The Great Wealth Transfer is already underway, with women poised to inherit and control an estimated $34 trillion – that’s within the next five years. In the midst of this historic shift, many women may feel less confident making long-term financial decisions.

It’s About Confidence, Not Competence

Research shows that 80% of women feel confident managing household budgets and making short-term financial decisions. However, only 23% of women feel confident in making long-term financial planning and investment decisions. (Source: World Economic Forum, 2024.)

So, what’s the disconnect?

We believe this gap isn’t about ability, but about confidence. And confidence can be built through education, conversations, action and experience.

How You Can Build Financial Confidence

Acknowledge Your Strengths

You make financial decisions every day. Creating your household budget, making purchasing decisions, negotiating salaries or identifying new job opportunities, and planning for your family’s future all require financial acumen. Recognizing the active role you play in your financial decisions is the first step to building confidence in planning for your long-term financial future.

Get Comfortable Talking About Money

Many women hesitate to discuss money, investments, and financial planning—yet these conversations are key to building confidence. Whether it’s with a financial advisor, mentor, or a group of trusted peers, normalize discussions about financial planning and wealth-building.

Take Small, Strategic Steps

Confidence grows with action and experience. A few places to start:

• Read books and/or listen to podcasts about personal finance, investing, the markets and the economy.
• Attend a financial workshop or network with other financially savvy women.
• Review your bank and investment accounts and understand where your money is allocated.

Don’t Want to Go It Alone?

If you know you’d like some help, you can request an introductory call with a financial planner or advisor .Not all financial advisors are the same. Work with professionals who are credentialed and focus on education and empowerment, not just investments. Depending on your situation, you may want to consider seeking an advisor who:

• Has experience working with women in executive positions and leadership roles
• Takes a collaborative, education-first approach rather than a “just trust me” attitude
• Offers transparency about how they provide value

If you’re actively looking for a financial advisor, here are ‘Key Questions to Ask a Financial Advisor‘ to help you evaluate options and find the right fit for you.

The Future of Wealth Is Female

Women will play an integral role in the changing financial landscape in the coming decades. By fostering financial literacy and building confidence, we can leverage this wealth transfer to become a catalyst for greater impact and opportunity — empowering women to lead with clarity, purpose, and confidence.

Source: Bloomberg, 2024.

Ready to Take Charge of Your Financial Future?

Depending on where you are in your journey, you have a few different options for building your financial confidence:

Join the Women Invest Community to learn from and be inspired by other women who are taking control of their financial futures and living their best lives.

Read articles, listen to podcasts to learn more about personal finance and investing. Here are a few to get you started:

• Money Stuff from Bloomberg
• So Money with Farnoosh Torabi
• HerMoney with Jean Chatz
• Planet Money from NPR