Single women face discrimination in the workplace and by financial services providers, leading to a disparity in savings and pensions that can impact their ability to support themselves in retirement. As societal norms shift and more women choose to remain unmarried, the challenges they face are becoming more pronounced.

In the job market, single women often find themselves in lower-paid roles, making it difficult to save or invest for the future. Even in professional settings, they may face promotion discrimination based on their marital status, limiting their earning potential.

The housing market presents another challenge, with single women facing higher housing costs compared to men. This can make it difficult for them to afford a home or save for the future. In terms of savings and pensions, single women typically have less stashed away for emergencies and retirement compared to their male counterparts. This lack of financial security can leave them vulnerable to financial shocks and uncertain about their retirement prospects.

To overcome these challenges, single women can take proactive steps to improve their financial situation. By investing in stocks and shares ISAs, increasing contributions to pension schemes, and exploring options like Lifetime ISAs, they can build wealth and secure their financial future.

Financial services providers also have a role to play in supporting single women. By addressing the unique challenges they face, providing tailored financial advice, and fostering a supportive environment, these providers can help single women achieve better financial outcomes.

Ultimately, single women need to take control of their finances and embrace their financial independence. By stepping into their sovereignty and making empowered financial decisions, they can secure their future and overcome the penalties they face in a world not always designed for them.