Retirement

Women on the Rise

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

Weekly Market Commentary

Each week the LPL Financial Research team assembles thoughtful insight on market and economic news.

Download Market Commentary

Download Economic Commentary

Stephen Eldridge has more than 49 years of direct industry experience, having founded Stephen Eldridge & Company, a retirement plan administration firm, in 1972. Early in his career, following the passage of the Employee Retirement...

Susan B. Eldridge

Susan Eldridge is president and chief compliance officer of Eldridge Investment Advisors, Inc. She also serves as branch practice manager for the LPL Financial broker/dealer branch office.

Craig A. Garner, CPFA

Craig Garner, a 31-year veteran of the firm, provides education and assistance in a number of areas, including plan document review, ERISA guidance and ongoing compliance education. Craig also conducts operational plan reviews that...

Eric J. Putney, MBA, PPC, AIF®

A registered financial advisor and Professional Plan Consultant (PPC™), Eric Putney attained the Accredited Investment Fiduciary® (AIF®) designation for advanced training in investment fiduciary responsibility. He brings...

Sean P. Riley

With over 27 years of experience working in asset management and employer sponsored retirement plans, Sean Riley brings an insider’s perspective to his role as a consultant and advisor for our clients. Sean joined the firm in...

Kevin D. Whitmore

Kevin Whitmore brings over four decades of securities industry experience to his role as a financial advisor. After earning a B.A. in business and economics from St. Anselm College, Kevin began his career in the securities business...

Susan Lipsett

Susan Lipsett is a research assistant and administrative assistant supporting the firms’ client portfolio managers as well as financial advisors Sean Riley and Kevin Whitmore. She collects and distributes...

Leslie J. Maffee

Leslie Maffee oversees the daily operations of the branch office and is a LPL Registered Sales Assistant to Stephen Eldridge and Eric Putney. She has more than 30 years of experience in branch office operations (over 20 years with...

Meg E. Dworkin

Meg Dworkin provides support for the registered assistants in addition to being a member of the retirement plan team. She has 20+ years of experience in the areas of defined contribution, defined benefit and individual taxation. Meg...

Stephen Murray

With over 20 years of experience in the investment industry, Stephen Murray provides research analysis and portfolio management. Prior to joining the firm in 2016, he was Director of Research and Portfolio Manager with Harvest Capital...

Justin B. Eldridge

Justin joined the firm in 2016 to assist in the areas of sales and research and has since taken on the role of financial advisor. He oversees the quarterly reporting of retirement plans and implementation of financial planning software...

Women on the Rise

Related Content

Ways to Supplement Your Medicare Coverage

Choosing a Business Structure

Insuring Your Business Against Cyber Liability