September 8, 2025
Filed under: Women and Wealth
Known and Lesser Known Statistics about Women & Money
It’s no surprise that women in the U.S. live longer than men — on average, by 5.3 years (USAFacts). Longevity is a gift, but it also shapes the way women think about, manage, and preserve their wealth. Even women with significant resources tend to take a more conservative approach, recognizing that their financial strategy needs to last not just decades, but potentially a lifetime longer than their partner’s.
According to a Morgan Stanley whitepaper by Elizabeth Dennis, women in the US are projected to control two-thirds of U.S. wealth by 2030. Often the “Great Wealth Transfer” focuses on Gen X and Millennials inheriting from Baby Boomer parents, but the reality is that wealth most often flows first to the surviving spouse, and more often than not, that spouse is the wife.
Another striking statistic: 70% of women change financial advisors after their spouse passes away. That tells us something important: women aren’t being fully seen, heard, or supported in their financial relationships. Serving women well requires not just technical expertise, but empathy, understanding, and a different approach to wealth management.
Money is Like a Computer or a Reliable Car for Most Women
For many of the women I’ve worked with, money is less about status and more about security, freedom, and impact. They often see money like a computer or a reliable car, a tool that helps them get where they want to go.
That means the “fastest” or “best-performing” portfolio isn’t the goal. What matters more is confidence:
- Will I have enough?
- Will I outlive my money?
- Will this strategy support my values and my family?
Women tend to be especially interested in holistic planning — estate strategies, charitable giving, tax efficiency, and family dynamics — not just investment performance. In many families, it’s the women who drive philanthropic efforts and shape how wealth is shared, while men often stay narrowly focused on investments.
The Human Side of Wealth
One challenge I often hear from women of wealth is: “Can I be open about my financial situation with the men in my life?”
When women hold more financial power in a couple, it can introduce unique dynamics — sometimes even tension. Concerns about being taken advantage of, navigating money-and-power imbalances, or ensuring fairness in distributing wealth among children can weigh heavily. Women frequently approach money not only as a personal resource, but as a responsibility with ripple effects on their loved ones.
Why the Industry Falls Short
With less than 25% of financial advisors being female, women investors are often misunderstood, under-advised or dismissed. This is not a new trend; it’s one we have been discussing for decades. Based on a McKinsey study “Women as the Next Wave of Growth in Wealth Management”, there are unique needs and considerations when working with women:
- Women are more willing to pay for financial advice
- Women often report lower financial confidence (even when they have the knowledge)
- Women tend to be less risk tolerant
- Women are focused on real-life goals, not just returns
Unfortunately, the industry has not evolved to support the needs of women for a more human and practical approach to wealth, and it remains generally focused on the money itself and performance. In our own practice, we have found women are much more engaged when we take them through our life planning process and then align their wealth in service to their life goals.
Our Commitment to Women
As a woman-founded, diverse B corp firm, Omega Wealth Management is deeply committed to empowering and educating women about wealth. Our team brings both technical expertise and human-centered training to the table, enabling us to guide clients through life’s biggest transitions with clarity and compassion.
We believe wealth is about more than numbers. It’s about living well, making an impact, and creating a legacy that feels true to who you are. And that’s exactly the kind of wealth planning women deserve.
lisa