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Women are living longer. What it means for your finances and retirement

Written by
Edward Jones logoEdward Jones
• Published August 8, 2025 • Updated August 8, 2025
Women are living longer. What it means for your finances and retirement

Quick Facts

What is a solid estate strategy for women?
A solid estate strategy for women involves planning to ensure assets are distributed per their wishes, as emphasized by Edward Jones.
Why is estate planning crucial for women now?
Estate planning is crucial to control asset distribution, preserve value, and ease family burdens, as highlighted in the article.
What are three reasons to establish an estate plan?
The article lists control over asset distribution, value preservation, and simplifying matters for family as key reasons.
How does an estate strategy differ for single women?
Single women need estate strategies to manage assets solely in their name, ensuring their wishes are honored, unlike joint ownership benefits.
Where can I learn more about estate planning tools?
Discuss tools like living wills and trusts with an attorney, or visit Edward Jones online for more guidance on financial strategies.
Do I really need an estate plan if I don't have much money?
Yes. Estate planning isn't just for wealthy people. It's about making things easier for your family and ensuring your wishes are followed, regardless of your net worth. Having a plan in place protects your loved ones from confusion and stress during a difficult time, and it gives you control over what happens to your assets and personal care decisions.
What happens to my assets if I don't have an estate plan?
Without an estate plan, the state decides how your assets are distributed based on inheritance laws, not your wishes. Additionally, a significant portion of your assets could go to taxes or unnecessary expenses. Your family may also face confusion about your healthcare wishes and personal preferences, making an already difficult time even more complicated.
Is a will enough to protect my family?
A will is helpful, but it's not enough on its own. A will only takes effect after you pass away and doesn't address what happens if you become incapacitated. A comprehensive estate plan includes tools like living wills, healthcare power of attorney, and trusts that protect you and your family in various situations and give more control over how your assets are ultimately distributed.
What should I do first if I want to start estate planning?
Start by educating yourself about estate planning options and tools available to you. Common tools include living wills (health care directives), healthcare power of attorney, and trusts. Consider discussing these options with an estate-planning attorney who can help you understand which tools are right for your specific situation and goals.
How can I make sure my family knows what I want?
An estate plan lets you clearly document and communicate your wishes in writing. This includes decisions about your healthcare, who manages your assets, how your money should be distributed, and any special instructions for loved ones or causes you care about. Having these decisions in writing removes guesswork and gives your family clear guidance during a difficult time.

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If you're married, you may own many of your financial assets jointly with your spouse, which can help simplify things in the event you pass away. But what about assets that are in your name only? Or, what if you're single or widowed? 

Many women own assets they hope to pass on to loved ones and causes they care about. Ensuring that your assets are handled according to your wishes requires planning ahead. Yet, two common misconceptions prevent many people from taking adequate steps.

Myth 1: I have a will. That’s all I need.

A will takes effect only upon your death. Wills don't protect the legacy you've built if you become incapacitated. Nor can they cover how your wealth should be handled once your beneficiaries receive it.

Myth 2: Estate planning is for people with a lot of money

A desire to make things easier for your family has nothing to do with your net worth. Documenting and communicating your wishes reduces the burden on loved ones and gives you control.

Three reasons to establish an estate strategy

  1. An estate strategy gives you control. At its most basic, an estate plan lets you decide how things will be handled rather than the state. You decide how you will take care of yourself and the people and causes you care about. 
  2. An estate strategy may help you preserve the value of what you’ve worked so hard for. Without proper planning, a significant portion of your assets could go to taxes or unnecessary expenses. 
  3. An estate strategy is designed to make things easier for your family because you can clearly spell out your wishes.

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Start by educating yourself

Becoming educated about estate considerations as well as your various options is the first step. Here are some common tools you may wish to discuss with an estate-planning attorney:

  • Health care directive, or living will – A living will allows you to specify actions to take for your health in the event you become unable to make decisions for yourself.
  • Health care power of attorney – With a health care power of attorney, you can name someone to make medical decisions on your behalf, such as requesting or refusing medical treatment.
  • Trust – A trust can be set up to address a variety of needs, from supporting charities to setting guidelines about how your assets are distributed to your heirs. Learn more.

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Women have unique financial needs, and Edward Jones is here to empower them to take ownership of their financial futures. We partner with women investors to understand their goals and concerns and develop a financial strategy that helps put them on the path to financial success.

Lena Haas
Head of Wealth Management Advice & Solutions

How we can help

No one wants her loved ones to face burdens because she didn't adequately prepare. While Edward Jones does not offer estate-planning services, we care about everything that's important to you. So, working with you, your attorney and your tax professional, we can help build financial strategies that take your legacy wishes into consideration.

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Quote originally found here: https://www.edwardjones.com/us-en/market-news-insights/personal-finance/women-investors  

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