Five ways to boost women’s financial confidence

Five ways to boost women’s financial confidence

A woman sits in her office, smiling.
04.14.2022

The past year has been a challenging one for many Americans, and it has had a meaningful impact on their financial confidence. Only 34% of Americans felt financially healthy closing out 2021, a 14% drop from the beginning of the year. Financial challenges weighed even heavier on women, with barely a quarter saying they felt financially healthy.

Women trailing men in feeling financially healthy

Chart. Women trailing men in feeling financially healthy.

Source: Empower and Personal Capital, Wealth and Wellness Index Survey, November 2021.

Empower research and recordkeeping data provide in-depth insights as to women’s sentiments and behaviors regarding planning, saving and investing. These insights point to five tangible steps employers can take to help boost women’s financial confidence:

  1. Empower them to set informed goals and expectations.
  2. Help them build emergency savings funds and pay off debt.
  3. Focus on closing the gender retirement savings gap.
  4. Offer and encourage the use of professional financial advice.
  5. Encourage financial planning.

To learn more about how to help increase women’s financial confidence, download the research brief. And to learn more about Americans’ overall financial confidence, click here.  

Five ways to boost women's financial confidence - for download.

 

“EMPOWER” and all associated logos and product names are trademarks of Great-West Life & Annuity Insurance Company.

Securities, when presented, are offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment adviser, Advised Assets Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.

©2022 Empower Retirement, LLC. All rights reserved. WF-1761450 RO2120439-0422

Recent Articles

  ("Site") has entered into an advertising campaign with Empower Personal Wealth, LLC ('EPW"), through which Site is paid up to $250 for each individual lead. The Site, due to such compensation, has an incentive to recommend EPW, resulting in a material conflict of interest. Individuals who are referred to EPW are not obligated to subscribe for investment advisory services provided by Empower Advisory Group, LLC ("EAG"). Those individuals who do subscribe for EAG's investment advisory services will not pay increased management fees or any other fees to Site, EPW, or EAG as a result of this campaign. Site financially benefits from referring individuals to EPW. Site is not affiliated with EPW or EAG.

Advisory services are provided for a fee by Empower Advisory Group, LLC (“EAG”). EAG is a registered investment adviser with the Securities and Exchange Commission (“SEC”) and subsidiary of Empower Annuity Insurance Company of America. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. All visuals are illustrative only. Actors are not EAG clients.

“EMPOWER” and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ©  Empower Annuity Insurance Company of America. All rights reserved.