275: Protecting Women's Wealth

Welcome back, Money Lover! In today’s episode, we’re diving into a topic that I’m incredibly passionate about: protecting women’s wealth. This is a conversation that applies to everyone—whether you’re a woman looking to safeguard your financial future or someone who wants to support the women in your life. Protecting wealth isn’t a new topic around here. It’s the final step in our 7 Steps to Wealth framework, and we spent the last few episodes talking about different ways to protect your wealth in relationships–with yourself and others. This week we’re wrapping up that series with an episode focused on financial planning considerations for women. Women have long been praised for their generosity, often being encouraged to give their resources away. However, true financial security begins with keeping and growing wealth, not sacrificing it. This is especially important when you consider some of the life experiences women tend to go through, particularly as they relate to longevity and the evolution of our financial needs in different stages of life. Financial empowerment starts with recognizing that no one cares more about your money than you do. Staying informed and actively engaged in financial decisions is essential to building lasting wealth–and that’s exactly what we’re going to talk about today. ⬇️ Here’s what you’ll learn in this week’s episode of Love, your Money®: 03:10 The societal belief that has held women back, why we need to stop celebrating self-sacrifice, and the mental reframe we need when it comes to women and wealth 05:07 The three best practices we recommend for building long-term wealth, and how longevity impacts financial planning 06:43 How work-life balance, traditional gender roles, and caregiving responsibilities impact women’s earning capacity and financial well-being 07:40 How to stake a claim in your household’s wealth management, and why trust isn’t a substitute for knowing 9:33 What you need to know if you want to be informed and empowered about your finances, retirement planning for surviving spouses, and benefit distribution 12:53 Reviewing beneficiary designations, estate plans, and insurance coverage as your financial needs fluctuate and change over time 14:27 What your mindset, emotional needs, and personal goals have to do with your financial planning 16:10 Signs it’s time to find a new financial advisor, and how our team works with high net worth women and couples with wealth to protect their best interests and their assets Show Notes To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/protecting-womens-wealth Follow Hilary on: LinkedIn Instagram YouTube Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.