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Honoring Women’s History Month: Women and Investing

Honoring Women’s History Month: Women and Investing

March 06, 2024

The women’s anthem, “You’ve come a long way baby”, has never been truer. Women wield more financial influence now than ever, despite historical factors that traditionally held women back. The reality is: That when a woman controls her own money, she controls her life. So, for a woman to reach her goals and her potential, and fully own her future, she needs to grow her wealth.

Muriel Siebert was the first woman to buy a seat on the New York Stock Exchange. After that milestone purchase in 1967, she went on to start her brokerage firm and later donated millions to help other women get their start in business. Back then, Muriel was an anomaly.

Now, women are managing more wealth than ever before — about $10 trillion, or a third of total US household financial assets. And women’s financial influence is about to surge, over this next decade, American women are expected to control much of the $30 trillion in financial assets that baby boomers will accumulate—a potential wealth transfer of such magnitude that it approaches the annual GDP of the United States.

Women, as wealth builders and money managers, have over the years been labeled with stereotypes and myths. It’s true that as a generalization, women do approach managing money differently than men. They are often more concerned about reaching specific financial goals and securing their retirement. They want to feel in charge of their future.

On their own, women tend to be more risk-averse, keeping more money in cash, which means that the cost of living vs. being well invested could cost hundreds of thousands of dollars over a lifetime.

Despite negative stereotypes… bad with money, too emotional, risk adverse, data from the International Monetary Fund shows that the presence of women in leadership positions at banks and other financial institutions appears to be associated with greater financial resilience and stability. It is also the same for individual accounts managed by women, too.

Keeping in mind that actuarial statistics show women live an average of five years longer than men, there could not be a better reason to review your financial health than during Women’s History Month. It’s never too late to ensure your future.

Our One Financial Services team is here to answer your questions and provide you with options that will help you make your own history.