5 Financial Strategies for Savvy Women
5 Financial Strategies for Savvy Women
If you are a woman who handles the financial decisions for your household, you are not alone. A recent study by the CFP Board Center for Financial Planning found that more than two-thirds of women report being their households’ primary decision-makers regarding investment choices.1
Whether you’re just starting out, have a solid strategy in place, or are already enjoying retirement, here are a few key considerations to keep in mind.
1. Build an Emergency Fund
Sometimes, when it rains, it pours—and being prepared for life’s unexpected storms, like a job loss, medical expense, or a natural disaster is one of the smartest places you can start. While credit cards or loans might offer temporary relief, being able to leverage cash savings will help you avoid potential fees and accumulating interest. A common goal is to set aside enough to cover six months of living expenses.
2. Protect Your Assets
It’s not all about saving—insurance can also play a key role in your financial strategy. While your employer may offer basic coverage, there could be other options worth considering. Having the right insurance coverage can help you protect what matters most and spare you from headaches down the road.
3. Never Stop Learning
Even with the guidance of professional, it’s still important for you to stay engaged and aware when building your financial strategy. The more you educate yourself on the financial hurdles that women often face—such as wage gaps, time out of the workforce, and longer average life expectancies—the better prepared you will be for whatever challenges life may bring.
4. Consider Investing Differently
On average, women live longer than men, which means you may have more years ahead that you will need to finance. Considering the unique financial needs and challenges that many women face, it may make sense to discuss longer-term investment strategies with your advisor that could be particularly advantageous to you.
5. Prepare Your Legacy
“Getting your affairs in order” doesn’t have to be a morbid exercise that you delay until later in life. Ideally, it’s something you have already given some thought to. While it can be uncomfortable topic, your estate planning decisions matter, whether it’s ensuring your beneficiaries are up to date, making extended care decisions, or preparing a legacy to leave behind.
Getting Started
With a savvy financial strategy in place and a knowledgeable team of professionals at your back, you can feel more confident about the future you are creating for yourself—and the one you leave behind for those you love.
If you have questions about your current financial approach or are looking for guidance on getting started, please feel free to reach out. Our team is here to help.
1Building Wealth: Insights on Women’s Aspirations & Growing Financial Power, CFP Board Center for Financial Planning, 2025.
Related Topics
Disclosures: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Concord Wealth Partners, or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Concord Wealth Partners. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Concord Wealth Partners is neither a law firm, nor a certified public accounting firm, and no portion of the newsletter content should be construed as legal or accounting advice. A copy of Concord Wealth Partners’ current written disclosure Brochure discussing our advisory services and fees is available upon request or on our website. Please Note: If you are a Concord Wealth Partners client, please remember to contact Concord Wealth Partners, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing, evaluating, and/or revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Concord Wealth Partners shall continue to rely on the accuracy of information that you have provided. Please Note: If you are a Concord Wealth Partners client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.
