Financial Planning for Women
Women often carry significant financial responsibility across their families and careers. Taking an active role in financial planning helps ensure your voice and perspective are reflected in the decisions that shape your future.
Women Belong at the Financial Table
Women manage many important responsibilities, and long-term financial planning can easily fall down the priority list. While 68% of women feel confident managing a household budget, only 19% feel confident selecting investments that support their goals.
We are striving to change that narrative by encouraging women to engage more deeply in these decisions and occupy an equal seat at the financial table.
Understanding the Factors that Shape Women’s Finances
Women often face financial dynamics that affect long-term planning.
Many take time away from the workforce to raise children or care for family members, which can reduce earnings and retirement contributions. Women also tend to live longer. The average life expectancy is 81 years for women compared with 76 for men.
These factors make thoughtful financial planning especially important.
Financial Guidance for Different Seasons of Life
Women often navigate financial decisions across several life transitions. Each stage brings its own questions and opportunities.
Married
Marriage brings together two people with different experiences and perspectives about money. Healthy financial planning begins with shared conversations and clear goals. We encourage both spouses to participate in financial discussions so that decisions reflect the priorities of the entire family.
Widowed
The loss of a spouse can create both emotional and financial uncertainty. Trusted guidance can help bring clarity during this difficult season. An experienced advisor can help organize financial responsibilities and support thoughtful planning for the future.
Divorced
Divorce often brings new financial responsibilities. Many women find themselves managing finances independently for the first time. Clear planning can help bring structure to income, expenses, and long-term goals during this transition.
Single
Single women make financial decisions independently but do not have to navigate them alone. Whether building a career, purchasing a home, or planning for retirement, thoughtful planning helps create direction and confidence.
"I suddenly and unexpectedly lost my husband from a heart attack and became a widow at the age of 58. Our Blue Trust advisor’s involvement in our lives and financial stewardship journey allowed me to walk through this difficult time in my life with clarity and confidence around my finances and investments…."
Lori T.*
The Growing Financial Influence of Women
51%
of American personal wealth ($22 trillion) is controlled by women
75%
of global spending is expected to be controlled by women by 2028
80%
of women age 65+ are more likely than men to experience poverty
80%
of household purchasing decisions are influenced or controlled by women
Confidence Grows Through Engagement
Many women feel they still have more to learn about investing and financial planning. Taking an active role in financial decisions helps bring greater clarity and confidence over time.
Only 14% of women say they know a lot about saving and investing, yet nine out of ten women plan to take steps toward financial independence.
Among their goals:
65%
want to improve their understanding of financial planning and investing
52%
plan to create a financial plan
86%
believe professional investment management reduces stress
Continue Learning
and Exploring
Financial wisdom grows over time. Explore additional articles and resources designed to help women navigate financial decisions and steward their resources wisely.
Sources
- https://www.newyorklife.com/newsroom/2024/survey-highlights-existing-financial-confidence-and-knowledge-gaps-between-men-and-women
- https://usafacts.org/articles/do-women-live-longer-than-men-in-the-us/
- https://wealthtrack.com/51-percent-of-personal-wealth-in-the-u-s-is-controlled-by-women/
- https://nielsen.com/insights/2020/wise-up-to-women
- https://nirsonline.org/2016/03/women-80-more-likely-to-be-impoverished-in-retirement/
- https://forbes.com/sites/forbescontentmarketing/2019/05/13/20-facts-and-figures-to-know-when-marketing-to-women/?sh=63f69ac01297
- Statistics under “You are Not Alone” are from Fidelity Investments’® 2021 Women and Investing Study.
- https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/about-fidelity FidelityInvestmentsWomen&InvestingStudy2021.pdf
