Here is the stat that should change everything: women hold just 32 cents for every dollar of wealth men possess. For women of color and single mothers, that gap is even wider, as Sherron Permashwar, CPA, has noted in her widely shared financial empowerment work. And yet, something remarkable is happening.
A new study from J.P. Morgan Wealth Management found that most of the women set to inherit roughly $9 trillion over the coming decades are not counting on it to meet their financial goals. Nearly three in four women report they’re already on track to achieve their financial milestones independently — a seismic shift in financial confidence that would have been unthinkable a generation ago.
This is the new money story. And it’s being written by you.
The Five Pillars of Women’s Financial Independence
Whether you’re just starting to build wealth or looking to solidify what you’ve already created, financial independence rests on five interconnected pillars:
1. Financial Literacy as a Non-Negotiable Only 49% of women feel knowledgeable about building wealth, compared to 66% of men, according to New York Life’s 2024 Wealth Watch study as reported by Bankrate. That gap is not innate — it’s the product of systems that historically excluded women from financial conversations. Closing it starts with education: read, ask questions, and seek community. Podcasts, financial communities, and books like Get Good with Money by Tiffany Aliche (The Budgetnista) are excellent starting points.
2. A Budget That Works for Your Life Budgeting is not punishment — it’s power. The zero-based budget model, where every dollar is intentionally assigned to savings, investment, or essentials, is particularly effective for women who want to see their money working purposefully. Review your spending quarterly, not just annually.
3. Investing Early and Consistently Women investors actually outperform men by an average of 0.4% annually when they invest with confidence, according to research cited by Ashton Thomas Private Wealth. The key word is when. Too many women wait — waiting to earn more, waiting to pay off debt, waiting to feel ready. Start small, start now. Index funds, 401(k) contributions, and Roth IRAs are accessible entry points that compound powerfully over time.
4. Multiple Income Streams As the Entreprenista Network has articulated clearly: your business or job is an incredible asset, but it should not be your only one. True financial freedom comes from having multiple income streams — brokerage accounts, rental income, digital products, dividend investments — that support you beyond your primary income.
5. Protection and Legacy An emergency fund of three to six months of living expenses is the financial foundation that makes all other wealth-building possible. Beyond that, think about insurance, estate planning, and what kind of financial legacy you want to leave. Women who are widowed or divorced are especially vulnerable to financial disruption — and specialized advice during those transitions can be life-changing.
Your First Move
You don’t need a windfall to begin. You need intention. Open one account today — whether it’s a high-yield savings account, a brokerage account, or a Roth IRA — and contribute something to it. Then build from there.
Financial independence is not a destination. It is a practice. And it starts with the decision to begin.
