What Every Woman Should Know About Building Her Financial Legacy
Introduction: Why Women Need a Financial Plan on Their Terms
Women now control or influence over half of U.S. household wealth, yet they remain less likely than men to have a structured financial and estate plan in place. Longer life expectancy, persistent wage gaps, and caregiving responsibilities amplify the need for strategies that preserve income, protect assets, and direct wealth on a woman’s own terms.
At RJP, proactive planning is a critical step toward financial independence and generational security.
Why Comprehensive Planning Deserves a Women‑First Lens
Women already oversee or influence most household wealth (McKinsey & Company, 2020), but longer life expectancies (Centers for Disease Control and Prevention [CDC], 2024), career interruptions that reduce lifetime earnings and Social Security benefits (U.S. Bureau of Labor Statistics, 2024), and other persistent factors make proactive, comprehensive planning especially important. Longevity data show that a woman retiring at age 65 can expect to manage her finances for two decades or more, often alone (CDC, 2024).
Research further indicates that women, though highly capable investors, tend to hold larger cash balances and allocate less to growth assets, limiting long‑term compounding (Fidelity Investments, 2024). Finally, women are more likely than men to inherit twice, first from parents, later from spouses, creating the need to resolve outdated beneficiary designations or probate challenges at moments of greatest stress (New York Life, 2023). These factors raise the stakes for a coordinated financial and estate blueprint.
Taking the Lead: RJP’s Women‑Centered Approach to Financial & Estate Security
At RJP, our team is committed to supporting women through personalized financial planning. Grounded in the lived experience of our owner, Deb Placet, who co‑led RJP with her late husband and, after his passing, assumed sole responsibility of post‑loss legal and financial complexities, giving our team a comprehensive understanding of the emotional and logistical burdens widows and single women often encounter. That experience provides well-grounded foundations for our firm’s advisory framework: every advisor and case manager is prepared to anticipate the complexities clients face after losing a partner, from reconciling beneficiary designations to structuring dependable, long‑term income streams.
By addressing the distinct priorities of women at each life stage, our process delivers a 360‑degree view of their financial landscape while honoring individual goals. We prioritize education, collaboration, and strategic planning, fostering confidence and encouraging leadership among women clients. Transparency and open communication are at the core of the philosophy that guides our advisors: we invite women to share their concerns in small‑group workshops, one‑on‑one strategy sessions, and live Q&A forums. We then respond with clear, accessible guidance and actionable next steps. It is a true partnership built on listening first, so that every woman feels informed, respected, and fully supported through what can be an already difficult time.
Women Setting the Standard for Early Financial and Estate Planning
By 2030, an estimated $30 trillion in U.S. assets will be in women’s hands, making them the fastest‑growing segment of wealth owners (McKinsey & Company, 2020). Yet structural gaps persist:
- Retirement readiness.
- Women retire with roughly 30 % less income than men, a disparity driven by smaller account balances and reduced Social Security benefits (U.S. Treasury, 2024). Fidelity’s 2024 Women & Investing Study echoes this, finding women have 30 % less saved for retirement despite rising market participation (Fidelity Investments, 2024).
- Impact of Caregiving on Savings.
- Caregiving responsibilities can significantly constrain women’s ability to save. In a 2024 national survey, 64 % of sandwich-generation women reported that caregiving reduced their savings capacity, and 57 % cut back on paid work hours as a result (Edward Jones, 2024).
- Longevity risk.
- Women live about six years longer than men, so portfolios and income streams must stretch further (Fidelity Investments, 2024),
- Wealth‑transfer complexity.
- Multiple inheritances—first from parents, later from spouses—require careful coordination of beneficiary designations and estate documents (U.S. Treasury, 2024).
Starting the planning process early helps women plan accordingly to ensure their security. The takeaway is clear: early, intentional planning enables women to proactively manage financial risks and secure long-term stability. Delaying this process only compounds the effects of career interruptions, care responsibilities, and extended longevity. Each year of delayed planning compounds the effects of longer life spans, interrupted earnings, and unpaid care work. A disciplined strategy, cash‑flow modelling, risk management, updated estate documents, and periodic reviews let women convert today’s challenges into long‑term security and inter‑generational impact.
Supporting Women Through Strategic, Long-Term Planning
RJP approaches financial and estate planning with a long-term, strategic lens, recognizing that true prosperity requires sustainability, adaptability, and a comprehensive understanding of women’s evolving needs. Through structured, goal-oriented strategies, women are accelerating pathways to safeguard their financial futures, respond to life’s uncertainties with resilience, and make decisions with clarity and confidence.
Our approach honors the many roles women hold across their lifetimes. We acknowledge your experiences as daughters managing inherited responsibilities, mothers providing for future generations, and widows navigating financial life after loss. Whether addressing the complexities of caregiving, legacy planning, or wealth transfer, RJP supports women in making informed decisions that reflect their values and the relationships that matter most.
