Retirement

Women on the Rise

Women on the Rise Conquering: Unique Retirement Challenges. Financial success is a goal for many, but women face unique barriers that can make that goal more difficult to achieve. Understanding today’s financial landscape can help women rise to the challenge, know their worth, and take control of their futures.

Daunting Realities Although history has seen some significant progress for women over the last century, there’s still a long way to go toward financial equality. Women make 82.3 cents for every dollar their male counterparts make in a similar job. (1) The average Social Security retired worker benefit for women is $16,496 per year, compared with $20,921 for men. (2) 46% of married women in their 50s in two-income households are at risk of being unable to maintain their standard of living in retirement. 32% of married women in their 50s in one-income households are at risk of being unable to maintain their standard of living in retirement. 40% of single women in their 50s are at risk of being unable to maintain their standard of living in retirement. (3)

Enormous Potential The truth is, women wield a huge amount of influence over the economy, and their impact is only likely to grow. Women control 51% of all personal wealth in the United States today. (4) Over the next 40 years, women stand to inherit $28.7 trillion in intergenerational wealth. (5) On average, women save 9% of their salary. That’s almost a full percent higher than men. (6)

Increasing Impact The numbers don’t lie: more women are successfully founding and leading businesses than ever, with impressive results. There are 114% more women entrepreneurs than there were 20 years ago. (7) Black women own 42% of new businesses owned by women and 36% of Black-owned employer businesses. (8) Women launch more than 1,200 new businesses every single day in the U.S. (9)

Support for the Journey Many women report having strong relationships with their financial professionals. In fact, 70% of women say they would refer their financial rpfessional to a friend or relative. Whatever your financial needs, we're here to help (10). Sources: 1. DOL.gov, 2021; 2. SSA.gov, 2020; 3. Prudential.com, 2019 (latest data available); 4. FA-mag, 2020; 5. Visualcapitalist.com, 2019; 6. Visualcapitalist.com, 2019; 7. WhattoBecome.com, 2021; 8. Forbes.com, October 26, 2020; 9. BusinessNewsDaily.com, 2021; 10. ML.com, 2021

Share |

Related Content

Financial Fixes: The Most Expensive Cheap Vacation

Financial Fixes: The Most Expensive Cheap Vacation

Many travel-loving millennials run up high credit card debt. Here are some ways to avoid travel credit trap.

9 Facts About Social Security

9 Facts About Social Security

There are things about Social Security that might surprise you.

Organizing Your Finances

Organizing Your Finances

Spark joy and become more confident by giving your finances the home organization treatment.

Have A Question About This Topic?

Get Financial News & Updates Delivered to Your Inbox

Experience Matters

As financial professionals, our firm is committed to helping people just like you create solutions for their retirement assets. Once we understand your risk tolerance, time horizon and goals, we'll work diligently to develop a program that carefully balances investment strategies with preserving principal.

Knowledge is power. It’s also the foundation for intelligent, well-considered decisions. When you have retirement in sight, those decisions are vital in helping you pursue your ... Learn More

Latest Blog Post

November Consumer Spending May Signal Brighter Holiday Season

December 06, 2022

As the year’s final month, December brings holiday gatherings and hopefulness for brighter days ahead in 2023. Looking back at how the economy performed in November, we saw lighter holiday-week trading at Thanksgiving...

Helpful Info About Midterm Elections & Market Performance

November 08, 2022

It is hard to believe we are in the midst of yet another election cycle. With inflation soaring, economic growth slowing, and extremely choppy markets, midterm elections seem like an afterthought. But on Tuesday, November 8th, 435...

The Energy Conundrum: An Informative White Paper

November 01, 2022

The energy topic has been central to many conversations during ongoing market volatility this year, and for a good reason. Oil and natural gas prices have fluctuated widely in recent years. Additionally, nearly every aspect of the...

Featured Team Member

Cindy Bryant, CFF®, CRPC®, RFC®
Managing Partner

“Everyone has a unique relationship with money, and it is fascinating learning the reasons why,” says Cindy Bryant, Momentum Financial Partners co-founder. “When I look back at my childhood and my own relationship...

Brett Fallon CFF®, CRPC®
Managing Partner

Brett is a Certified Financial Fiduciary® and a Chartered Retirement Planning Counselor® specializing in helping families that are facing transitional events.

Andrea Bryant
Director of Client Services

“I love my job because no day is ever the same. My job challenges me each day in different ways, so it is never boring. We work with some pretty amazing people!” Director of Operations Andrea Bryant says. Andrea has over 15...

Matthew Jones
Certified Financial Fiduciary®

“It’s fulfilling to help our clients. My job is interesting, challenging, and unique. There’s never a dull moment,” says Financial Planning Specialist, Matt Jones. “The atmosphere feels like family.”...

Marcus Moran
Medicare Planning Specialist

“Every year, the complexity of Medicare is put on display when seniors choose their Medicare plans for the following year.” said Marcus Moran, Medicare Specialist at Momentum Financial Partners. “People make mistakes,...

Donna Jewett

Donna Jewett will be the first to tell you she prefers to keep things real. It’s what makes her a really effective estate and trust lawyer. Direct, genuine, highly-informed and compassionate – these are the qualities that...

Michelle Boncel

AMB Consulting Services WebsiteAfter 14 years of working in public accounting and industry, I started AMB Consulting Services to create a custom accounting firm to help small business owners and entrepreneurs succeed in their...

Glenda Redman, CSA

Glenda Redman, Certified Senior Advisor (CSA)®, CDPServing Phoenix, AZ (Ahwatukee, Phoenix, Tempe, Paradise Valley, Scottsdale, and Cave Creek)Glenda brings an abundance of positivity and warmth to the Options for Senior Living...