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.
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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.
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 certified 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. “I’ve seen how easily a lack of planning can leave women financially vulnerable,” she says. “Without a strategy in place, years spent caring for others may leave you unprepared to care for yourself later in life.”
A sound financial plan should reflect the dreams, values and priorities of both partners – not just the income earner.
Potgieter stresses the importance of both spouses attending planning meetings. “Even if you’re not earning, your voice matters. Be present, ask questions, and understand where the money is going, what’s being saved, and how those plans support your joint vision.
Just because you’re not earning doesn’t mean you forfeit your say in financial decisions. Managing a household and raising children is a full-time job, and your contribution is vital.
Potgieter often hears women say, “I’m not contributing financially, so I don’t feel I have a say” – a mindset she encourages women to shift.
“Money should be a shared responsibility. Decide together who does what, and make sure both partners stay informed. I've seen long-term plans unravel simply because one person was left out of the loop.”
All too often, the income-earning partner builds wealth in their name, while the stay-at-home partner manages day-to-day spending.
Potgieter advises women to keep contributing to investments in their own name, no matter how small the amount. “This keeps your financial identity alive and ensures that both partners are building future security.”
If the household budget can’t accommodate two separate investments, discuss ways to share contributions more equitably so both partners benefit in the long run.
Even without a salary, you are your most valuable asset. Potgieter urges women to keep learning, upskilling, and maintaining their networks. “Whether it’s a short course, a part-time project or a creative hobby, stay connected to your talents and ambitions.”
She recalls a client, Nicola, who redefined her career after years at home with her children. “She wove her passion for wellness into her physiotherapy practice and found a new purpose in midlife. That’s the power of investing in yourself.”
“Budgeting isn’t about depriving yourself – it’s about aligning your money with your values,” says Potgieter. She encourages women to question expenses: “Do we really need that luxury holiday? Could we opt for a more affordable school?”
Living intentionally ensures you meet your current needs while still planning for the future.
Even without an income, continue contributing – however modestly – to your long-term savings. Financial independence is not just for working women; it’s a right every woman deserves.