the business operate without you?

How would your family be affected if something happened to you?

Is your personal wealth sufficiently diversified outside the business?

Do you have a succession plan?

98 Degrees Group already works with business owners around the interaction between personal wealth, business risk and succession planning, recognising that the two cannot always be managed separately.

Financial Planning Through Life’s Changes

Financial plans shouldn’t remain static.

Major life events can substantially change your financial needs.

These may include:

Getting married
Divorce
Buying property
Having children
Changing careers
Starting a business
Receiving an inheritance
Caring for ageing parents
Losing a partner
Approaching retirement

A strategy that worked perfectly five years ago may no longer reflect your current circumstances.

Reviewing your financial plan regularly gives you an opportunity to realign your investments, protection and long-term objectives.

Think About the Legacy You Want to Leave

Wealth planning eventually becomes about more than the individual.

It becomes about what happens to the assets you have spent years building.

Estate and succession planning can help ensure that your wishes are documented and that the people or causes you care about are considered as part of your long-term strategy.

Depending on your circumstances, this may involve:

Reviewing your will
Considering beneficiary nominations
Structuring assets appropriately
Planning for estate costs
Considering trusts where appropriate
Creating a succession plan for a business
Discussing wealth transfer with family members

Legacy planning shouldn’t only begin late in life.

It is part of responsible wealth management.

Financial Confidence Comes From Having a Plan

Financial independence doesn’t necessarily mean doing everything alone.

In fact, one of the most valuable financial decisions you can make may be seeking professional advice.

A financial adviser can help you step back from individual products and look at your finances as a complete picture.

That means connecting your investments, retirement goals, risk protection, estate planning and future objectives within one broader strategy.

How 98 Degrees Group Can Help

At 98 Degrees Group, wealth management is about more than investment performance.

Our approach considers the broader financial picture and helps clients develop strategies designed to grow, preserve and protect wealth over the long term.

From multi-managed investment portfolios to wealth, risk and succession planning, we work with clients to develop strategies that reflect their individual objectives and circumstances.

This Women’s Month, take the opportunity to ask yourself a simple question:

Is my money working towards the future I want?

If the answer isn’t clear, it may be time to start the conversation.

Build Your Financial Future With Confidence

Whether you’re starting your investment journey, reviewing an existing portfolio or planning the next stage of your financial life, 98 Degrees Group can help you develop a strategy built around your goals.

Build wealth with purpose. Protect it with a plan.