Senior Women Shatter Stereotypes with Financial Independence and Autonomy

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In the historic Hydrostone District of Halifax thrives Lady Luck Boutique, run by the dauntless Cathy Hope. A proud member of the 55+ community, Hope’s entrepreneurial venture and fierce independence represent the vibrant spirit of her generation.

“Living conditions or companionship do not determine happiness or financial stability,” expressed Hope, asserting her sentiments around the notion of independence and financial autonomy for older women. Cathy believes in and supports the choice of leading an unattached lifestyle.

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A recent HomeEquity Bank study suggests that women like Hope are shattering stereotypes. The findings showed that women engaging in financial discussions and seeking advice secure favourable financial status. The study highlighted that single women exude enhanced financial confidence while navigating their way through judgments and biases that obstruct their path to reliable -ones.

“Discussing aged singularity, alongside a reasonable financial buoyancy, shouldn’t be a worry weighed alone at a kitchen table. Instead, it should be a rich dialogue shared over a drink,” quipped Hope.

The survey assessed over a thousand individuals across Canada, shedding insightful light on the concept of financial empowerment among women.

Vivianne Gauci, HomeEquity Bank’s Senior Vice President for Customer Experience, echoed the sentiments of financial empowerment. She emphasised the significance of talking about finances regularly, indicating that open discussions lead to uncovering various strategies and opportunities. These conversations eventually help commandeer an individual’s financial control, nudging them towards making viable decisions that cater to their financial aspirations.

HomeEquity Bank’s findings revealed that 60 per cent singles woman reported high financial wellness scores. Among women aged 55 and above, 51 per cent reportedly sought financial advice. Furthermore, 62 per cent of women aged 75 and above, thanks to their robust financial management, enjoy life to the fullest.

“Financial autonomy primes us to feel good rather than letting someone dictate our decisions,” said Hope, adamantly negating the stereotypically suggested solution of seeking a partner for financial stability.

Fueling off the study’s findings, one realisation stands out – nobody cares for your financial future more than you, regardless of whether you’re single, with a partner, or a family. As Gauci stated, “Feeling financially healthy doesn’t require being wealthy. It’s about assuming control, educating oneself, and feeling empowered about one’s current financial situation.”

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