Financial Advice Every Woman Should Hear
For more than two decades in financial planning, I’ve had a front-row seat to one of the most important shifts happening in wealth today — women stepping forward with confidence and taking control of their financial futures.
I see it everyday: women breaking through boardroom doors and taking their seats at the table, building businesses, leading organizations, all while guiding their families’ financial decisions with clarity and purpose.
And over the years, one thing has become very clear to me:
Women make exceptional investors.
Why is that? Its not just my opinion, its actually fact based. Research in behavioural finance continues to show that women often outperform men as investors — not because of intelligence, but because of behaviour.
Women tend to trade less frequently, take fewer impulsive risks, and stick more closely to long-term investment plans. In fact, studies have found that men trade about 45% more than women, and that excessive trading often results in lower returns due to poor timing.
Women are also more likely to research thoroughly, seek advice when needed, and make decisions with a clear understanding of their risk tolerance. They’re not afraid to ask questions, and once they’ve built trust in a plan, they tend to stay the course with remarkable discipline.
That combination — patience, planning, and emotional steadiness — is what consistently drives long-term investment success.
In my experience, that’s exactly what I see reflected in the women we work with every day.
Back in 2016, almost a decade ago, I was asked by a journalist from The Globe and Mail for my thoughts on an article she was writing titled “Dreaming of Owning a Home Comes True for More Single Women.” At the time, the discussion centred around the gender wage gap and how it affected women’s ability to save, invest, and purchase homes independently.
Then, the wage disparity sat at roughly 70 cents on the dollar compared to male counterparts with similar experience and responsibilities.
I am disappointed to say we are still not fully there yet, Equal pay for equal work is not something we should still be fighting for, It should be the standard — 100 cents on the dollar, no exceptions.
But the progress over the past decade has been meaningful. Today in Canada, women working full-time earn roughly 90 cents for every dollar earned by men, and among younger professionals the gap has narrowed even further to approximately 96 cents on the dollar.
The momentum is visible across many professions that were once overwhelmingly male-dominated. Today in Canada, women represent about 60% of university graduates, meaning the next generation of leaders is increasingly female. In medicine, women now make up nearly half of all physicians and the majority of family doctors, and in law they represent more than half of students entering the profession.
Even here in Northern Ontario, industries that have traditionally been male-dominated are evolving. In Canada’s mining sector, women now represent nearly one in five, with growing representation in engineering, technical roles, and leadership positions a remarkable shift for an industry that historically saw little to no women at all.
The financial industry is experiencing its own transformation. While women still represent less than 20% of financial advisors in Canada, they are increasingly shaping the wealth conversation. In fact, women are expected to control more than $4 trillion in wealth in the coming years. As more women step into the role of primary financial decision-makers, many are also seeking advisors who understand their perspectives, priorities, and long-term goals. The demand for female advisors is growing — and it’s a shift I’m proud to be part of.
These shifts matter. Education, professional leadership, and earning power all translate into greater financial independence and influence. Women are not just participating in the economy — they are increasingly shaping it!
Over the years, I’ve often been asked what advice I would give to young women just beginning their financial journey. My answer has remained both passionate and consistent for more than two decades.
In fact, if you’ve ever sat across the table from me in a meeting, shared a dinner or a glass of wine, or found yourself caught in one of my spirited conversations about money and independence, you’ve probably heard me say these words more than once…
Earn your own money.
Financial independence begins with earning power. Invest in the skills that increase your income — whether that’s education, leadership development, negotiation skills, or expanding your professional expertise.
Never turn down free education.
Strong organizations will always offer opportunities to grow your knowledge and skill set. Take them — every time. Even if you’re unsure whether you’ll stay in that career long-term. The skills you gain will always transfer, and every achievement builds a stronger professional foundation.
Protect your financial independence.
Understand your credit. Protect it carefully. Maintain your own financial identity regardless of your relationship status, and ensure that major financial decisions are made from a position of stability and independence.
Relationships should always be partnerships — never financial dependencies.
Negotiate your value.
Always understand your market value and advocate for it. Even small differences in salary early in a career can translate into significant differences in lifetime wealth.
Learn to invest early.
Saving is important, but investing is what builds long-term wealth. Even modest amounts invested consistently over time can grow significantly thanks to the power of compounding.
Save what you can afford — even if it starts small. The habit you build is often the most important investment of all.
Avoid lifestyle inflation.
As income grows, direct increases toward investing first while keeping fixed costs manageable. Wealth grows from what you keep and invest — not simply what you earn.
A simple rule I often suggest: when you receive a raise, rewards yourself and enjoy half of it and invest the other half.
Build a safety net.
Start to establish an emergency fund — typically three to six months of expenses provides security and flexibility when life inevitably throws something unexpected your way, because it will!
And perhaps most important:
Remember that wealth creates choices.
Money should never be perceived as luxury. At its core, financial security provides freedom, safety, time, and independence. It allows women to make decisions about their careers, families, and futures from a position of strength.
That’s real empowerment.
And lastly, to all of my female clients reading this — you know who you are.
You dominate our practice.
It gives me enormous pride to say that the majority of new clients joining our firm today are female professionals and executives. And even in households that come to us as families, the shift is unmistakable.
More often than not, you are the ones leading the meetings. You are building your careers or running your businesses while raising your children. You are asking the tough questions. And you are making the decisions.
And let me be clear — this is not to diminish the many incredible partners and spouses who are also working hard and supporting their families every day. Strong partnerships are often behind strong families and successful careers. But this week, with International Women’s Day around the corner, it’s a moment to recognize the women who are stepping forward with confidence and helping redefine what leadership and financial independence look like.
And those same values are reflected within our own walls.
The incredible women who help run our practice show up every day with that same commitment, building their careers, supporting our clients with care, professionalism, and pride, while raising families. Our office simply would not be what it is without them.
Because of that, we’ve always believed that career and family should never have to compete with one another. When our children need us, they come first — and that should never come at the expense of our careers.
That philosophy is part of why you’ll find a children’s room in our office. It’s a small reflection of what we believe: our families are part of our lives, not something separate from them. Whether it’s a PA day, a “not-so-sick” sick day, or simply a day when we can bring them along, our children are always welcome here.
It may seem like a small thing, but to us it’s a reminder that the next generation is always part of the work we’re doing.
So women, take a moment to recognize what you’ve built — your careers, your families, your financial independence, and the example you are setting for the next generation.
Because the future of wealth is not just changing.
Women are leading it.