Financial Planning for Female Breadwinners: Protecting the Life You’ve Built

Article Summary

• Females as breadwinners within relationships are more common than they used to be.
• A number of factors have influenced the rise in female breadwinners, including wealth transfers from spouses or parents.
• Wealth building and management, for many women, comes with questions. Some women feel more confident about their options after seeking guidance from an experienced financial advisor.

Financial Planning for Female Breadwinners: Protecting The Life You’ve Built

Female breadwinners are not as rare as they used to be. In fact, women are increasingly becoming the primary earner in dual-income households. Sometimes they are the only earners.
Data indicates the percentage of married women who are either the sole or primary breadwinners in their marriage has grown from just 5% in 1972 to 16% in 2023.

For context, in about a third of marriages, the spouses earn right around the same amount of money. In 55% of marriages, husbands are the primary or sole breadwinner.

There are a variety of reasons why women as breadwinners are becoming more commonplace, and the evolving financial landscape does shine a light on the needs of women building wealth or women inheriting wealth. The “great wealth transfer,” which will occur over the next two decades, puts many GenX and Millennial women on the receiving end of a historic, intergenerational handover of wealth from the Baby Boomer generation.

Since it is less common to see women as breadwinners, despite the gains that have been made since the 70s, the role can come with questions that need answering. Many females who are the sole or primary earners for their family find they have more financial confidence when they seek wealth management guidance.

Common Financial Challenges Of Being The Primary Earner

Many women who are building wealth, or women who are inheriting wealth, may feel like they are entering  unfamiliar territory. For those who are breadwinners, it is natural to wonder what would happen to her family’s financial picture if she lost her job. Other common concerns include:

• Is my family financially protected if something happens to me?
• Am I saving enough for retirement?
• How can I balance supporting others while pursuing my own goals?
• What should I do to make the most of my highest-earning years?

It should come as no surprise that a large portion of female breadwinners are between the ages of 54 and 65, underscoring the significant financial influence women have later in life. When coupled with inheriting wealth, many women feel more confident about their financial future when they work with a financial advisor.

As it turns out, financial planning for women is somewhat of a specialty. It requires an understanding of the challenges women encounter and the goals they aspire to achieve. At Svvy®, a service built by women for women, we have curated a network of financial advisors for women. What that looks like in practice, for clients of Svvy®, is expert financial guidance from women-vetted financial advisors.

We developed a system for matching advisors with women who are seeking financial guidance that considers the specific goals individuals have, from intergenerational wealth planning to legacy planning, wealth transfers and beyond. The first step in the process is finding a female-vetted advisor who best aligns with you.

We understand that financial planning for female breadwinners can be nuanced, which is why our financial advisor matching quiz is designed to help you find a professional who is right for you. To get connected with a financial expert who can help you with wealth building as a female breadwinner, get matched with a Svvy® expert today.

Disclosure: This content is provided for general educational purposes only and does not constitute individualized investment, legal, or tax advice. Svvy® acts solely as a solicitor and connects and matches individuals with independent third-party financial professionals through a quiz-based matching process on the Svvy® Network. Matching is based on information provided through Svvy’s platform and does not constitute any advice. Any advice, recommendations, and services are provided only by the independent professional you choose to engage.