Women's Wealth

Women's Wealth

Future Trends in Women's Financial Control

By 2028, women are projected to control 75% of discretionary spending globally and hold 66% of all wealth in the U.S. by 2030. This shift, driven by education and wealth transfer, will influence product designs, from cars to homes, tailored to women consumers. Additionally, 70% of women change financial advisors after their spouse's death, preferring advisors who understand their needs better 1.

Women Entrepreneurs and Wealth

Although women run over 40% of U.S. businesses, they account for only 4% of small business revenue. Notably, only 2% of women-owned businesses surpass $1 million in annual revenue. This disparity underscores the importance of highlighting successful women entrepreneurs and addressing systemic challenges faced by diverse groups, such as those with disabilities or from minority backgrounds 2.

Gender Roles in Wealth Building

In heteronormative relationships, men typically handle wealth-building decisions, while women manage day-to-day finances. Changing this dynamic is crucial for reducing the wealth gap, as women must be encouraged and socialized to engage in wealth-building conversations and pursuits more actively 3.

Women's Investment Performance

Women outperform men in investing by 40% but invest 40% less than men. This gap indicates a need for more women to engage in investing, supported by communities that provide guidance and encouragement 4.

Investing for Women

Investment is vital for women to build a lasting financial legacy, especially given their role as primary caregivers and the persistent pay gap. Investing helps counterbalance these economic disadvantages by leveraging their savings into wealth 5.

Impact of the Pandemic

The pandemic has amplified gender wealth disparities, with women bearing a disproportionate financial burden. The gender wealth gap persists at $0.30 to a man's dollar, and even worse for women of color. Women must focus on saving, reducing debt, and investing wisely to navigate these challenges 6.

Empowering Financial Mindset

Women often struggle with negotiating for themselves, tending to accept lower offers or negotiate down. Building confidence through a "brag binder" of accomplishments can help women assert their worth and negotiate better 7.

Pursuit of Wealth

The pursuit of wealth should not be stigmatized, as financial stability provides options and reduces stress for marginalized groups. Encouraging women to seek wealth enables them to support their communities and build a more inclusive society 8.