Women Face Unique Financial Challenges

Women today are in a strong position to pursue financial security for themselves and their families. But women often face unique financial challenges. Certainly, not all women will face each of these challenges. Many different life stages and characteristics define women: single, married, widowed, employee, small business owner, breadwinner, stay-at-home mom, empty nester, retired, knowledgeable investor, novice saver, and so on.

Nevertheless, it’s likely you’ll face at least some of these challenges, so it’s important to recognize them and take necessary steps to move forward financially — regardless of the life stage you’re in.

Steps Women Can Take

Despite the challenges women face, they are in a strong position to achieve financial security for themselves and their families. Women make up almost half the total workforce and account for more than half of all workers employed in management, professional, and related occupations.

Now, more than ever, it’s critical that women know how to save, invest, and plan for the future. At almost any stage of adult life, there are things women can do to help ensure their financial security.

You’re interested in taking control of your money, but you find yourself in situations like:

• Sitting quietly while the men talk about money (maybe even yours), worried you’ll sound silly if you speak up

   

• Watching the news and wishing you knew more, but the whole financial world feels so complex and intimidating
• Not wanting to become one of those women who gets taken for all her savings

You’re good at what you do (hobbies, career, and running your busy life), but the feeling in control of your financial life feels so out of reach and overwhelming.

Yet letting the men have all the control AND giving up your goals and financial ambitions don’t feel right to you either.

And you definitely don’t want to retire years from now, look back and think, “If only I had taken hold of my financial strategy back then, I wouldn’t be clipping coupons and waiting for my check each month.”

Does it feel like the financial industry ignores your concerns, without even knowing what they are? You’re not alone.

The good news is it’s not nearly as complicated as it may seem. You CAN take control without your money feeling frustrated and out of reach.

Certain people in the money management industry benefit from making finances look too complicated for anyone who isn’t “numbers-oriented.” They’re the ones who just want you to hand your money over to them and let them do what they want.

Fortunately, that’s not how money management has to work. And it’s increasingly important, especially for women, that it doesn’t work that way.