Profound changes occur in the global financeance world today, named the Great Wealth Transfer. This shift is not minor; it it represents a significant movement occurring. UK platform Unbiased finds women are are now more likely to to get solo advice. Compelling numbers show seventy-four percent of of women seek advice versus sixty-five percent of percent of men. This shows growing women’s confidence in in taking a proactive approach toch to managing money alone.
This shift is not minor andand represents a significant movement occurring. UK platform Unbiased finds women are are now more likely to to get solo advice. Compelling numbers show seventy-four percent of of women seek advice versus sixty-five percent of percent of men. This shows growing women’s confidence in in taking a proactive approach toch to managing money alone.
Advice demand increases now,, coinciding perfectly with the with the Great Wealth Transfer’s’s immensity. Capgemini’s’s World Wealth Report says there are there are over eighty-three point five trillion wealth transfers globally. Women expect to to inherit a vastst sum of around forty-seven trillion dollars now. This wealth influx puts new responsibility and opportunity into women’s’s hands.
Often they navigate complex finance areas not encountered solo previously. The Centrentre for Economics and Business Research notes the UKe UK trend. They predict women will will own sixty percent of of UK wealth by the by the close of 2025. Growing ownership increasingly increasingly requires personalized, expert guidance. Future women are not just recipients of wealth; they are actively managing it.
Planning their own finance paths for long-term security, they look ahead. Life-changing events serve as key triggers driving this advice surge. Unbiased research finds women’s assets linked to significant transitions. Inheritances are a major factor; nineteen percent of women expect one.
Twelve percent of women mention property sales compared to nine percent of men. Divorce settlements are a common catalyst for women seeking advice too. Receiving inheritance, selling property, or navigating divorce complexities matters. These moments are often the first time women face substantial assets alone.
Survey links marital status specifically to seeking advice alone more. More women than men reported being single, divorced, or widowed. Among women seekers, twenty-six percent were single when looking for financial help. Twelve percent were divorced compared to only four percent of men seeking advice.
Six percent of female seekers were widowed, compared to just three percent of men. These statistics paint a picture of women facing financial realities solo and motivated. Navigating asset division after divorce drives the need for help. Managing finances after losing a spouse needs expert guidance too.
Consider the story. Nancie McLeod is a designer and realtor from Etobicoke. Fifteen years ago, at age fifty, she divorced, starting finances over. Ms. McLeod shared she didn’t have any savings then. Her experience was shaped by marriage, where finances were not discussed openly.
This led to her lack of financial literacy knowledge. The situation is unfortunately not unique; many women learn this later. Ending marriage means rapid immersion in personal finance issues. Ms. McLeod saved during marriage, but income supported the family primarily.
After the divorce, rebuilding her finances became the top priority on the list. A loan from her sister helped her buy a home quickly. This was a crucial step for re-establishing her financial foundation after the split. Crucially, she sought advice from a financial adviser soon after.
Talking to other women in similar situations opened her eyes. She saw how widespread her minimal finance knowledge was across women. Thank goodness I’m not the only one, she reflected later. Holy cow, our financial literacy is in dire need of help, she concluded.
Experts field confirm Ms. McLeod observes a financial literacy gap exists. Zena Amundsen, CFP, in Regina, points out that gender divisions of labor at home exist. Many women focus on running family caregiving duties, she explained clearly. Lack financial education, not intelligence. Amundsen clarifies simply.
It’s rather about exposure and the chance to engage with finance directly over time. This division of responsibility can leave women less prepared for later life. Especially when confronting unexpected life changes, they face financial difficulties. This lack of readiness becomes apparent painfully during divorce proceedings.
Julie Petrera, senior strategist at Edward Jones, highlights this unique challenge. Many women find themselves without knowledge later managing finances. Because someone else’s household managed finances for them previously. They were never taught formal household finance control. They never practice managing money informally.
This can cause surprises like learning they no longer split income. This change impacts the tax situation and overall financial plan significantly later. A 2024 Edward Jones survey supports this point on a larger scale, it seems. Only a quarter of Canadian women learned money management in the school curriculum.
Thirty-five percent of men said they got money lessons at school. This early difference in financial education has long-lasting effects for many. It contributes to knowledge gaps appearing in transitions like divorce or widowhood. Women suddenly handle all finances alone during this time, often.
Beyond immediate challenges like life events and literacy gaps are hurdles. Women face systemic headwinds, making proactive finance planning critical always. The persistent gender pay gap remains a significant factor holding women back. In 2025, full-time women earn just eighty-three percent of men.
This small difference compounds career leading to lower lifetime earnings potential. The National Women’s Law Center says women miss hundreds of thousands of dollars. This loss happens over a forty-year career due to this pay disparity. Lower earnings impact the ability to save for retirement and build wealth goals.
While advocating higher pay helps narrow the individual gap that exists. Systemic pay inequality is a financial consideration women cannot avoid, it seems. Every dollar earned and saved now counts significantly more. Optimizing those savings investments becomes crucial to gaining financial independence.
Adding complexity to the layer are career breaks women are more likely to take. This occurs because women continue to share caregiving responsibilities disproportionately. They care for children or other members of the family needing support. Analysis US Census Bureau data shows mothers are four times more likely to miss work for childcare.
Taking time off from the workforce, even temporarily, pauses retirement contributions. Can lose years of potential compounding growth potential too. While increasing contributions makes return work possible, catching up is hard. Strategies using spousal IRAs, if applicable, help savings momentum during time away.
However, in reality, these career interruptions create shortfalls in long-term savings often. Shortfalls need careful planning to address later successfully. Discussing potential breaks mitigating financial impact, financial advisors are valuable, many women feel. The cumulative effect of the pay gap, career breaks, and unforeseen managing alone leads to stress.
A survey by Northwestern Mutual found that a high percentage, eighty-nine percent, of women experience money worries. Despite high concern and need for guidance help. The same survey showed more than half the women had never worked as finance advisors before. This highlights a significant disconnect that exists for many women seeking help.
The need for and desire for financial security are high, but accessing expert help is not yet a universal fact. Breaking barriers is crucial. Karen Barrett Unbiased founder states. Great Wealth Transfer: a unique moment of opportunity for women to gain wealth. The first time many manage wealth independently, they make financial decisions solo.
Women should not just focus on preserving wealth goals, she emphasizes. You should feel empowered to grow it, invest in it, and plan for the future. A qualified financial advisor provides expert insight needed to confidently build the future. Advisers help women make informed choices reflecting personal goals and aspirations too.
Related posts:
Women most likely than men to seek financial advice alone – Unbiased
Women take the financial reins: Unbiased reveals surge in solo advice
Future Financial Adviser: Why there is a wealth of opportunity for women
