Women & Investing

Financial Planning for Women: Why it’s so important for women to plan…


At Zando Financial, we are mindful of the need for financial planning for women. In the world of political correctness that we live in today, it may be a bold statement to say women need financial planning more than men. 

One would think that saving, investing and financial planning would not be gender specific. However, there are several factors that show us that it is, and why it's so important for women to plan carefully. They include: 

Life Expectancy

On average, women live longer than men.  Globally, the spread is five years while in the United States the spread is four years (81 average age for women vs. 77 average age for men).  Their longer life expectancy means women need more savings and have a greater need for financial planning to make their savings last longer, too.


Gender Gap

Women have made tremendous strides over the last several decades, but there is still a gender gap in income. Women currently make approximately 83 cents to their male counterparts $1.00*


Inconsistent Income

Income may not be steady due to “Gap Years."  Women tend to take more gap years to raise children or to help with aging parents. As a result, women's work gap years can equate to less savings and lower IRA, 401(k), or 403(b) balances, as well as lower Social Security benefits.



Whether it is amicable or contentious, divorce can have a profound effect on any financial situation.  If you are contemplating or in the process of getting a divorce, you not only need a good divorce attorney, you also need a solid financial plan to maximize the outcome for yourself and to make sure you are protected for the future.



Regardless of your work situation, don’t underestimate the value you provide supporting your family's lifestyle and financial future. 

If you work outside the home and/or are the primary breadwinner, you need to protect that income. If you are not working outside the home because you are raising children, remember how important your job is.  While it is not as easy to determine the amount of insurance you need, caregiver responsibilities are crucial and replacing what you do can be very expensive.  If insurance is “income replacement," imagine how much insurance is needed to replace what an at-home caregiver does on an average day!


Steps to Take to Help you get to Financial Independence:

  • Define what is important to you about money.  What are your values?  What are your goals?
  • Educate yourself.  Even if one spouse handles the finances, learn what is happening, where your money is. Who is the person or team handling your finances?  Do you know them? Do you speak to them and feel comfortable with them?
  • Don’t apologize! We work with many women who will give us paperwork/statements for our review, then apologize for not knowing anything about it. Don’t be sorry. We can help you.
  • Ask questions! Don’t shy away from asking questions out of fear or embarrassment.  By asking questions, you help educate yourself.
  • Be aware of your situation. Know what is going on with your finances.
  •  Learn about your Social Security benefits by logging onto: SSA.gov/myaccount
  • Generally, people like doing business with people they “know, like, and trust”. Find someone you know, like and trust and speak to them about financial planning, investing, saving, and anything else that may be on your mind.
  • Don’t be intimidated and remember you are in control!

For more information about financial planning for women,

call Zando Financial today

and let us guide you to financial independence.