Late 2022 Apex Group acquired InvestNow, and in this month’s magazine we sat down with Donna Mason, Country Head for Apex Group here in New Zealand, asking for her perspective on women and investing.

Donna brings over 20 years of experience in the financial services sector, specialising in areas such as funds management, investment administration, strategy, governance, and growth.

As part of the Apex Group, InvestNow benefits from a unique blend of global reach and local service capabilities. The Group has achieved remarkable growth and transformation, employing over 13,000 individuals across more than 112 offices worldwide.

Donna shared some insights about how women can take control of their savings with nuggets that we all can learn from.

Q1: Given women are more likely to face challenges like lower average earnings and smaller KiwiSaver balances, what strategies can women use to bolster their retirement savings, especially if they’ve had career interruptions or started saving later in life?

First of all, make sure you are in KiwiSaver. Regardless of how much you earn the combination of your contributions alongside your employer and government contributions will help your savings to grow much faster than if you try and go it alone. Fund choice is also an important factor, depending on the time horizon to accessing your savings and your own tolerance towards investment risk and choosing a fund that matches these could see you boost your investment returns.

Specifically for women, asking your employer to contribute to your KiwiSaver while on parental leave and seeking to understand the gender pay gap for the role you are in, and asking your employer for a path to close these gaps, take courage but are important conversations to pursue. At Apex in New Zealand, we recently made a change to continue to pay employer contributions into KiwiSaver for our team while on parental leave as we recognise it’s an important contributor to overall retirement savings.

Q2: According to the FSC Women and Finance in NZ report women often lack confidence in financial matters, even when they’re knowledgeable. What steps or resources can help women feel more confident and in control of their KiwiSaver and other investments?

The thing to remember is that no one is born with more or less financial capability that anyone else, it comes down to learning and experience. We are lucky that there are so many different ways and means for educating ourselves now; it’s more about finding what works for you! A resource that I keep going back to sorted.org.nz. On there I regularly utilise the tools section, the KiwiSaver calculator tool is good for working out how much your KiwiSaver savings will be worth at retirement and how much per week that will equate to. From there you can play around with different scenarios like topping up your savings, changing contributions or the fund type and you can see the effect these changes have.

I love listening to podcasts and some great ones specifically tailored to women wanting to increase their education on investing are Girls That Invest and The Curve. I also enjoy the NZX opening bell podcasts for content on the New Zealand economy and capital markets.

Lastly, give it a go! There is nothing like learning from firsthand experience. Opening an investment account with a platform like InvestNow, choosing a fund and then seeing how that fund performs and how the market influences that fund’s performance are all great opportunities to learn.

Q3: Why do you think women often hesitate to invest, and how can we encourage more women to grow their wealth through investments?

It comes back to giving it a go! Women, by nature like to plan and a good financial plan starts with a good budget first and foremost. In that budget, work out how much you can afford to save or invest on a regular basis while also meeting your other financial commitments. It doesn’t need to be a big amount, but regularly adding to it is a great way to grow your investment alongside market returns, while making it feel manageable. It’s also never too late to start; if you haven’t started investing yet then you can still start now. By starting now, you will still be better off in the future than not starting at all.

Q4: As a successful woman working in the finance industry, what are the biggest lessons you’ve learned on your journey with investing?

I remember talking to my Dad about KiwiSaver when it first came out back in 2007, contemplating whether or not to join this new retirement savings initiative. My Dad said to me at the time ‘Think of it this way, when you turn 65 and someone hands you a million dollars, will you be glad you have it? Will it make a difference to you?’ I said ‘Yes! Of course!’ and joined KiwiSaver and have never looked back. Other important KiwiSaver tips are to check your settings from time to time – make sure you are contributing enough and that you are invested in a fund that aligns to your investment goals, both can make a big difference to your retirement savings.

Another important lesson is not to make decisions in the short term if you are investing for the long term. What I mean by that is, the market, by nature, will have its ups and downs and it’s easy to get worried when the markets are going down and you see your balance dropping. But, if you are investing that money for something that you don’t need for another 5, 10 or even 20 years from now, then it doesn’t actually matter what the markets are doing today. Stay focused on your long-term strategy and stay the course.

Disclaimer: This information is provided by InvestNow Saving and Investment Service Limited (“InvestNow”). The information and any opinions in this publication are based on sources that InvestNow believes are reliable and accurate. InvestNow, its directors, officers and employees make no representations or warranties of any kind as to the accuracy or completeness of the information contained in this publication and disclaim liability for any loss, damage, cost or expense that may arise from any reliance on the information or any opinions, conclusions or recommendations contained in it, whether that loss or damage is caused by any fault or negligence on the part of InvestNow, or otherwise, except for any statutory liability which cannot be excluded. All opinions and market commentary reflect InvestNow’s judgment on the date of this publication and are subject to change without notice. This disclaimer extends to any entity that may distribute this publication. The information in this publication is not intended to be financial advice for the purposes of the Financial Markets Conduct Act 2013, as amended by the Financial Services Legislation Amendment Act 2019. In particular, in preparing this document, InvestNow did not take into account the investment objectives, financial situation and particular needs of any particular person. Professional investment advice from an appropriately qualified adviser is recommended before making any investment decision. All investments involve risk.

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