by
Badgley Phelps
| Jan 31, 2023
Dear women investors,
Happy New Year! It’s 2023—maybe you blinked, and the years have flown by, or maybe the last several years have dragged on for what seems like a decade. Maybe you feel both of those things: “The days are long, but the years are short.” In any case, here’s to moving toward simplicity, clarity, and intentionality this year.
We see you trying to juggle a career, family responsibilities, social plans, and “time for self-care.” It can feel overwhelming trying to coordinate all the items on your to-do list. We can’t plan your dinner menu or book those tickets for the summer trip, but we know how to get a financial house in order. When was the last time you took a close look at your expenses, estate plan, insurance, or investment strategy? If any of those are on your to-do list, we can help.
In our experience, once a client has their finances in good order, a new chapter can open. What are those bigger goals that can improve your life? Should I take that new job in a new city? Can we afford to grow our family? What options do we have to care for aging parents? How soon, and where, can I retire? What does it look like to sell my business, and what do I need to watch out for? These, and many other similar questions, are what get us out of bed in the morning: the privilege of being invited into a personal conversation with you, in confidence, about how to navigate big choices.
As of 2020, women control about $10 trillion, or one third, of total household financial assets, but by 2030 that’s expected to triple to $30 trillion according to McKinsey. With this tidal shift in financial decision making, what we expect to see is more emphasis on goals-based financial planning, wealth preservation, and the alignment of investing with beliefs.
According to a 2021 Fidelity survey, 34% of women say that their financial situation keeps them up at night at least once a month. We believe that a solid plan and good education can go a long way toward alleviating some of those concerns. You may still lay awake wondering about the right choice when it comes to health care, childcare or working through backup plans in your head, but your financial future shouldn’t be the unknown keeping you up at night. Make 2023 the year that you give yourself and your family the gift of a solid financial plan.
We see you because we are you. Over half of our firm’s employees are female, a beacon in an industry where an estimated 85% of financial advisors are men (McKinsey, 2020). We know what it’s like to wear many hats and flex between priorities on any given day. If your goal is getting your financial house in great shape in 2023, we welcome the opportunity to get to know you!
Cheers to you and all that you do,
The Women of Badgley