Financial Empowerment for Women

Finding one’s inner self-advocate is a journey for many women. Whether you are confident in speaking up for yourself in any situation or struggle to overcome a native timidity, we are all somewhere along the path of becoming our own heroes. Discovering the strength to promote your own best interest is something that will benefit you for a lifetime, and this is particularly true when it comes to your financial life.

Examining the history of women and money can be a disempowering experience. After all, it wasn’t until the Equal Credit Opportunity Act of 1974 that banks were forced to issue credit cards to women without a co-signer! For many women, even their own history with money may leave them feeling disempowered—such as those whose mothers or grandmothers were left out of the financial conversation or didn’t have the earning power of their husbands.

Women have faced uphill battles to own property, hold jobs, earn equal pay, and manage household finances. It’s no wonder that many women have bowed out of finance altogether, leaving the investments and long-term financial decisions to the patriarch of the family. But those days are over, and there are a myriad of reasons why women today both can become financially empowered and should become educated financial self-advocates:

• Women live longer than men on average and often inherit from spouses and parents. It is expected that during the Great Wealth Transfer, about $54 trillion will pass to surviving spouses, 95% of whom are women, and another $47 trillion will pass to women in younger generations.
• It’s expected that by 2030, women in the U.S. will control $34 trillion, about 38% of all investable assets.
• Married people are now in the minority: 51% of Americans are divorced, widowed, separated, or have never been married. A record number of people, including women, are living alone.
• For women who are part of a married couple, taking part in financial decision making and planning empowers both spouses, and provides peace of mind for the whole family.

Women still rate themselves as less confident than men when it comes to financial literacy. The best remedy for this is education; the more you know, the more confident you will feel. But if learning about finances doesn’t seem like it comes naturally to you, don’t be discouraged. Keep in mind that:

• Financial planning and investing don’t have to be intimidating: Find an advisor who you can trust and connect with to help you learn. A good advisor should be able to explain things clearly without obfuscating or making you feel patronized.
• Don’t be afraid to ask questions: Some women hesitate to ask questions out of fear of seeming ignorant. There is nothing more empowering than realizing that there’s nothing wrong with not knowing something and being able to ask questions.
• You don’t have to know everything right away: This journey doesn’t have an end. Allow yourself to learn at your own pace and acquire knowledge and skills over time.
• The jargon is just jargon: Like any industry, finance has its language, which can be daunting when it’s unfamiliar. It’s the ideas and concepts that are important, not the lingo.

The great news is that women bring unique skills and perspective to financial planning and investing. Research consistently shows that women’s investment portfolios outperform men’s. Women tend to trade less frequently than men and are more cautious about taking risks, which can potentially contribute to a higher long-term return. Women are also more likely to seek assistance from a professional advisor, another potential boost for their investment portfolio.

You may be surprised at your interest and ability as you engage more frequently with finances. We wanted to share some of the tools and ideas we’ve personally used to feel more empowered when it comes to money, investing, and financial planning – see below for our personal stories.

At Coldstream, our goal is to help women—and all investors—become more financially empowered. Please feel free to reach out if you would like to connect with our team to discuss your personal financial situation, or to simply learn more about how we work with our clients to deliver long-term financial peace of mind.

Jennifer Harrison, FQFP®, Client Team Operations Manager

Growing up, I was lucky to witness a powerful example of financial independence in my own family—my grandmother. At a time when it wasn’t common, she was the breadwinner, confidently leading her household and her career with purpose and strength. She didn’t just work—she thrived, and she made it clear that being a woman in charge of her own money was not only possible but powerful. Watching her navigate life with such control left a lasting impression on me.

That early influence planted a seed that continues to grow. Today, I empower myself financially by staying curious, informed, and intentional. I make it a point to ask questions, seek advice when I need it, and most importantly—trust myself. Financial empowerment, to me, isn’t about having it all figured out overnight. It’s about showing up, taking ownership, and building a life where money becomes a tool for freedom, not a source of fear. And it all started with seeing a woman lead by example.

Jillian Perkins, Communications Manager

I think of money as a symbol. It isn’t just a transactional device; it represents my energy, time, and resources. Earning money is a way to bank your labor, and spending money is akin to directing your own energy toward something. Saving and managing money is really about conserving and maximizing your own time and energy so you can direct it intentionally rather than habitually. When I think about it that way, learning about the tools that can help save and grow money has another layer that makes it feel more meaningful and immediate for me. And it’s definitely important to me to have some amount of control in the process!

Reegan Rae, CPWA®, Team Lead & Wealth Manager

I was inspired by being part of Rock the Street, Wall Street (RTSWS), a non-profit dedicated to empowering young women to navigate the world of finance. Our team volunteered in a high school to teach a group of teenage girls about money and finance, and I was so encouraged watching their excitement as they absorbed complex concepts and topics. Since the beginning of my career, my personal passion has been to help close the gender gap in the financial services industry, and I think it is all about creating opportunities. Whether you are creating opportunities for young people to explore careers in investing or affording yourself the opportunity to learn so that you can feel confident when it comes to your own finances, opening the door to the possibilities is the first step. For me, money equals financial stability, meaning it’s so worth giving yourself the chance to understand it better. And if you’re anything like the RTSWS students, you might find unexpected enthusiasm for the material once you dive in!

Kim Rosenberg, CFP®, Team Lead & Wealth Manager

One of the most powerful ways I empower myself financially is by teaching others what I’ve learned. I began by showing my kids how to invest their earnings into a Roth IRA as soon as they got their first jobs, and how to build a simple spending plan that includes buckets for savings and emergencies. In teaching them, I reinforced my own commitment to financial literacy and ongoing growth. There’s something deeply rewarding about watching your children take care of themselves financially by developing habits that will serve them for a lifetime, and knowing you’ve walked that journey together.

Katelyn Spangler, CFP®, Wealth Manager

Before starting my finance career, I spent years in the restaurant industry—first in high school, then through college and beyond. As a bartender, I was saving money quickly but had no idea how to grow it. My job offered a 401(k), but I tossed the neon flyers in the trash without a second thought. No one had taught me the value of investing, not even in business school.

It wasn’t until a few years later, when I casually mentioned my savings to my brother, that I was introduced to the concept of a Roth IRA. I didn’t fully grasp terms like “risk tolerance” or the details of portfolio allocation, but I took the first step with someone that I trusted. I filled out the paperwork. I asked questions. I paid attention. What started as confusion became curiosity, and that curiosity became confidence.

Looking back, I realize that was the beginning of my financial self-advocacy. I moved from passively saving, to learning how to build wealth. I’m grateful to have had someone in my corner, but the real shift happened when I decided to take ownership of my financial future.

Today, I use my experience to help others realize that financial empowerment starts with taking action, asking questions, and believing you deserve to understand your money.

*Financial Paraplanner Qualified Professional™ and FPQP™ are trademarks or registered service marks of the College for Financial Planning in the United States and/or other countries. Investments & Wealth Institute® (the Institute) is the owner of the certification marks “CPWA,” and “Certified Private Wealth Advisor.” Certified Financial Planner Board of Standards Inc. owns the certification marks CFP® and Certified Financial Planner™ in the U.S.