Why So Many Women Still Feel Financially Insecure—Even as Wealth Grows
Retirement may feel far off, but the decisions you make today will shape your financial future. One of the most powerful tools at your disposal for securing a comfortable retirement is a 401(k) or an IRA. But with so many options and strategies available, it’s easy to feel overwhelmed. The good news? Maximizing your 401(k) and IRA doesn’t have to be complicated. With the right strategies, you can take steps to help your retirement savings grow, working toward greater financial stability and flexibility in the future.
We’re living in a time when women hold more wealth and influence than ever before—through successful careers, smart investments, and the coming Great Wealth Transfer. But here’s the thing: even with growing financial power, many women still feel anxious about money.
Judi Leahy, a senior wealth advisor at Citi, explains that this insecurity often has deep roots—formed in childhoods where women weren’t part of financial conversations, and where frugality was a survival skill. These emotional money patterns stay with us, even when our bank accounts tell a different story.
In fact, there’s a name for it: “bag lady syndrome.” It's that lingering fear of losing everything, no matter how much you’ve saved. I’ve seen it time and time again in my own practice—smart, successful women worried they’ll outlive their money or not have enough to maintain their independence.
What’s fueling these fears?
Longer lifespans and career breaks. Women often step back to care for children or aging parents, which affects earnings, Social Security benefits, and career momentum.
The gender pay gap. Even when we’ve overcome it personally, we still carry the weight of its legacy.
Conservative investing. Women often prefer long-term, stable growth over chasing returns—and that’s not a bad thing. But without a solid plan, it can create doubt and delay.
The good news? Confidence can be built.
Financial security isn’t just about numbers—it’s about clarity, intention, and understanding your “why.” Leahy encourages advisors (like myself!) to go deeper than the surface-level goals and ask questions like:
What was money like growing up?
Who are you planning for?
What keeps you up at night?
When your financial plan reflects your values and your life story, you feel more in control—and more confident.
Here’s the shift I see coming: younger women are showing up to the conversation early. Millennials and Gen Z want to activate their income with purpose. They’re investing sooner, learning faster, and seeking out real education—not just noise.
And that gives me hope.
Because when women feel confident with their finances, they don’t just change their own futures—they impact their families, communities, and the world.
Ready to Take Charge of Your Retirement?
Maximizing your 401(k) and IRA is one of the smartest ways to secure your financial future. The earlier you start, the more you can benefit from compound growth, tax advantages, and the peace of mind that comes with knowing you’re on track for a comfortable retirement.
If you're ready to explore a personalized retirement plan and take proactive steps to help align your 401(k) and IRA with your long-term goals, schedule a call today. Let’s talk about the best strategies to maximize your savings and build a secure future.
Disclosures
Money Matters Wealth Solutions is a dba of The Wealth Boutique, a registered investment advisor with the Securities and Exchange Commission. The Wealth Boutique and each of the DBAs are not under common ownership but owned and operated separately. All financial planning and advisory services are provided by The Wealth Boutique. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with a tax professional before implementing any investment strategy.| Full Disclosure | CRS
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