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By Maria Smit*
Without making any bones about it, financial planning for women is a subject that is more complex and nuanced than many give it credit. Your circumstances, often as a mother, a breadwinner, and carer for your family, mean you cannot rely on others to take care of your future.
Taking charge of your finances is one of the most effective ways to ensure your future independence and happiness.
And you don’t need to have great wealth, an established family or any other criteria to sit down and look at your finances. A financial plan is a map to the future you’ve always dreamed about by helping you achieve short and long-term goals in realistic, achievable ways.
Do you know, for instance, how much money you’ll have at retirement? A common rule of thumb is that you need to have saved 15 times your annual salary at retirement if you want to earn 75% of that amount through your retirement.
To give you an idea of the numbers involved, if you plan to retire at 65, you must start saving:
15% of your salary from age 25;
19% of your salary if you start at age 30;
24% of your salary if you start at age 35; and
33% of your salary if you start at age 40.
This is assuming your income grows at 1% a year above inflation.
Why financial planning is your top priority
It’s easy when looking at these numbers to appreciate the value of a financial plan.
Whether you’re single or married – in or out of community of property – the reality for the majority of women is that we will outlive our male partners. So, chances are pretty good that you’ll be left to handle the finances anyway after your partner has passed on.
Which is why I suggest to my clients that they should take an active part in planning and understanding their investments and retirement plans.
By being better informed, you’ll hopefully also overcome an inherent female trait: we’re more risk averse than men and often shy away from risky assets for fear of losing our savings. This hesitancy often works against us because it can prevent us from making the best long-term investment decisions.
And that is the value that a trusted advisor brings. You can’t be expected to be the expert on financial markets and instruments. Rather leave this to a suitably qualified advisor who can help you put together an investment strategy that will overcome your natural inclinations to avoid risk at all costs.
A plan gives you purpose
With a financial plan to guide your decisions, you don’t have to be concerned about whether you’re making the right decision. If your plan shows that you will benefit in the long run by staying invested, then your first priority is to follow the plan.
By following a predetermined path, you’re less likely to be distracted by short-term noise and emotion. It’s been shown time and again that markets do recover after periods of volatility and investors who didn’t sell had the better outcome.
A solid financial plan can also reduce overall stress if it helps you take care of life’s big responsibilities. Apart from planning for your retirement, you probably also have children to take care of and plan for their future education and well-being. Your plan can help you prepare for these future events.
Don’t panic if you’re not on track
Many of us find ourselves a little or a lot short of where we’d like to be to retire gracefully. The obvious remedy is to take corrective action, which should be informed by your financial plan. And you’ll only benefit from the power of compounding returns if you take action now rather than delaying any further.
A good financial adviser can help you calculate whether you’re on track using retirement planning software and assumptions to project how much you’ll have by the time you get to retirement age. You’ll also be able to project how long that income will last in retirement.
It’s true that you can find online calculators that promise similar projections, but I’d caution against relying solely on these online tools to plan for retirement. Speaking to a qualified advisor will give you a fully informed opinion based on your specific needs and goals.
With the right person guiding you, financial planning doesn’t have to remain a mystery. By partnering with a trusted advisor you get the benefit of their expertise without having to compromise on our goals.
- Maria Smit is a Financial Planner at Brenthurst Wealth Pretoria.
Megan joined the Brenthurst Wealth team in March 2026 as an Administrative and Fiduciary Services Assistant at our Val de Vie Office in the Western Cape. Prior to joining Brenthurst, Megan gained three years of experience in the retail sector, where she developed management and client service skills.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Esmarelda Isaacs-Andreas joined the Brenthurst Wealth Stellenbosch office in October 2025, taking on the dual role of Receptionist and Fiduciary Administrator.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Ashley joined Brenthurst Wealth in January 2025 as Office Administrative Assistant and Receptionist for the Stellenbosch Office.
René Heystek joined Brenthurst Wealth in November 2023, as receptionist and administrative assistant in the newly established George/Garden Route office.
Michelle Heystek has built a career in the financial services over the last two decades, after obtaining her B.Com degree in Financial Management in 2005. Once she joined Brenthurst in 2006, she continued her academic journey, obtaining her Certificate in Wealth Management from INSETA in 2007, followed by a Postgraduate Diploma in Financial Planning from the University of the Free State. In 2008, she earned the Certified Financial Planner (CFP®) designation.
Anelle joined Brenthurst Wealth as a Receptionist and Administrative Assistant to Brian Butchart in the Cape Town office in December 2023. She has a wealth of knowledge from working as a liaison between Financial Advisers and clients at TMA and Absa Investment Management Services (Aims) since 1998. She obtained her B. com degree from the University of Port Elizabeth in 1997.
ADMITTED ATTORNEY | FINANCIAL PLANNER & HEAD OF BRENTHURST FOURWAYS
Sanet was appointed in April 2020, joining our Cape Town team as an Executive Administration Assistant to Renee Eagar. She has been in the financial services industry since 1990. Her previous experience includes positions at Sanlam, BJM and ABSA. She spent her last 12 years working at Alexander Forbes Private Client Wealth as a Senior Wealth Management Assistant. She has received numerous accolades over the years which include but not limited to, Alexander Forbes Client Service Excellence – Silver award in 2014,2015 and 2017. Sanet has also obtained her Certificate in Wealth Management (NQF 5) in 2012 and achieved “Best Student of the Year” from Moonstone.
Maria Smit is a Certified Financial Planner® with over 10 years of experience in the financial planning industry.
