close
You are now leaving the peoples.com website and entering an external website.
Ok
Cancel
Important

You must have a People's United Bank personal checking account to access AlwaysChecking.

Don't yet have a checking account?

Explore checking

Skip to navigation Skip to main content Skip to login Skip to footer
People's United Bank, N.A, is now part of M&T Bank. Today, keep banking the way you always do. Learn more
menu
People's United logo with tagline, A division of M&T Bank
  • search
  • Log in Log in
arrow_drop_up
  • Personal
  • Business
  • Other
Invalid Character
Can't Login? Enroll in Online Banking
Invalid Company ID
Invalid User ID
Can't login? Enroll in eTreasury+
  • Online Investing
  • Commercial Credit Cards
  • Client Point
  • Consumer Loan Servicing
  • LockBox Exceptions
  • LockBox Research
  • Personal Credit Card
  • United Bank Credit Card
  • Retirement iPlan
  • Shareholder Services
  • One-Time Loan Payment
  • PCLC Online Payments
Search search
Site Menu
  • Personal
  • Business
  • Wealth
    • Personal
      • PRIORITIES
      • Personal Investing
      • Saving for Education
      • Retirement Planning
      • Trusts, Estates and Charitable Planning
      • Insurance, Income and Annuities
      • Private Banking
      • IRAs
      • CAPABILITIES
      • Investment Strategies
      • Philosophy
      • Process
      • People
      • Systematic Investing
      • Brokerage Services
      • About People's United Advisors
      • About People’s Securities Inc.
    • Institutional
      • PRIORITIES
      • Institutional Investing
      • Retirement Solutions
      • Global Custody and Escrow Services
      • Cash Management
      • Business Wealth Management
      • Private Banking
      • CAPABILITIES
      • Investment Strategies
      • Philosophy
      • Process
      • People
      • Systematic Investing
      • About People's United Advisors
    • Insights
      • OUTLOOK
      • Monthly Insights
      • Quarterly Magazine
      • In the News
      • LEARN MORE
      • Advice
      • Investing
      • Retirement
      • Trust and Estate
    • Working With Us
      • OUR ADVISORS
      • Find an Advisor
      • INVESTMENT TEAM
      • Meet Our Team
  • ATM & Branch
  • Customer Support
  • About Us
  • Careers
  • About Us
  • Careers
  • Personal
  • Business
  • Wealth
  • ATM & Branch
  • Customer Support
Peole's United logo with tagline,  A Division of  M&T Bank
  • Personal arrow_drop_up
    • PRIORITIES
    • Personal Investing
    • Saving for Education
    • Retirement Planning
    • Trusts, Estates and Charitable Planning
    • Insurance, Income and Annuities
    • Private Banking
    • IRAs
    • CAPABILITIES
    • Investment Strategies
    • Philosophy
    • Process
    • People
    • Systematic Investing
    • Brokerage Services
    • About People's United Advisors
    • About People’s Securities Inc.
  • Institutional arrow_drop_up
    • PRIORITIES
    • Institutional Investing
    • Retirement Solutions
    • Global Custody and Escrow Services
    • Cash Management
    • Business Wealth Management
    • Private Banking
    • CAPABILITIES
    • Investment Strategies
    • Philosophy
    • Process
    • People
    • Systematic Investing
    • About People's United Advisors
  • Insights arrow_drop_up
    • OUTLOOK
    • Monthly Insights
    • Quarterly Magazine
    • In the News
    • LEARN MORE
    • Advice
    • Investing
    • Retirement
    • Trust and Estate
  • Working With Us arrow_drop_up
    • OUR ADVISORS
    • Find an Advisor
    • INVESTMENT TEAM
    • Meet Our Team
  • search
  • Log in
arrow_drop_up
  • Personal
  • Business
  • Other
Invalid Character
Can't Login? Enroll in Online Banking
Invalid Company ID
Invalid User ID
Can't login? Enroll in eTreasury+
  • Online Investing
  • Commercial Credit Cards
  • Client Point
  • Consumer Loan Servicing
  • LockBox Exceptions
  • LockBox Research
  • Personal Credit Card
  • United Bank Credit Card
  • Retirement iPlan
  • Shareholder Services
  • One-Time Loan Payment
  • PCLC Online Payments
close

Women’s Work: Finances, Investments, and Estates

A woman in a gray tshirt and jeans sits cross-legged on the floor smiling holding a yellow coffee mug, with a ladder and paint can behind her
SAVE PDF

It’s said that ‘A women’s work is never done.’ And, while that may be true, maybe that’s a good thing. Women are living longer than men and are responsible for much of their own financial security. In other words, they’re financially empowered and independent.1

The same rules of the road that wise investment and financial advisors have espoused, most certainly apply to women. So, it’s time to get to work. And there’s no better time than today to get comfortable with your finances.


