Financial security is a top priority for Singaporean women investors, yet a recent survey reveals that many are not confident they can meet their financial goals, particularly in retirement.

This is according to the “Singapore Women's Financial Fitness Survey” survey by Moomoo Financial Singapore Pte Ltd (moomoo SG) that polled 2,655 Singapore women investors who are at least 21 years old, and have a median annual income of $60,000.

Results revealed that 53.4 per cent of female Singaporean investors wish to be financially secure and retire before turning 60. However, 40.2 per cent are not confident that they can meet their retirement goals, saying “they are not mentally and or financially prepared to face a loss or reduction in income”.

“What women need is a boost of confidence to encourage them to make smart financial decisions so they can lead financially fit and secure lives,” notes Ms Erika Chiang, marketing director at moomoo SG.

The survey revealed that 86.4 per cent of respondents allocated between 10 per cent and 30 per cent of their monthly salaries to investing. This number should be more robust, seeing that Singapore is a financial hub, notes Ms Chiang.

Common barriers women face when investing

Singaporean women tend to invest conservatively in low risk, low return asset classes such as CPFIS schemes (23 per cent), and fixed deposit (14.8 per cent).

57.8 per cent of the respondents said they lacked the confidence in investing in assets such as exchange-traded funds (ETFs), Reits, and other options outside of their comfort zone.

“It's essential to diversify one’s portfolio with a mix of assets because it helps to balance out your risk,” says Ms Chiang. “Spread your investments across different markets, sectors, stocks and asset classes which align with your long- and short-term investment and financial goals. This will probably provide you with better protection against market volatilities.”

Another key finding: Women also want to feel fully prepared before they start investing with 29.6 per cent of women investors saying that they prefer to conduct their own research when it comes to financial advice.

“Most women are concerned about their ability to invest because they fear losing money. That is why moomoo exists: To provide you with all the necessary tools to make timely and sound financial decisions,” says Ms Chiang.

The all-in-one app platform – which has been operational in Singapore since 2021 –offers investors information, user-friendly features and functions, as well as up-to-the-minute news reports.

How moomoo empowers women investors

To help alleviate investor fear, the app has over 3,000 free educational content which you can access anytime. Ideal for both beginner and advanced investors, this content will teach them how the markets and investments work. Topics cover everything from inflation, to return on equity and more complex subjects such as Fibonacci retracements, which help investors identify strategic places for transactions and stop-loss orders.

Another invaluable tool: The paper trading feature which gives you the chance to experiment with market trading through a simulated trading strategy without having to risk losing capital.

“It is one of the ways to get introduced to the stock market while familiarising yourself with the potential psychological and emotional stress that arise from market movements and fluctuations,” adds Ms Chiang.

Learning investment strategies from the institutions is also easy thanks to moomoo’s institutional tracking capability. This feature enables users to keep close watch on top-tier fund managers’ portfolio movements and gain insights from their investing strategies.

This tracker draws data from quarterly position reports required of fund managers by the US Securities Regulatory Commission (SEC) from institutions with assets under management of more than US$100 million.

To evaluate your supply network and related stocks, you can refer to moomoo’s industrial chain auto mapping function which offers a comprehensive visual understanding of where popular industries are along the supply chain –  upstream, midstream or downstream. This tool uses artificial intelligence to gather its data in real time.

Moomoo also has an earnings calendar that helps users to track upcoming quarterly reports on a daily, weekly or monthly basis via an intuitive user interface.

“Moomoo contains an abundance of market data, news, features and tools that are not behind a paywall. As one of the fastest-growing fintech platforms in Singapore, we believe it is our mission to make investing equitable by providing investors with accessibility, thus empowering them to make sound and informed decisions,” adds Ms Chiang.

Be part of a growing community

All these tools are further supplemented by a social community that facilitates the exchange of insights and enables peer-to-peer learning.

The company holds a mix of online and offline seminars for community members to learn from industry experts. For example, through the Lunch & Learn sessions, retail investors are given access to some of the industry’s best educational resources.

Plus, the in-app moo community allows users to interact in real-time and share their pain points, worries and successes to uplift others on their journeys towards achieving financial freedom.

“Having a supportive community is essential in boosting one’s confidence,” says Ms Chiang. “I have met a lot of women investors who share that they do not feel confident only because they do not feel supported by their own communities.”

Still, Singapore women are on the right track, notes Ms Chiang as the survey results also revealed that Singapore women are keen investors who are making gradual progress in securing their financial future through investment.

Based on the observations that moomoo made through its survey findings, 33.4 per cent of female investors were enthusiastic about trading on the moomoo app, having performed at least three trades on the platform in the past three months.  Furthermore, 51 per cent review their portfolio on a quarterly basis, indicating their interest and proactiveness in managing personal investments. 

The moomoo app  has also noticed that its female subscribers carried more trades in the second half of 2022 by an estimated 54.2 per cent more as compared to the first half of 2022.

“It is an encouraging sign that Singapore women are stepping up to take charge of their finances,” notes Ms Chiang.

Moomoo SG is a next-generation digital brokerage that provides on-the-go trading and wealth management services. The company, which was launched on March 8, 2021, is celebrating its second anniversary. For more information visit moomoo SG or download the app.