Corebridge Financial: Women speak out on money matters
What are women thinking and feeling when it comes to their finances? Our latest research offers fresh insights to help women better prepare and take action for their financial future.
Women have made significant strides in career advancement, educational attainment, and financial well-being. They now control a staggering $11.2 trillion in personal wealth in the United States2 and are expected to inherit $30 trillion in intergenerational wealth transfers over the next few decades.3 They make up 51% of the college-educated workforce, among those age 25 and older,4 and nearly half (45%) in opposite sex marriages earn the same as or outearn their male spouses.5 However, despite this progress, the gender pay gap persists, with women earning only 84 cents for every dollar earned by men.6 Women are also more likely to experience career interruptions due to caregiving responsibilities, impacting earning potential and retirement security.7 These inequities can hinder women’s ability to achieve financial success.
At Corebridge Financial, helping women plan for and achieve lasting financial security is a priority. In 2024, we surveyed more than 2,500 women to understand the actions they are taking for their financial future, how they feel about money and investing, and how professional financial guidance may help them achieve better outcomes. Here is what we learned.
Financial independence is pivotal
For women today, financial independence and living comfortably help define success. About 2-in-3 women say the following factors come to mind when they think about having a successful life:
- Being financially independent: 69%
- Comfortably living the lifestyle of their choosing: 67%
- Providing for their family: 62%
Additionally, saving enough for retirement is a key success factor for Gen X women (59%) and Baby Boomer women (61%). And career success ranks highly among Gen Z women (58%) and Millennial women (45%)