How Women Over 50 Achieve and Sustain Wealth: 5 Essential Strategies

Throughout my career as a wealth advisor, I’ve supported numerous women as they navigate new financial landscapes—whether due to inheriting wealth, becoming a widow, or experiencing a divorce. It’s a transformative time that can feel overwhelming. If this sounds like you, you’re in the right place. I’m here to share the top five strategies that women over 50 use to maintain and increase their wealth. Let’s get started and explore the practical steps you can take to secure your financial future.

1. Get Organized and Define Your Financial Goals

Successful women over 50 know that mastering their financial landscape is key to growing their wealth. They start by meticulously organizing all financial documents — bank accounts, investment portfolios, retirement accounts, insurance policies, and estate documents. This clear understanding of their finances is crucial for informed decision-making. There are also tons of apps and tools available today to help you view your finances in one place while keeping track of everything.  Additionally, these women set precise financial goals, breaking them down into short-term, medium-term, and long-term objectives. This structured approach helps them prioritize needs over wants, allowing for strategic resource allocation that enhances future security and growth.

2. Invest Wisely for the Future and Plan for Longevity

Successful, wealthy women over 50 know the importance of investing for the long term and planning for an extended lifespan. They understand that time is a crucial ally in growing wealth, especially since women often live longer than men. These savvy investors stay committed to their portfolios despite the ups and downs in the market, allowing compound interest to significantly increase their wealth over time. Additionally, they proactively plan for potential healthcare expenses, which are likely to be substantial due to their longer life expectancy. This comprehensive approach ensures that their retirement savings not only last but also support a comfortable and secure lifestyle in later years.

3. Define and align personal values to your investments

More and more, women are aligning their investments with their personal values, focusing on strategies that support their goals, such as securing a comfortable retirement, funding education, or supporting charitable causes. While it’s seldom discussed, integrating personal values into financial strategies can profoundly influence financial management. By identifying and incorporating what’s truly important to them, into their financial planning, women can profoundly impact their spending and investment choices. This approach not only meets their financial objectives but also ensures that their investment strategy resonates deeply with their personal beliefs, leading to a more satisfying management of wealth.

We use a values exercise with new clients and find it a very rewarding conversation for them, as well as us. Haven’t ever done one or not in a while, give this one a try. See what is most important to you and how you can apply that to your financial life. I promise you, it is a powerful and rewarding exercise.

4. Working with a Fee-only Financial Advisor

Choosing the right financial advisor is crucial for your financial success. A fee-only advisor, who aligns with your goals and vision, can be a valuable member of your team. This person should meet specific criteria (see our advisor checklist) to ensure a trustworthy and effective partnership. Such advisors play a pivotal role during major life transitions, which can significantly impact your financial stability. Women will find that a knowledgeable advisor helps in building a personalized financial strategy. This not only ensures alignment with their financial goals but also fosters independence and security.

Does your advisor call to check on you or take the time to see how you’re doing personally, not just your money? Work with someone that cares about you.

5. They aren’t afraid to take risks in their portfolio

Many wealthy women over 50 attribute their financial success to their willingness to embrace risk in their investment strategies. Rather than shying away from potentially high-reward opportunities, they recognize that calculated risks can lead to substantial returns. This bold approach often involves diversifying portfolios with a mix of stable investments and higher-risk options, allowing them to manage potential losses while capitalizing on growth opportunities. Their success underscores a crucial lesson: achieving significant wealth often requires stepping outside one’s comfort zone in the financial world.

As the year closes out and a new one begins, think about what you want to achieve. If you don’t know where to start or feel stuck, this is a great time to find your “guide”. Find an advisor that can help you take these five steps above so you too, can be a successful woman, prepared for rewarding future.

CAM Disclosure

M & A Consulting Group, LLC, doing business as CAM Investor Solutions is an SEC registered investment adviser. As a fee-only firm, we do not receive commissions nor sell any insurance products. We provide financial planning and investment information that we believe to be useful and accurate. However, there cannot be any guarantees. 

This blog has been provided solely for informational purposes and does not represent investment advice. Nor does it provide an opinion regarding fairness of any transaction. It does not constitute an offer, solicitation or a recommendation to buy or sell any particular security or instrument or to adopt any investment strategy.

Past performance is not a guarantee of future results. Diversification does not eliminate the risk of market loss. Tax planning and investment illustrations are provided for educational purposes and should not be considered tax advice or recommendations. Investors should seek additional advice from their financial advisor or tax professional.