How women investors are managing economic pressures to secure their retirement

Planning for retirement while balancing competing financial priorities requires more than good intentions—it takes strategic planning and professional guidance. This is especially true for women investors, who often face unique challenges that can significantly impact their long-term financial goals.

Nationwide recently polled over 1,000 women investors as part of our Advisor Authority survey, powered by the Nationwide Retirement Institute^®. Our survey found that economic pressures have prompted 64% of women to significantly change their retirement expectations in the last five years. 

The results highlight substantial differences in the financial challenges women face across generations and how those challenges are impacting their outlook for retirement. While younger women are prioritizing managing and reducing debt, women in older generations are focused on planning for retirement living costs. 

These differing priorities across generations point to one common theme: everyone can benefit from personalized guidance. Regardless of your age or life stage, working with a financial professional can help you with financial priorities such as balancing your budget, building an investment strategy, and planning for the retirement you want.

Many women are rethinking their retirement plans due to varying economic pressures. Persistent inflation, market volatility, fluctuating interest rates, daily financial commitments, and caregiving responsibilities are just some of the obstacles women face as they save and invest for the future. These changes represent fundamental shifts in how women investors envision their retirement. For some, it may mean building a balanced investment portfolio to help weather market highs and lows and economic uncertainty as they prepare for retirement. 

For others, it may mean working longer than planned or reconsidering what retirement might look like altogether. This is where professional financial guidance becomes invaluable, as it can help women adapt their financial strategies to changing economic and market realities while staying focused on long-term goals.

The impact has been most significant for women in younger generations, with 72% of Gen Z and 74% of Millennial women reporting changed expectations. This heavier impact on younger women makes sense—they're facing these economic pressures during foundational early career and family-forming years when financial decisions have long-lasting effects. Many are balancing student loan debt, immediate financial priorities, and caregiving duties, creating a challenging environment for building retirement savings. 

The good news? These younger investors still have time to make adjustments and build confidence in their ability to be financially ready for retirement. Having a financial professional in your corner early can help transform these challenges into opportunities through personalized strategies that grow with you over time.

How financial professionals support women investors

Understanding what matters most to women investors can help financial professionals provide more targeted guidance. Financial priorities vary significantly across generations after covering basic expenses (the top financial commitment across all age groups). These generational differences are often reflected in the conversations women have with their financial professionals. Younger women typically focus on managing debt, including credit cards and student loans, while Gen X and Boomer women want to solidify their long-term financial planning for retirement.

Caregiving responsibilities add another layer of complexity to the financial challenges women investors face. Two-thirds report that their careers have been impacted by caregiving duties. Whether it means changing career paths, working fewer hours, or taking extended family leave, caregiving duties can meaningfully impact women’s earning power.

Financial professionals can help women tackle these caregiving-related challenges through various financial strategies:

• Maximizing tax deductions and credits (i.e., declaring dependents on tax returns, Child Tax Credit, deduction of medical expenses, etc.) 
• Helping to balance savings and spending with financial goals
• Prioritizing retirement savings over other expenses 
• Leveraging long-term care insurance for aging parents 

It’s important to take a long-term view when it comes to building financial security. A financial professional can help create a personalized plan that addresses both immediate concerns and long-term goals.

For younger women, this might mean developing strategies to manage debt while also contributing to retirement accounts. For Gen X women, it could involve maximizing catch-up contributions and exploring investment options to help them meet their retirement savings goals. For Boomer women, the focus might be on creating a sustainable income strategy and planning for healthcare expenses.

Take action today to plan for the future you envision

Economic pressures and caregiving responsibilities may present near-term challenges, but they don't have to derail your retirement plans. Financial guidance tailored to your unique situation can help you develop effective financial strategies and build a clear path to retirement with confidence.

Want to work with a financial professional? Nationwide offers resources and support to help you connect with someone who understands how to navigate the unique challenges women investors face and can help you build financial security for the future.