The Women and Wealth Report 2025 from Schroders Personal Wealth (SPW) surveyed almost 500 women and used four significant life events – parenthood, divorce, retirement and bereavement – to analyse how women’s financial journeys differ to those of men.
It found there are gaps between women and men’s approaches to finances during all four of the life events it examined.
Women are much more likely to rely on friends and family for financial advice, rather than a financial adviser, and 25% of women reported that they had struggled to find a financial adviser they could trust.
The gender pay gap and career breaks due to caregiving responsibilities were cited by 37% of respondents as having impacted their ability to save.
Parenthood
The report found that just 11% of women consulted a financial adviser after becoming a parent. This compares to almost a quarter (23%) of men.
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Many women take career breaks to care for children, which has a knock-on effect on their finances – 59% of respondents said the loss of regular income after becoming a parent affected their ability to invest or save money.
And those who might want to return to employment may be put off by the surging costs of childcare.
Divorce
Almost two-thirds (63%) of respondents found that adjusting to life on a single income was their biggest post-divorce challenge.
Meanwhile, almost half (49%) of respondents named the loss of dual income as one of the ways their financial lives had changed post-divorce, with around the same number citing increased living expenses and a reduced ability to save and/or invest.
Over half (52%) of women said they relied on family and friends for financial support during this period, with only 13% consulting a financial adviser.
Retirement
Just 11% of respondents reported feeling ‘very confident’ about their retirement savings, compared to 25% of men.
The principal worry for women was insufficient savings, which was cited by 59% of respondents. Inflation and the rising cost of healthcare also came up as major concerns.
The report also identified a lack of financial knowledge as being a further challenge, and 25% of respondents cited it as an obstacle to retirement planning.
Bereavement
During what is already a difficult period, many women also face financial insecurity after the loss of a partner. Half of respondents cited the management of household expenses alone as the biggest financial challenge after the loss of a partner, followed closely by adjusting to a single income (as reported by 48%).
Over a third of women reported a need to reassess financial goals during this period, but just 19% of respondents utilised a financial adviser.
‘Everyone needs a plan’
Katie Nutting, financial planning director at SPW, said: “Everyone needs a plan. It’s important to know what you are working towards with your finances; otherwise, it’s impossible to know what dreams you can make into a reality. However, the financial plan you put in place at the start of your financial journey isn’t always the final version.
“Life can throw you unexpected events, and for many women, the biggest barrier they face is moving away from cash and into some form of investment. I don’t believe women are risk-averse, but they like to make informed decisions.”
She continued: “Therefore, making knowledge available, such as understanding how your investments and the income from them can fall as well as rise and are not guaranteed, as well as having access to quality advice, is really important.”