As women continue to expand their economic influence, they secure their financial well-being and shape the financial planning profession’s trajectory. RJP remains committed to advancing this momentum, continuously refining its methodologies to deliver responsive, relevant planning frameworks that reflect the complexities and ambitions of modern women. Our approach allows for a comprehensive scope of support across life stages and family dynamics, empowering women to lead with intention and plan with enduring purpose.
Strategic Priorities for Supporting Women’s Financial Advancement
At RJP, we prioritize integrating intentional strategies to support women in proactive leadership over their financial lives. These components ensure that each client’s experience is not only personalized but also grounded in clarity, confidence, and long-term stability:
- Financial Education
- Through targeted resources, workshops, and one-on-one consultations, RJP enhances financial literacy, enabling women to make informed decisions and achieve greater independence.
- Values-Based Goal Setting
- Women are encouraged to articulate personal and financial priorities, creating a clear roadmap of achievable, purpose-driven milestones.
- Individualized Planning Frameworks
- Each financial plan is tailored to reflect a woman’s unique circumstances, needs, and aspirations, accounting for factors such as career transitions, caregiving responsibilities, or long-term legacy planning.
Together, these strategies foster knowledge, clarity, and the strategic foresight women need to confidently shape their financial trajectories.
Core Building Blocks of a Women‑Centered Plan
Building Financial Confidence with RJP
At RJP, we understand that financial confidence is cultivated, not assumed. The path to clarity can be complex for many women, particularly those navigating caregiving roles, life transitions, or economic disruption. Our planning environment is designed to be both supportive and intellectually rigorous, where questions are welcomed and education is prioritized.
Through individualized consultations, group workshops, and strategy sessions, we guide women in building the knowledge and clarity needed to make informed, values-aligned decisions. This engagement facilitates lasting confidence and control. In addition to one-on-one consultations, we offer various women focused workshops and events. These programs align with our mission to provide accessible, values-based financial education in a collaborative setting.
By tailoring guidance to each woman’s unique goals and circumstances, RJP transforms planning into a meaningful process that empowers women to lead with intention and plan with purpose.
Turning Intent into Action: Five Essential Steps for Women to Turn Their Strategy into Security
Clarify Priorities: Write down life goals, anticipated expenses, and the legacy you want to leave; a clear vision anchors every subsequent decision.
Assemble the Facts: Gather recent account statements, insurance policies, real‑property deeds, and existing estate documents to prevent oversights.
Test Multiple Scenarios: To identify vulnerabilities early, evaluate how your plan holds up under differing market climates, inflation paths, and health‑care costs.
Draft or Update Key Documents: Ensure your living trust, will, and powers of attorney reflect current wishes and beneficiaries, and coordinate them with asset titling. RJP can help guide you through all of these processes.
Commit to Periodic Reviews: To keep the plan current, schedule at least an annual check‑in or sooner after significant life events such as marriage, divorce, or inheritance.
Advancing Women’s Financial Futures with Purpose
Financial and estate planning for women is not simply about managing assets. This process is about creating clarity, autonomy, and multi-generational impact. Progress begins when women are equipped with the knowledge, tools, and personalized strategies needed to take ownership of their financial futures confidently.
At RJP, our mission is to deliver more than advice. We provide a collaborative, client-centered experience where women’s financial goals are prioritized, their concerns addressed with care, and their success made measurable. Through education, ongoing support, and values-based guidance, we help women plan and lead purposefully.
Reference List
Bank of America. (2023, June 28). BofA data finds men’s average 401(k) account balance exceeds women’s by 50 percent [Press release]. https://newsroom.bankofamerica.com
Centers for Disease Control and Prevention, National Center for Health Statistics. (2024, December). Mortality in the United States, 2023 (NCHS Data Brief No. 521). U.S. Department of Health and Human Services. https://www.cdc.gov/nchs
Edward Jones. (2024, September 16). Caregiving responsibilities leave half of American women lacking confidence in their ability to save for the future [Press release]. https://www.edwardjones.com
Fidelity Investments. (2024, October 3). 2024 Women & Investing Study. https://www.fidelity.com
McKinsey & Company. (2020, July). Women as the next wave of growth in US wealth management. https://www.mckinsey.com
New York Life. (2023). Wealth Watch—The great wealth transfer [Research report]. New York Life Insurance Company. https://www.newyorklife.com
UBS Investor Watch. (2024). Own your worth: Women and the path to financial well‑being [Research report]. UBS AG. https://www.ubs.com
U.S. Bureau of Labor Statistics. (2024). Women in the labor force [Data tables]. U.S. Department of Labor. https://www.bls.gov
U.S. Department of the Treasury, Office of Consumer Policy. (2024, September 20). Spotlighting women’s retirement security. https://home.treasury.gov