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Retirement

Women on the Rise

Women on the Rise Conquering: Unique Retirement Challenges. Financial success is a goal for many, but women face unique barriers that can make that goal more difficult to achieve. Understanding today’s financial landscape can help women rise to the challenge, know their worth, and take control of their futures.Daunting Realities Although history has seen some significant progress for women over the last century, there’s still a long way to go toward financial equality. Women make 82.3 cents for every dollar their male counterparts make in a similar job. (1) The average Social Security retired worker benefit for women is $16,496 per year, compared with $20,921 for men. (2) 46% of married women in their 50s in two-income households are at risk of being unable to maintain their standard of living in retirement. 32% of married women in their 50s in one-income households are at risk of being unable to maintain their standard of living in retirement. 40% of single women in their 50s are at risk of being unable to maintain their standard of living in retirement. (3)Enormous Potential The truth is, women wield a huge amount of influence over the economy, and their impact is only likely to grow. Women control 51% of all personal wealth in the United States today. (4) Over the next 40 years, women stand to inherit $28.7 trillion in intergenerational wealth. (5) On average, women save 9% of their salary. That’s almost a full percent higher than men. (6)Increasing Impact The numbers don’t lie: more women are successfully founding and leading businesses than ever, with impressive results. There are 114% more women entrepreneurs than there were 20 years ago. (7) Black women own 42% of new businesses owned by women and 36% of Black-owned employer businesses. (8) Women launch more than 1,200 new businesses every single day in the U.S. (9)Support for the Journey Many women report having strong relationships with their financial professionals. In fact, 70% of women say they would refer their financial rpfessional to a friend or relative. Whatever your financial needs, we're here to help (10). Sources: 1. DOL.gov, 2021; 2. SSA.gov, 2020; 3. Prudential.com, 2019 (latest data available); 4. FA-mag, 2020; 5. Visualcapitalist.com, 2019; 6. Visualcapitalist.com, 2019; 7. WhattoBecome.com, 2021; 8. Forbes.com, October 26, 2020; 9. BusinessNewsDaily.com, 2021; 10. ML.com, 2021
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

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At MyICON, our focus is to provide our clients with strategic, knowledge-based consulting and advice. At times, we may also assist our clients with securities related services. We are currently registered in: Alaska, Arizona, California, District of Columbia, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Minnesota, New Jersey, New York, Ohio, Oregon, Pennsylvania, Texas and Washington. Our website is only intended for residents of these states or for individuals interested in MyICON's financial planning and consulting services. By viewing our site, you verify that you meet one of these criteria.

Fee based consulting and financial planning services offered through MyICON, an independently owned and operated Registered Investment Advisor. Investment advisory services offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and MyICON are separate entities from LPL Financial. Securities offered through LPL Financial, Member FINRA & SIPC.

Locally owned and independently operated, MyICON is one of the industry's leading comprehensive wealth management and financial planning services firms serving Seattle, Bellevue, Kirkland, and the Northwest. As a Registered Investment Advisor firm in the state of Washington, MyICON has a team of Wealth Managers, CFP® professionals, Financial Planners, and Financial Advisors here to help you objectively manage your family's wealth.

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MyICON
Office: (425) 562-ICON
Toll-Free: (866) MyICON4
Fax: (425) 746-ICON

520 6th Street South
Kirkland, WA 98033

info@MyICON.com

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