Sun Life revealed in a recent survey that Hong Kong women play a dominant role in household financial decision-making, known as the "Chief Financial Officer", with nearly half of the women in Hong Kong controlling long-term family investments, the highest percentage among all the Asian markets surveyed.
The survey also found that 67 percent of the respondents said they make the final financial decisions, yet only 7 percent of them seek professional advice.
The stark contrast to the high level of autonomy suggests that women may be exposed to risks that could undermine their long-term financial well-being as they lack access to comprehensive information.
The survey found that many women are challenged by the "Sandwich Generation", a triple penalty on financial security, self-care, and career advancement, where seven in ten respondents identified the financial burden of caregiving as the primary obstacle to improving their own financial security.
Meanwhile, women's retirement confidence reveals a longevity gap, with fewer than one in ten respondents believing their savings can sustain them beyond age 90.
Gloria Leung
