Women, on average, live longer than men. That cold fact coupled with the rise of “gray divorce” means more women are predicted to be solely responsible for their financial management later in life.
Yet nearly half of women with male partners let their spouse take the lead in managing finances, and even larger percentages of millennials and women with advanced degrees report deferring to these spouses. These trends suggest the rate of growth in the wealth that women control could outpace their experience in actively managing it.
For those who aim to combat wealth inequality with business investment in diverse startup founders, this is a clear opportunity. This is changing already. In 2004, about 5% of angel investors were women — about 11,000. By 2016, around a quarter, or nearly 80,000, of active angel investors were women, according to the Center for Venture Research.
How can these trends be continued and sped? How can more women actively invest their wealth?
That was the focus of a webinar hosted lasted month by Technical.ly, featuring a live recording of Off the Sidelines, our investor education podcast sponsored by Project Entrepreneur, a program by UBS.
Project Entrepreneur is on a mission to change the status quo for women founders and accelerate their growth through increasing access to capital and building ecosystems to advance women entrepreneurs. It aims to improve the enabling environments for women founders and advance inclusive capital, making it a natural partner for this event and podcast series.
At the webinar, Technical.ly Philly reporter Paige Gross spoke with Jenny Abramson of Rethink Impact and Amy Griffin of G9 Ventures, two women with lots of experience in early-stage company investing. The panel covered personal stories of career growth and household financial philosophies to strategies for growing the number of women who actively invest. We also heard from Jamie Sears, head of community affairs and corporate responsibility for UBS Americas.
Check out the full episode to hear the conversation and find out what you can do to help close the gender wealth gap.
We have more episodes coming up this season with conversations from notable figures throughout the investing world, so be sure to subscribe and keep up to date with all our episodes.