{"id":22087,"date":"2025-11-05T05:49:39","date_gmt":"2025-11-05T05:49:39","guid":{"rendered":"https:\/\/incredipros.com\/?p=22087"},"modified":"2025-11-05T05:49:40","modified_gmt":"2025-11-05T05:49:40","slug":"these-financial-planners-have-a-message-for-women-youre-in-charge","status":"publish","type":"post","link":"https:\/\/incredipros.com\/?p=22087","title":{"rendered":"These financial planners have a message for women: You’re in charge |"},"content":{"rendered":"
\n \n

Building wealth is hard. For women, it\u2019s even harder.<\/p>\n\n\n\n\n\n

Women typically earn less than men. When trying to move up, many find that bias is still the norm in many corners of the American workplace. They\u2019re more likely to take breaks from work or shift to lower-paying jobs to raise children or care for aging parents. Research also shows they\u2019re less likely to be confident investors or successfully ask for a raise.<\/p>\n\n\n\n\n\n

Over time, that adds up to lost earnings, lost savings and lost wealth.\u00a0<\/p>\n\n\n\n\n\n

The reality is: Women have to be more deliberate with their money just to reach the same level of financial security as men. They often have to game a system that wasn\u2019t designed for them. That means being extra intentional about earning, saving, investing and building their financial knowledge.<\/p>\n\n\n\n\n\n

So, what does that look like in practice?<\/p>\n\n\n\n\n\n

We asked three certified financial planners who have advised hundreds of women to share their best advice for building sustainable, long-term wealth. Here\u2019s what they recommend.<\/p>\n\n\n\n

\n \n

\n Most working women won\u2019t see equal pay before they retire, Bankrate analysis finds\n <\/h3>\n \n \n
\n Here\u2019s exactly why it\u2019s taking so long. Read more.\n\n <\/div>\n\n <\/div>\n\n\n\n\n

Fear is expensive. Start investing today.<\/h2>\n\n\n\n\n

Most people think building wealth is just about making more money. That\u2019s just part of it, says Betty Wang, founder of BW Financial Planning.<\/p>\n\n\n\n\n

\n
<\/figure>
\n\n

It\u2019s also about knowing what to do with your money once you make it, which is a routine problem for many women, Wang says.<\/p>\n\n\n\n\n\n

\u201cWomen tend to be great savers, but they often keep too much in cash because they\u2019re afraid of making a mistake,\u201d she says. \u201cThey want to feel 100% certain before they invest, but that certainty never comes.\u201d<\/p>\n\n\n\n\n\n

Her advice? Start investing before you feel ready. <\/p>\n\n<\/div>\n<\/div>\n\n\n

\n

You don\u2019t need to be an expert to begin. Open a retirement account, take the free money from your employer match and set up an automatic monthly contribution, even if it\u2019s just $100. That consistency is what matters most.<\/p>\n\n \u2014 Betty Wang<\/cite>\n <\/blockquote>\n\n\n\n\n

If there\u2019s one universal truth about wealth building, it\u2019s that time is your greatest asset, according to Fahmin Fardous, financial planner at Zenith Wealth Partners.<\/p>\n\n\n\n\n\n

Many are not taking enough advantage of time, leaving free money on the table that could set back their retirement, Bankrate\u2019s retirement savings survey shows. A little over a quarter of women in the workforce didn\u2019t contribute to their retirement savings at all between 2024 and 2025, compared to 18% of working men.<\/p>\n\n\n\n\n\n

\u201cThe biggest factor when it comes to growing sustainable wealth is time,\u201d Fardous says. \u201cStarting early would honestly be my number one recommendation, even in your teens, even if it\u2019s just a few dollars.\u201d<\/p>\n\n\n\n\n\n

Cady North, founder and CEO of North Financial Advisors, agrees that hesitation can cost women valuable time in the market. \u201cEven if you try and mess it up a little, you\u2019ll be in a better position than if you never tried,\u201d she says. \u201cThe worst mistake is waiting.\u201d<\/p>\n\n\n\n\n\n

If you\u2019re behind on investing or haven\u2019t started yet, don\u2019t panic. The next best time to start investing is now. North says spending just 20 minutes a week learning how to invest in your 401(k) plan, Roth IRA or brokerage account can make a real difference over time.<\/p>\n\n\n\n

\n
\n \n
\n

\n Don’t make this common investing mistake\n <\/p>\n

\n \n

Many women overlook a simple step: investing the money in their retirement account. \u201cSome people are contributing to their 401(k)s or IRAs, but the cash is just sitting there,\u201d Wang says. Don\u2019t forget to choose your investments so your money can grow.<\/p>\n\n\n <\/div>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n

