Financial Planning for Women

“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.

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

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

Blue Trust recognizes that women play a crucial role in the financial landscape, and when you consider their impact, it’s clear that women are essential to the broader financial picture.

51%

or $22 trillion

of American personal wealth is now controlled by women

75%

of worldwide spending

will be controlled by women by 2028

80%

of women 65+

are more likely than men to be impoverished

80%

of household buying

decisions are controlled by women

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:

65%

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

True Riches:A Series of Webinars on Wisdom and Finances. For Women. By Women.

Explore our inspiring webinar series, designed by women, for women. No matter where you are in your journey, you’ll find valuable insights. Topics include:

Living a purposeful life and discovering God’s calling for you
Financial planning 101
Building confidence in investing
Leaving a lasting legacy with renowned worship artist, author, and speaker Christy Nockles

Explore The Series