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Women and Investing

| June 21, 2017
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Preparing for the future is one of the most important aspects of financial strategizing, and a lack of involvement often leaves women, in particular, potentially exposed to financial hardships later in life. Don’t expect a spouse, partner, or other family member to help ensure financial security.

Women investors face several challenges to helping build wealth and helping secure their financial futures, and should take an active role in their financial future, long-term goals, and financial health.

As they face these responsibilities, women investors face special challenges that make financial literacy and advanced strategizing especially important. For example, women are more likely to outlive their husbands or have divorce disproportionately affect them, making long-term financial strategies especially critical.[i] Consider these facts:

  •  American women who turn 65 this year have a life expectancy of 86.6 years,[ii] while American men who turn 65 this year have a life expectancy of 84.3 years.[iii]
  • Women have a 26% larger retirement savings shortfall than men.[iv]
  • Median 45-year-old female’s projected savings shortfall for retirement at 65: $268,404.[v]

 Women face certain obstacles in investing and handling their financial lives. Ideally, women should take time to acknowledge and explore these challenges with their families and trusted financial professionals. Determining the right solutions to these unique financial situations is critical. That way, women can have a more effective long-term strategy and can pursue a comfortable, more secure retirement. While every woman and every family is different, research shows that American women face many of the following hindrances[vi]:

  •  60% of women worry about having enough money throughout retirement.
  • 65% of women are less likely to talk to their partners about investment ideas than other topics.
  • 47% of women feel comfortable talking with a financial professional about money and investing.
  • 21% of women do not know if their workplace retirement plan providers offer financial guidance.
  • 53% of women are not confident enough to talk to financial professionals on their own.

Engage your partner, spouse, or other family members in regular discussions about money. This way, everyone is kept informed of important financial strategies and future goals. These discussions don’t have to revolve around worst-case scenarios. A fun activity can be to dream together about future goals or retirement strategies. Additionally, to help foster financial wellness in future generations, we encourage parents to bring their children into the conversation. Ideally, they will openly talk about and understand the family legacy and estate plans.

We are here to help you each step of the way, so please let us know if you have any questions about these tips or the bigger strategies that are helping guide you to your financial future.

Kind Regards,

Tom Castillo

LPL Wealth Advisor

Footnotes, disclosures, and sources:

These are the views of Platinum Advisor Marketing Strategies, LLC, and not necessarily those of the named representative, Broker dealer or Investment Advisor, and should not be construed as investment advice. Neither the named representative nor the named Broker Dealer or Investment Advisor gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your financial advisor for further information.

We have not independently verified the information available through the following links. The links are provided to you as a matter of interest. We make no claim as to their accuracy or reliability.

Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

[i] “The Divorce Gap.” The Atlantic Monthly. [Accessed June 14, 2017]

[ii] “Calculators: Life Expectancy.” Social Security Administration. [Accessed May 30, 2017]

[iii] “Calculators: Life Expectancy.” Social Security Administration. [Accessed May 30, 2017]

[iv] “2015 Gender Gap in Financial Wellness.” Financial Finesse. [Accessed June 14, 2017]

[v] “2015 Gender Gap in Financial Wellness.” Financial Finesse. http://www. [Accessed May 30, 2017]

[vi] “Money Fit Women Study: Executive Summary.” [Accessed May 30, 2017]


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