Financial Planning for Women — Are you Prepared for your Future?

Women & Wealth: Why Financial Security Starts with Planning

March is Women’s History Month, a time to commemorate and celebrate women’s vital role in American history.

But there is a sector of American life in which women are still largely underserved — financial planning and security.

Women have a ton of clout in the marketplace, community affairs, education, business, politics, and finance. All you have to do is follow the data to see that this is true:

• Women comprise 51% of the U.S. population and a whopping 65% of the workforce.

• They are the sole heads of 32% of American households, represent 60% of college students, and control over 80% of spending in the U.S.

• Fortune reported that women control about $14 trillion in the United States — the equivalent of the combined GDP of China and India.

Despite this economic influence, they face additional challenges: caregiving, longer life expectancy, and earning less with age.

Let’s look at the numbers:

• According to CDC data, men in the U.S. live to 76.3 years on average, while women live to 81.4.

• 71% of people aged 85 or older are women, yet their median income is only 53% of that of older men.

• Women provide 70% of unpaid caregiving — making them 2.5 times more likely to end up in poverty than non-caregivers.

• Single women? Four times as likely to end up in poverty as married women.

Despite their influence and responsibilities, women lag behind men in financial planning — but that doesn't have to be the case.

Women & Financial Planners

With higher representation in education, the workforce, and financial decision-making, why are women still underserved in the financial services industry?

There’s a clear gap between women who have a financial planner and those who need one. CNBC reports that women are making more financial decisions for their families, yet 75% of women under 40 still don’t have a financial advisor.

Why? One factor may be lack of representation. According to Barron’s, only 15–20% of financial advisors are women.

Gender dynamics in the financial industry can contribute to miscommunication, stereotyping, and discomfort. Surveys show over 70% of women with financial advisors feel underserved or misunderstood.

The industry is waking up, but there’s still room to grow — and that means it's time for women to advocate for their needs.

How Can Women Establish Financial Security?

1. Plan for the Future

Planning is critical, especially when you expect to live longer than your spouse or peers. Use tools like this guide on knowing when it's time to retire, and speak with a financial advisor to map your personal retirement needs.

2. Life Insurance

Life insurance is often overlooked — until it’s needed. Whether it's for yourself or your spouse, it's a key part of a sound financial plan. Talk to a trusted advisor about coverage that protects your loved ones.

3. Estate Planning

Have you designated who handles your affairs if you’re incapacitated or gone? If not, this is your sign. Our estate planning blog, Legacy by Design, walks through why every woman — especially those with dependents — needs a plan.

4. Long-Term Care

With most caregiving roles falling on women, it's crucial to plan for your own long-term care. It’s not just about physical needs — it’s about financial preparedness for life’s later stages.

5. Know Your Risk Tolerance

Many women are typecast as conservative investors. But that’s often based on outdated stereotypes. Knowing your personal risk profile helps you invest with confidence. Read our guide on how to determine your risk tolerance.

6. Make Financial Independence a Goal

Whether you're 25 or 55, it's never too early or too late to start working toward financial independence. Explore our post on 4 tips for achieving and preserving financial independence for inspiration.

It's About You

If you're among the 75% of women without a financial advisor, now is the time to take control.

Look for someone who listens. Someone who understands your unique goals and helps you build a custom plan to get there. Whether you're just starting out or preparing for retirement, you deserve a financial advocate who puts your needs first.

At NEST Financial, we’re proud to support women in every stage of life. Whether you're looking to grow your wealth, protect your assets, or simply learn more — we're here for you.

📧 Reach out to us at info@nestfinancial.net to start your personalized financial journey.

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DISCLAIMER: The information and opinions shared in this article are for educational purposes only. They are not financial planning or investment advice. For guidance tailored to your unique goals, drop us a line at info@nestfinancial.net.