Women’s financial plans should be built for real life, not a perfect future

What struck me is just how common significant life changes are for women. 

Nearly half of women told us they had experienced a major life event within the past two years. These are not isolated events. They are realities that many women will encounter at different stages of life. 

Financial plans are often built around the idea that life will follow a predictable path. But for many women, life includes periods of caregiving, health challenges, career changes, and other transitions that can affect both income and long-term goals. The research reinforces the need for financial plans that can adapt as circumstances change. 

One of the clearest examples is retirement. 

Our research found that nearly one in five women have delayed retirement. Women are also twice as likely to postpone retirement as they are to retire earlier than planned. Rising living costs and insufficient savings were among the most common reasons. 

These findings highlight an important reality: financial planning is not about creating a plan that works only when everything goes according to plan. It is about building resilience into a financial strategy so people can adjust when life changes. 

Many people assume financial knowledge is the biggest barrier to achieving financial goals. But confidence plays an equally important role. 

Twenty per cent of women told us that a lack of confidence in their financial decisions is holding them back—more than those who cited a lack of financial knowledge. 

When people feel uncertain, they may delay making important decisions or avoid them altogether. That can make it harder to stay on track toward long-term goals. Building confidence helps people move from uncertainty to action. 

Advice becomes especially valuable during periods of change. 

A good advisor does more than help with investments or retirement projections. They take the time to understand a person's goals, priorities, and circumstances, then help them adapt their plans as those circumstances evolve. 

Whether someone is taking time away from work to care for a family member, navigating a health challenge, changing careers, or preparing for retirement, having a trusted advisor can provide clarity and help them make informed decisions. 

The findings reinforce the value of trusted professional advice. 

Women who work with an advisor are significantly more likely to feel prepared for retirement than those who do not. While everyone's situation is different, advice can help people understand their options, weigh trade-offs, and create a plan that reflects their unique goals and realities. 

Don't wait for a major life event to start planning for one. 

Many of life's biggest changes are impossible to predict, but preparing for uncertainty is possible. The strongest financial plans are not built around a perfect future. They are built to evolve with real life. 

Having a flexible plan and trusted advice can help women navigate change with greater confidence and continue making progress toward the goals that matter most.