The year 2020 was challenging for everyone. Parents assumed the role of teachers and tutors, family members became primary caregivers, loved ones were lost, and everyone had to adapt to the “new normal.” Areas in our lives that required additional support, and the need for improvement in communication with our families, friends and advisers were highlighted. Individuals were forced to ask the question: “What if?” What if something happened to me and my spouse, what if my business lost its leader, what if I had to take control of my family’s future?

For many women, a “what if?” situation leaves them in the dark with regard to finances and wealth. In the past, women played a more traditional role in their households. Women were responsible for homemaking and were less likely to be employed outside of the home. In 2021, while many women still choose to stay at home, that is no longer the expectation. Women are the primary or sole breadwinners in 40% of U.S. households. Additionally, four out of 10 U.S. businesses are owned by women. See, “Women & Wealth, Prosper Manning & Napier’s Guide to Financial Planning,” July 2020, at 15-17.