Up until the passage of the Equal Credit Opportunity Act in the 1970s, a woman’s credit application could be denied if her husband didn’t co-sign.
Since then, women have become breadwinners, investors and more certain about managing their finances.
New research by US Bank found that over the last two years, the percentage of women who feel confident they can afford retirement has grown to 57% compared to 48% in 2020.
But women do have their own financial needs and concerns.
“Women have over time not made nearly as much money as men. Yet on average, they live longer than men by an average of nearly five years,” said Bartlett Wealth Management CFA, Director and Senior Portfolio Manager Krista Linn. “So we look at it as it’s a far more complicated process and the financial planning becomes not only just a learning experience but we have to make sure that the income that they have lives as long as they do.”
Krista Linn, CFA, spoke with abc7 of Chicago about the importance of taking a differentiated approach for female investors.