Women and Investing
Taking control of one’s financial life is important for all of us, but women face unique challenges. Whether you are single, partnered, parenting, or planning for retirement, there’s a lot to watch out for. By understanding the financial challenges most women face, you can be better equipped to avoid pitfalls and pursue the life you want.
Where men once dominated financial affairs, the growing presence of women in the workplace and as heads of households continues to be a paradigm shift. As women have taken more responsibility for their long-term goals and financial health, they have become a force to be reckoned with. This brings an array of unique financial needs.
Women investors face special challenges that make financial literacy and advanced planning especially important. For example, women are more likely to outlive their husbands or have divorce disproportionally affect them, making long-term financial strategies especially critical.
We developed this guidebook as a resource for women who are seeking perspectives on how to take control of their financial lives. We encourage you to take notes as you read, and we hope you will find the information useful as you look to the years ahead.
Challenges Women Face
What is your definition of a successful retirement? Do you see yourself relaxing with friends and family? Or are you moving from one career to volunteering, a small business, or some other personal endeavor? One of the things that can help your retirement feel like a success is forming an effective retirement strategy. A conversation between you and a trusted financial professional can help you examine the challenges ahead and form your strategy.
While every woman and every family is different, research shows that American women face many of the following challenges:
Source: “2017 Profile of Older Americans.” Administration for Community Living, 2018.