Today, women control one-third of the wealth in North America, which, in Canada, translates to an estimated $3.2 trillion in total assets and $1.1 trillion in financial wealth and growing, according to the Globe & Mail.1
The Numbers
Women today are beginning to take more control of their finances and currently own half of the financial assets in Canada. According to Oppenheimer and the National Post, they are becoming smarter and more confident investors:
43% of women consider themselves somewhat knowledgeable about investing and 67% have saved for their retirement.
92% of Canadian women are solely or jointly in control of family finances and make spending decisions on everything from clothes to a new car. Of these women, another 55% say they alone make the daily financial decisions.
In addition to having a much more prevalent role in the workforce, more women than men are graduating from university and the number of women living alone has doubled over the past 20 years. Combine this with the fact that there is a 50% divorce rate, and that 80% of women at some point in their lives are going to be solely responsible for their finances, it is not surprising that women are taking a more active role controlling their wealth.
Rolanda's Advisory Role
Regardless of gender, my clients have my full commitment on the following:
Give Rolanda a call today to find out how she can help you reach your wealth goals.
1Globe & Mail, "Women and wealth: The investment sector's new – and crucial – frontier," Aug. 9 2014
