Adapting to Women Investors
It is not only the ever-changing economic and investment environment that warrant adaptation. Over the past several decades, women have grown to be an influential financial force. More than ever before, women are career-driven, leading major corporations, and running their households. In the U.S., while only 32% of women were in the labor force in 1948, women’s participation in the labor market has grown to 57% in 2019.1 According to Boston Consulting Group, female private wealth increased from $34 trillion to $51 trillion between 2010 and 2015, and that number is expected to grow to $72 trillion by 2020.
With increased longevity, women are also expected to live longer than men, on average. According to the Social Security Administration, a 65-year old woman can expect to live to age 86.5, while a 65 year-old male’s average life expectancy is age 84. Since many women tend to marry older men as well, it is three times more likely for women to be widowed than men.2 Further, the National Center for Women and Retirement indicates that 90% of women will be solely responsible for their financial decisions at some point during their lives.3loughlin_adapting-to-women-investors