Financial Power Is Self-Power: Why Women Over 40 Must Take Charge
Many of you know my story about how I let someone else manage my money and they lost it all, but what you may not know is that this happens more often than you might think.
Now, I’m not advocating that you don’t get help managing your money—because that is sometimes the best option—but I am advocating that whether you get help or not, that you understand money basics and, if you work with someone, how to manage the people who manage your money. This is especially true for women 40 and up, because you may have less time to financially recover from mistakes or losses.
So, here are my top three reasons to take charge of your money now:
- The Money Equality Gap Is Growing
Even though we’ve made great strides in many areas, women are still paid less on average than men—and that gap only widens with age. According to recent data, women over 40 are more likely to face wage stagnation, career interruptions, or be passed over for leadership roles. This means less money going into savings, investments, and retirement accounts.
Taking charge of your finances now helps you make the most of every dollar. It puts you in the driver’s seat to maximize earnings, invest wisely, and prepare for your future—on your terms.
- Financial Independence = Freedom
When you understand and own your financial life, you gain options. You can leave a job that no longer serves you. You can support a cause you care about. You can say no to toxic relationships, whether personal or professional, because you’re not financially dependent on someone else.
Financial independence gives you the power to make decisions from a place of strength, not fear. And if you’re 40 or older, you know that time is your most valuable asset—so you don’t want to spend another decade not knowing where your money is going.
- You Are Likely to Be the Sole Financial Decision-Maker at Some Point
Whether by choice, divorce, or death of a partner, many women eventually find themselves making financial decisions on their own. Statistically, women live longer than men, which means even if you’re in a relationship now, the odds are high that at some point, you’ll be managing everything solo.
Being financially literate now means you’ll be prepared later. It means less stress, fewer mistakes, and more confidence when those inevitable life changes come. And if you’re already on your own, then this is your moment to take back control—because no one will care more about your money than you do.
Final Thoughts
Taking charge of your money isn’t about knowing everything—it’s about being engaged, informed, and proactive. No matter your age or income level, you can start now. Learn the basics, ask the questions, and don’t be afraid to take the wheel. Your future self will thank you.