While the process of picking investments can feel daunting, all three experts say the end goal should be the same for all investors: diversification of your portfolio.\u00a0<\/p>\n\n\n\n\n\n

The path to getting to a diversified portfolio looks different for everyone, but generally, low-cost index funds and target-date funds are a great starting point, experts say.\u00a0<\/p>\n\n\n\n\n\n

If you\u2019re looking for more guidance, most retirement providers have robo-advisors or personalized planning options that could help you get started. Working with a financial advisor could also be a smart move for you, depending on your financial goals.<\/p>\n\n\n\n\n\n\n\n\n

Build financial literacy through community<\/h2>\n\n\n\n\n

Financial literacy is about understanding how money works and feeling empowered to make decisions for yourself. And according to all three experts, confidence and financial knowledge grow faster in a community.<\/p>\n\n\n\n\n\n

\u201cWe as women like to talk and process things,\u201d Wang says. \u201cThat\u2019s why community is so important. It helps normalize money talk and make it less scary.\u201d<\/p>\n\n\n\n\n\n

Wang points to women investor clubs as a fun, low-pressure way to learn. \u201cI know women who\u2019ve done investment clubs for decades \u2013 meeting every month, learning together and even using the returns to take vacations,\u201d she says.<\/p>\n\n\n\n\n\n

Fardous, who\u2019s a mother of three, believes money conversations should start as early as possible. \u201cMy daughters are in elementary school, and we already talk about saving,\u201d she says. \u201cIf they want something, we save for it together. It teaches them that money is a tool and not taboo.\u201d<\/p>\n\n\n\n\n\n

North says that learning in small, manageable doses can make the process less intimidating.\u00a0<\/p>\n\n\n\n\n\n

\u201cSet aside a regular \u2018money hour\u2019 each week,\u201d North says. \u201cPour a glass of wine, turn on your favorite show and spend 20 minutes reviewing your finances. The more familiar you get with your money, the more confident you\u2019ll feel managing it.\u201d<\/p>\n\n\n\n\n

Ask for what you\u2019re worth. Don\u2019t wait for permission.<\/h2>\n\n\n\n\n

Salary negotiation isn\u2019t as common as you might think \u2013 for women or men. Six in ten U.S. workers didn\u2019t ask for higher pay than what was initially offered the last time they were hired, according to a 2023 Pew Research Center survey.\u00a0<\/p>\n\n\n\n\n\n

More recent research from the University of California at Berkeley suggests women are now negotiating their salaries as often as men, but they\u2019re turned down more frequently. In a Bankrate survey, 36% of women say they\u2019ve never successfully negotiated for a raise, compared with 28% of men.<\/p>\n\n\n\n\n\n

Those missed opportunities can have a ripple effect. Research published in the journal Management Science suggests gaps in negotiation may be one of many factors contributing to the broader gender pay gap. Women earn about 81 cents for every dollar men make, according to 2024 Census Bureau data.\u00a0<\/p>\n\n\n\n\n

\n
\"\"<\/figure>
\n\n

North says it\u2019s especially important for women to negotiate early in their careers, since caregiving responsibilities can cause their earnings to level off sooner.<\/p>\n\n\n\n\n\n

\u201cWomen tend to max out their peak earning years in their late 40s, while men\u2019s pay continues to rise into their 50s,\u201d North says. \u201cKnowing that should light a fire under us to advocate for ourselves earlier.\u201d<\/p>\n\n\n\n\n\n

Negotiation isn\u2019t about winning or losing, North adds. \u201cA good negotiation should expand the pie. It\u2019s about making sure the compensation is fair and reflects your value.\u201d<\/p>\n\n<\/div>\n<\/div>\n\n\n\n\n

Fardous encourages women to come to the table prepared and to ask for more than just higher pay.\u00a0<\/p>\n\n\n\n\n\n

\u201cDo your due diligence,\u201d she says. \u201cKnow the full package: retirement match, stock options, health benefits, flexibility. Sometimes an offer with a slightly lower salary but better equity or retirement benefits can set you up for more wealth long-term.\u201d<\/p>\n\n\n\n

\n
\n \n
\n

\n What else to negotiate besides salary\n <\/p>\n

\n \n\n\n\n

Many people zero in on salary when negotiating with an employer, but compensation is much more than that. Here\u2019s a checklist of what else can be negotiated:<\/p>\n\n\n\n\n