November 28, 2022

A retirement plan is the cornerstone of someone’s financial future strategy, but it’s just one way to tap into the power of savings. As one 2021 Women and Investing study found, increasing numbers of women are claiming bigger roles in their own lives when it comes to corporate leadership as well as investing. 

In 2018, for example, only 44% of women invested outside of their retirement savings. However, by the end of 2021, that number rose to 67% of women. One McKinsey study determined that women will control over $30 trillion dollars before 2030, while today they only own $10 trillion.

Both representation and awareness have a role in helping to boost women’s numbers in investing and on corporate boards. Ten years ago, only 16% of S&P 500 directors were women, a number that grew to 30% today. Overall, the number of women members on corporate boards is also growing.

One of the big reasons that saving and investing are so important for women is that they tend to outlive their spouses, some of them for many years. A retirement and financial strategy built on both spouses’ financial contributions can be tricky, especially if one partner lives 10 or more years beyond the other. A holistic financial strategy that addresses some of these challenges and builds for this kind of possibility empowers women with more options and a better cushion overall.

If you’ve been looking to get more deeply involved in investing and would like someone to guide you through that process while keeping your personal goals and values front and center, Shah Total Planning is here to help with that. No matter where you’re at now, we’ll help you determine a course of action that sets you up for a more solid financial future.