Retirement

Women on the Rise

Daunting Realities Although history has seen some significant progress for women over the last century, there’s still a long way to go toward financial equality. Women make 82.3 cents for every dollar their male counterparts make in a similar job. (1) The average Social Security retired worker benefit for women is $16,496 per year, compared with $20,921 for men. (2) 46% of married women in their 50s in two-income households are at risk of being unable to maintain their standard of living in retirement. 32% of married women in their 50s in one-income households are at risk of being unable to maintain their standard of living in retirement. 40% of single women in their 50s are at risk of being unable to maintain their standard of living in retirement. (3)

Enormous Potential The truth is, women wield a huge amount of influence over the economy, and their impact is only likely to grow. Women control 51% of all personal wealth in the United States today. (4) Over the next 40 years, women stand to inherit $28.7 trillion in intergenerational wealth. (5) On average, women save 9% of their salary. That’s almost a full percent higher than men. (6)

Increasing Impact The numbers don’t lie: more women are successfully founding and leading businesses than ever, with impressive results. There are 114% more women entrepreneurs than there were 20 years ago. (7) Black women own 42% of new businesses owned by women and 36% of Black-owned employer businesses. (8) Women launch more than 1,200 new businesses every single day in the U.S. (9)

Support for the Journey Many women report having strong relationships with their financial professionals. In fact, 70% of women say they would refer their financial rpfessional to a friend or relative. Whatever your financial needs, we're here to help (10). Sources: 1. DOL.gov, 2021; 2. SSA.gov, 2020; 3. Prudential.com, 2019 (latest data available); 4. FA-mag, 2020; 5. Visualcapitalist.com, 2019; 6. Visualcapitalist.com, 2019; 7. WhattoBecome.com, 2021; 8. Forbes.com, October 26, 2020; 9. BusinessNewsDaily.com, 2021; 10. ML.com, 2021

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Steven P. Sorensen

Steven Sorensen is an Executive Director with Global View Capital Advisors. Steve has over 20 years of experience in the financial services industry helping people from all walks of life with their investments and insurance. Steve and...

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Garth married his high school sweetheart, Karen. They earned bachelor's and master's degrees at Penn State before arriving in Idaho Falls in 1992. They had a miracle son, then one-by-one adopted two daughters and two sons. Garth built...

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Steven is an Associate Director with Global View Capital Advisors and enjoys enriching the livesof his clients. Steve holds Bachelors and Masters Degrees from Utah State University and spentover 20 years working with patients and...

Women on the Rise

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