Financial Stats: Women’s History Month
In honor of Women’s History month, we thought it would be fun to recognize the influence of women in the financial world. Here are some statistics around women’s buying power and investment tendencies. Enjoy!
At Johnson Bixby it doesn’t come as a total shock to hear the number of women entrepreneurs continue to grow – look at our leader, Heidi! The stats about female run businesses are both empowering and inspiring. For example:
- Between 2007 and 2018, female owned businesses grew 21%. As of 2018, there are 12.3 million women-own businesses employing 9.2 million people generating $1.8 trillion in revenue.
- 4 out of every 10 businesses are women-owned.
- Between 2017 and 2018, there were 1,821 net new women-owned businesses added per day!
Over the next decade, it’s estimated women will control two-thirds of all consumer wealth in the United States. A few other stats related to wages and household finances:
- On average, women earn 76% of what men bring home, resulting in a $250,000 average lifetime earning differential.
- Women are more likely to work in part-time jobs that do not qualify for a retirement plan.
- 40% of households with children under the age of 18 include mothers who are either the sole or primary source of income for the family.
- 44% of women are the primary breadwinners in their households.
- As of 2015, women controlled $11.2 trillion or 39% of the U.S. investable assets.
- American women baby boomers are the healthiest, wealthiest, and most active generation of women in history!
At Johnson Bixby, we believe the information we provide helps clients gain knowledge to make more informed decisions. We’re happy to see women continue to advance their education. According to U.S. Census Bureau for 2017, women continue to outpace men in attaining a college education and advanced degrees. In addition:
- Since 1982 women have earned 4.35 million more bachelor’s degrees then men.
- As of 2017, women between ages 18 and 24 earned more than two-thirds of all master’s degrees, meaning there were 167 women with master’s degrees for every 100 men.
In the financial planning profession, the percentage of women CFP® professionals has remained flat at 23% for at least a decade, although there are efforts underway to increase that number. We’re honored to have so many talented women on the Johnson Bixby team and look forward to helping more women make their mark on history in the coming years!
Written By Savanah Van Kirk