Women make up half the population of the U.S., are more likely to earn college degrees, and are directly responsible for raising the country’s median family income. Yet they still face deep economic disadvantages.
While women generally live longer than men, they only have half the retirement savings. They are also vulnerable to financial volatility—less likely than men to have a robust savings account, women suffer almost double the financial damage following a divorce. A recent analysis by the financial planning firm LearnVest found that a mere 27 percent of its female clients feel financially self-assured.
But when women seek out financial planning assistance, most will find themselves sitting down with a man. Even though some industry veterans indicate women prefer to be advised by women, financial planning remains one of the most male-dominated industries in America.