In a study done by Merrill Lynch in partnership with Age Wave, it was found that 70 percent of women believe that men and women have a fundamentally different life journey when it comes to career, family expectations, aging, and finances, reinforcing the need to better understand women’s financial concerns and opportunities. In recent decades, there has been a seismic shift in women’s personal and financial representativeness.
Since 2015, women or female run households have had control of more than 50% of our nation’s wealth. With this new wave of women investors and financial heads of household comes the need to identify what can be done to reinforce independence, mitigate longevity risk, encourage financial knowledge and education, and empower women to find their path to financial wellness. Financial independence affords women the confidence in meeting their financial obligations, experience the life that they want, achieve their goals and take care of loved ones.