Preparing for the future is one of the most important aspects of financial strategizing, and a lack of involvement often leaves women, in particular, potentially exposed to financial hardships later in life. Women investors face several challenges to building wealth and helping secure their financial futures and should take an active role in their financial future, long-term goals, and financial health. As they face these responsibilities, women investors face special challenges that make financial literacy and advanced strategizing especially important. 

Women face certain obstacles in investing and handling their financial lives. Ideally, women should take time to acknowledge and explore these challenges with their families and trusted financial professionals. Determining the right solutions to these unique financial situations is critical. What we see here is that gender, income and investing are interconnected.  Women face systematic disadvantages at many levels, from earning, spending right through to investing and retention.  Personal finance for women is not as simple as “spend less than you earn”. 

When I talk to women about their money, I encourage them to think of it as a vehicle for realizing their personal vision of success. Through thoughtful planning, you can garner the financial freedom to pursue your dreams, bring stability to your life and the lives of your loved ones, handle the inevitable obstacles life throws in your path, and contribute to the causes close to your heart.  That all sounds great, but how do you get started? There are a few basic steps for developing a money management strategy. First, define your goals. Some of the things you’ll want to consider are the personal and professional milestones you hope to achieve in the short- and long-term. You might ask yourself what being financially comfortable means to you. Even if it seems far away, you should begin to think about what an ideal retirement will look like, whether it’s traveling the world or moving close to your grandchildren.