Controlling More Wealth

As of 2017, the life expectancy of American women was 81.2 years, on average, versus 76.3 for men.1 And so women are more likely to be widowed than men—four times more likely.2 Not to mention that some 39% of American marriages are now ending in divorce.3

In fact, at some point in their lives, as many as 90% of American women will find themselves solely responsible for their own security or their families’.4 Indeed, the amount of money in women’s hands today is eye-opening: as much as an estimated $20 trillion.5 What are the implications of managing such a vast trove of assets? 


A Few of the Basics

We’d point first to some evergreen rules of finance that women should understand and implement; among them: 

  • Setting up an emergency fund in cash to get them through at least six to nine months (several years, if earned income is out of the picture).
  • Devising a long-term financial plan customized to achieve their lifestyle goals.
  • Investing in a diversified portfolio of growth-and income-oriented assets.
  • Holding insurance—especially health insurance and long-term-care policies.
  • Keeping a close eye on retirement income, remembering too that it’s after-tax income that counts.
  • Arranging for gifts to family members, charities, and others with strategies that may include annual gifting, lifetime gifts, bequests, and trusts.
  • Preparing an estate plan—even for assets far from the top 1%.
  • Taking maximum advantage of pensions and (famously complicated) Social Security.

And never forget that everything takes a back seat to assuring the financial well-being of Numero Uno (that’s you).


Do Women Handle Finances Differently?

Many studies indicate that women are generally less-aggressive investors, placing a higher premium than men on preserving capital than beating the markets. Further, many women tend to sit on the sidelines waiting to feel more confident. Only about one-quarter of affluent women in a recent study said they were comfortable making investment- and savings-related decisions, 15 percentage points behind men.6 Still—perhaps because of this confidence issue—women were more likely than men to plan for retirement. (So much in finance is a double-edged sword!).


Don’t Go It Alone

As to broad investment goals, women are more apt to focus on “bread-and-butter” issues like paying the bills—probably a result of shouldering the lion’s share of family caregiving for years. And women seem to realize even more than men that professional advice is critical—though a smaller share talk with their advisors frequently.7 Perhaps that discrepancy will fade as women’s financial confidence grows.

In sum, financial power is liberating!


1 https://www.suntrust.com/content/dam/suntrust/us/en/resource-center/documents/2018/infographic-financial-issues-facing-women.pdf
2 https://concentuswealth.com/estate-planning-a-womans-perspective/
3 https://time.com/5434949/divorce-rate-children-marriage-benefits/
4 See Footnote #1.
5 https://www.usbank.com/newsroom/stories/survey-says-women-are-leaving-money-and-influence-on-the-table.html
6 https://www.mckinsey.com/industries/financial-services/our-insights/ women-as-the-next-wave-of-growth-in-us-wealth-management.

Related Articles

Basic Estate Planning: Tools Everyone Needs to Know About

Intermediate Estate Planning: Gifting, Insurance and Trusts

Life Insurance as an Estate Planning Tool

Estate Planning in the New Tax Regime

People’s United Advisors can help

Come see us about prudent investing.

Red and blue telephone. Call this phone number for help, to speak with an expert or for more information

800-772-8778

People's United Advisors official logo

People's United Bank, N.A. merged into M&T Bank. It is now People's United, a Division of M&T Bank. Although account documentation or other materials may continue to reflect the People's United Bank, N.A. name or logo, new wealth management accounts opened on or after that date will be opened with M&T Bank or it's People's United Advisors Inc. or Wilmington Trust, N.A. affiliates. For more information please go to www.wilmingtontrust.com, reach out to your relationship manager or refer to your account agreement(s).

Investment products are offered through People’s United Advisors, Inc., a registered investment advisor. People’s United Advisors, Inc. is a wholly-owned subsidiary of M&T Bank. Investment products may involve risk, including possible loss of principal.

Investment Products:

• Are Not Insured by FDIC or any Federal Government Agency
• Are Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
• May Go Down in Value


Form CRS - ADV Part 2A - Privacy Policy - Legal Disclosure

PUA is not soliciting any action based on this material. It is for general informational purposes only. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual investors.

On April 2, 2022, People’s United Bank, N.A. merged into M&T Bank. It is now part of M&T Bank and its former branches and most services will operate as the People’s United division of M&T Bank until we complete the integration of our systems later in 2022. M&T Bank is a Member FDIC, Equal Housing Lender and Equal Opportunity Lender.

By using People's United Online Banking, you agree to the People's United Electronic Services Agreement.

ABOUT
  • About Us
  • Careers
  • Community
  • Press Room
  • Investor Relations
SITES
  • Personal
  • Business
  • Wealth
  • Site Feedback
SERVICE AND SUPPORT
  • Support Center
  • Security Center
  • Find a Branch
  • Mobile Banking
  • Online Banking
TERMS & CONDITIONS
  • Privacy
  • Online Terms
  • Servicemember Information
  • Accessibility Options
Peole's United logo with tagline,  A Division of  M&T Bank