Financial planning for stay-at-home mothers

MANY South African women choose to take time away from the workforce to raise children, which is often an undervalued role. This decision, while rooted in love and commitment, can come with serious long-term financial implications.

- SARENE KLOREN

According to the 10X Investments Retirement Reality Report 2023/2024, just 6% of South Africans are on track to retire comfortably.

For women who step away from earning an income to focus on their families, this can mean facing retirement with little to no financial security, mounting anxiety, and limited options.

Kim Potgieter, a financial planner who works closely with women, says it's essential that stay-at-home mothers plan intentionally for their financial futures — even if they're not currently earning.

5 things stay-at-home moms should do for financial security:

1. Find a financial planner you trust

A sound financial plan should reflect the dreams, values and priorities of both partners - not just the income earner.