Whether single, married, widowed, or divorced, women today seek ways to empower themselves and each other. This is especially true for finances and retirement planning. Women are taking ownership of money matters, asking tough questions, and making the choices that are best for their situations.
Women are financial powerhouses. In two-parent households, 63 percent of mothers work outside the home – with a majority of that group working full time.
1 . According to a 2015 study, 42 percent of mothers are primary household breadwinners – continuing an upward trend over previous years,
2 . Women are financial decision-makers. Women are the majority in the U.S. and already control about 51 percent of the country’s wealth,
3 . In fact, in a 2014 study of women between 25 and 70 years old, only 4 percent of women indicated they were not involved in financial decisions,
4 . Vast majority of women are likely to manage all household finances.
Between their growing influence in the U.S. workforce, and living longer on average than their male counterparts, 90 percent of all women will be solely responsible for their household’s financial well-being at some point in their life due to singleness, divorce, widowhood, or simply by choice. These statistics paint a clear picture. And now more than ever, it’s important for women to embrace financial responsibility and be empowered consumers.
Additionally, women are also navigating an industry that just a few decades ago was almost exclusively run by – and dealt primarily with – men. This shift leaves a lot to be explored as women and men approach, think about, and manage money differently.