women in wealth

What Women Say about their Finances

At some point in their lives, women likely will be in charge of their family's finances.1 Women have increasingly become the sole or primary breadwinners for their families and often take a leading role in educating the next generation in financial matters.

In a 2021 survey, women indicated that they are less confident in fully funding their retirement, with just 20% of women highly confident they will have enough money to maintain their lifestyle in retirement compared with 25% of men.

Other things we're hearing from women:

2

of women believe that the stock market is a good place to grow their retirement savings, while over 76% of men believe so.

of women have a written plan for finances and retirement compared with 44% of men

four out of five affluent women take time to analyze and evaluate before deciding on a course of action

of affluent women see themselves as resilient in times of uncertainty

  1. "Women's Quick Facts: Compelling Date on Why Women Matter." STEMconnector®, November 2016

  2. Wells Fargo/Gallup Investors and Retirement Optimism Index, February 2021; Wells Fargo Survey of Affluent Women, March 2021.

overcoming the challenges

The impact of lower salaries and extended career breaks can cause disadvantages for women investors. With a 16% salary gap, on average, a woman would need to save about 20% more to break even. 3

At Shore to Summit, our goal is to empower women to learn, invest, and gain confidence in their participation in the markets. The data collected by Wells Fargo Advisors shows that women who do invest exhibit several important strengths, including discipline, willingness to learn, and risk-taking that leads to attractive returns. 4 We serve as a built-in support system for our clients who are women, and as a part of our mission to help each client reach their personal financial summit, we are especially attuned to the unique challenges that women investors may face.

  1. Bureau of Labor Statistics (BLS) and Wells Fargo Investment Institute, as of March 7, 2022.

  2. Gender Differences in Performance at Wells Fargo Advisors, Wells Fargo Wealth & Investment Management (WIM) Analytics, July 2021. Average annual trades over a five-year period from January 1, 2016 – December 31, 2020.

42% of our Team is Made Up of Women

“I can't overemphasize the necessity of women supporting women in our industry and in the world. I am where I am today because of the women surrounding me in my life and career who have helped me, invested in me, and believed in me."

— Kelly Brown, CRPC®, Managing Partner