Retirement Planning for Women

Today, women control a third of the total U.S. household financial assets—more than $10 trillion. In less than a decade, that number is expected to significantly increase to $30 trillion.¹

As American women receive this unprecedented wealth and become more universally involved in household finances, financial professionals may want to consider how they can use this as an opportunity to offer their guidance and build their businesses.

The Rise of Female Investors

Ever-evolving social and economic structures have affected women's roles, responsibilities, and financial needs.

More than 90% of women believe they need to be more involved in financial strategies.²
62% of women express strong interest in learning more about finances and retirement planning.²
69% of working women choose to manage their own savings.³

Challenges Women Face in Retirement Planning

Helping women overcome their unique obstacles to the retirements they envision can help you add even more value to your practice.

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Increased Longevity

Women are projected to live approximately six years longer than U.S. men.⁴ Their retirement income needs to last longer.

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Wage Gap

Women are expected to make $399,600 less than men over a 40-year career. The gap increases to $1,218,000 for Latina women, $884,800 for Black women, and $187,616 for Asian American/Pacific Islander women.⁵

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Widow's Tax Implications

The loss of a spouse can come with a costly surprise—especially for older women. Tax obligations can be significantly higher when newly widowed clients file as single.⁶

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Motherhood Career Shifts

Higher-earning women can expect to experience a 60% drop in income after having a child as compared to their male partners.⁷ This can be due to many factors, including shifting to part-time work, leaving the workforce, etc.

Strategies to Help Every Woman Thrive

Use these resources to help inform every type of client through individual circumstances and goals.

Widows
Primary Breadwinners
Divorcees

Help widows navigate tax implications and other complex financial situations after the loss of a spouse, including managing estates, understanding pensions and Social Security retirement benefits, and planning for long-term financial well-being for themselves and their families.

Help female breadwinners with planning strategies to address pay disparity, career interruptions, and balancing family responsibilities.

Help divorcees navigate the complexities of the division of assets, income changes, and the fundamentals of their new financial realities.

Need More Reasons to Focus on Women?

By 2030, women are projected to own $30 trillion in assets¹, but it is estimated that about $700 billion of their revenue opportunity is being left on the table⁸. Discover how to find, engage, and retain female clients with our personalized presentation on prospecting for women. Plus, find more materials to aid your conversations with women in our client materials section.