Financial Planning for Women

“In January 2020, I suddenly and unexpectedly lost my husband from a heart attack and became a widow at the age of 58. Our Blue Trust advisor’s involvement in our lives and financial stewardship journey allowed me to walk through this difficult time in my life with clarity and confidence around my finances and investments….”

– Lori T. *
Middle River, MD

She considers a field and buys it; out of her earnings she plants a vineyard.

Proverbs 31:16

Why Focus on Women?

Women today manage many important responsibilities. Therefore, even women who are knowledgeable and equipped to make financial decisions find that their finances often fall to the bottom of their priority list. At Blue Trust, we believe it is important for women to engage in their families’ financial plans and goals.

Women often take a back seat when it comes to investment decisions and long-term financial planning. While 68% of women feel empowered to manage a household budget, only 19% feel confident selecting investments that align with their goals. We are striving to change that narrative by encouraging women to occupy an equal seat at the financial table.

Unique Challenges

Unique Financial Challenges Women Face

Women often take time away from the workforce to raise children or care for aging parents, which results in fewer years of earnings and less income to invest.

Although the wage gap is closing, it can still have an impact on women’s 401(k) accounts, Social Security retirement benefits, and overall savings.

Women tend to live longer than men with an average life expectancy of 81 years, while men average 76 years1. Therefore, women will likely need to stretch their retirement dollars further.

Sometimes women invest less aggressively to avoid risk and prioritize stability, which can result in lower returns.

During the COVID-19 pandemic many women experienced lost wages as they were heavily represented in health care, food preparation, and personal service occupations that were highly impacted by closures. Other women lost income due to increased demands on their time at home during the pandemic.2

1 www.womenshealth.gov/30-achievements/03#:~:text=Over%20the%20past%2030%20years,from%2087%20to%2090%20years

2 www.cgdev.org/publication/global-childcare-workload-school-and-preschool-closures-during-covid-19-pandemic

Tailored Advice

Customized Advice Tailored to Women

Our advisors are here to walk alongside women on their financial journeys. We meet women where they are and can provide everything from financial literacy resources to complex estate planning.

Women in different stages of life need customized financial advice to address their current circumstances. Click on a category to learn more.

Married Widowed Divorced Single

Married

Whether you work inside or outside the home, we recommend married couples manage their finances together. As the book of Genesis tells us, marriage joins two into one flesh. As individuals you bring different backgrounds, goals, and ideals to your marriage—especially regarding finances. It is important to recognize and discuss your individual temperaments and feelings about money so that you can align expectations and unite to determine the financial strategies and goals of your family.

Depending on whether you are newlyweds, raising a family, or nearing retirement, our advisors can provide wisdom and practical advice for each stage of life. Perhaps you are looking to purchase a home, reduce debt, save for education, give more to charity, or prepare for retirement. We meet you where you are and strive to help you meet your goals. We find it beneficial and encourage both spouses to attend financial meetings so that everyone can learn the same information, speak into the family’s goals, and collaborate on the decisions that are made.

Widowed

Blue Trust considers it a privilege to serve women as they move through life’s transitions. One of the most difficult seasons can be moving forward after the loss of your spouse. Having established relationships with trusted professionals can help during these difficult times by providing stability, clarifying immediate responsibilities, and planning for the future.

With a trusted advisor, women do not have to make decisions alone. Even if a woman was not previously involved in the financial planning process, a financial advisor can offer actionable steps to follow and assist with building a new financial plan for your future.

Divorced

Divorced women are often juggling many responsibilities on their own, including financial management. It can be a daunting season filled with emotion and many overwhelming tasks to handle. Blue Trust considers it a privilege to walk with women as they move through all of life’s transitions—the exciting ones and the challenging ones. Our advisors can help you organize your finances, determine if you have enough income to cover your expenses, and plan for the future. You are now at the helm of your ship, and we want to help you successfully navigate it with confidence and peace of mind.

Our advisors are highly trained and equipped to help you with all areas of finance including financial, retirement, and estate planning; investment management; cash flow and budget planning; charitable giving strategies; personal trust and estate settlement; and education planning.

Single

As a single woman, you are in control of your finances, but you don’t have to navigate that journey alone. Whether you are beginning your career, looking to purchase a home, trying to live more generously, or planning your retirement, our advisors are available to walk with you through those decisions and help determine the best path for you.

For single women, in particular, it is important to look at your spending, investments, and savings to ensure you are on the right track to meet your short- and long-term goals and plan for the future. Our advisors can help you in these areas as well as financial, retirement, and estate planning; charitable giving strategies; personal trust and estate settlement.

A Look at the Numbers

Your Role in the Financial Picture

Blue Trust believes women play a vital role in the financial picture, but so does the rest of the world when you realize the importance of women in the overall financial picture.

51%

OR $22 TRILLION
of American personal wealth is now controlled by women

By 2028 women will control

75%

of worldwide discretionary spending

80%

OF WOMEN 65+
are more likely than men to be impoverished

Women control

80%

of household buying decisions

You Are Not Alone

Even though only 14% of women say they know a lot about saving and investing, 9/10 women report planning to take steps toward financial independence. Among their goals are:

62%

of women would like to increase their understanding of financial planning and investing

52%

plan to create a financial plan to help them reach short- and long-term goals

86%

of women agree that having their investments managed by professionals makes life less stressful

Discover Financial Resources for Women

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Trust and investment management accounts and services offered by Blue Trust, Inc. are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, nor guaranteed by any bank or bank affiliate, and are subject to investment risk, including possible loss of the principal amount invested. CFP Board owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER® in the U.S.
*The client’s experience may not be representative of the experience of other clients and is also not indicative of future performance or success.
**All financials are as of 6/30/24 and subject to change.
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