and invest in education, savings, pensions and their retirement.

This was the message at a financial workshop for women last year held by Barrington Investments at the Royal Bermuda Yacht Club in Hamilton.

With more and more women moving into the work force, every year taking a larger chunk of higher paid jobs, investment has become a key issue.

These factors added to a soaring divorce rate means that financial security and independence are high on many Bermudian women's list of priorities.

Mary Burke-Cameron, of Barrington Investments, spoke to around 30 women of all ages and backgrounds at the event.

She said: "Take control of your finances. Take control of your life. We can show you how. The workshop will provide you with the information you need to take charge of your financial future.'' Mrs. Burke-Cameron told the group of women that before deciding on any plan, it was first necessary to assess the financial status and work out financial goals.

Repayment of debt was a first priority. Then plans would be worked out to best suit the goals, such as buying a house, retirement, children's education, and the risk tolerance of the person.

She said: "At what point do you lose sleep at night? When your portfolio drops 5 percent, when it drops ten percent or 40 percent. Then you make the changes which make it possible for you to sleep at night.'' Mrs. Burke-Cameron also said it was important to have discipline when saving.

"You have to have an idea of how much you can put away after financial expenses. You may say I can put X amount of dollars away, but you have to have the discipline to keep that in place.'' Mrs. Burke-Cameron said there were many obstacles in day to day living which stopped people saving.

"We all know it is worth it, so why doesn't everyone do it? Sometimes we are too busy so we put it off. A lot of people have unclear lifestyle goals. Do they want to retire at 35, 45 or 55? At other times it is lack of organisation, or lack of discipline.

"Sometimes these two come hand in hand. You may pay in X number of dollars the first, second and third month. But the fourth month the car breaks down, so the fourth month money goes to the car.

"But what you should think is `I am paying myself first because I will need it in the future.' Then the fifth month comes and goes without payment.'' Mrs. Burke-Cameron was keen to urge people to start investing early to make sure of a stable future.

"If you are a female at the current age of 30, you will have a life expectancy of 87. Say you have an annual salary of $50,000, and you want to retire at 60. Inflation is at 3 percent, and you can afford monthly savings of $900. When you retire your desired monthly income is $2,900.

"If you take a savings plan with a six percent investment, at 60 you will have $904,064. But this will deplete, or run out, at the age of 71.

"If you take on a savings plan at eight percent, at 60 you will have $1,341,324. But this again will deplete at 82. Both these options mean you will either have to reduce your standard of living on retirement or depend on someone else.''