Women, Wealth, and Leadership: Why Financial Planning Is a Leadership Skill

By Rachel Edward, Financial Planner at Edward Jones, Ontario, Canada

Financial leadership is no longer optional for women — it is essential. As women step into greater leadership roles across business, corporate, and community spaces, financial planning has become a critical component of sustainable leadership and long-term success.

By 2030, women are expected to control nearly two-thirds of global wealth. In Canada alone, women are projected to inherit approximately $900 billion over the next decade, driven by longer life expectancy and intergenerational wealth transfers. Despite this shift, many women leaders still lack a formal financial plan aligned with their values, leadership responsibilities, and long-term vision.

This gap presents both risk and opportunity. Women who take proactive control of their finances position themselves not only for personal security, but for stronger leadership, influence, and generational impact.

Financial Planning for Women Leaders Starts With Values

True financial empowerment begins with clarity. Before discussing investments, retirement strategies, or estate planning, women leaders must first understand their personal values.

Values drive financial decision-making. When women imagine a future where their financial goals are fully achieved, common themes often emerge:

• Financial security and independence

• Freedom from financial stress

• Flexibility and choice

• Peace of mind

• Confidence in the future

These values form the foundation of meaningful financial goal setting. For women in leadership roles, aligning money with values ensures that financial strategies support—not compete with—career ambitions, family priorities, and leadership commitments.

Common Financial Goals Among Women in Leadership

While every financial journey is unique, women leaders across industries often share similar financial priorities, including:

• Managing and reducing personal or business debt

• Buying a primary residence, second home, or cottage

• Achieving financial independence

• Planning for a comfortable and flexible retirement

• Funding travel and lifestyle goals

• Preparing for inheritances and wealth transitions

• Building financial resilience through life changes

Identifying these goals clearly is the first step. The next is creating a strategy to achieve them.

Turning Financial Goals Into Actionable Strategy

Financial leadership is not just about planning — it’s about execution. Without action, even the most thoughtful financial goals remain theoretical.

A comprehensive financial plan for women leaders typically includes:

1. Financial Assessment and Cash Flow Planning

Understanding income, expenses, budgeting, debt management, and cash flow sustainability.

2. Investment and Asset Strategies

Creating appropriate asset allocation, investment management, and long-term growth strategies aligned with risk tolerance.

3. Tax Planning

Using tax-efficient strategies to protect and grow wealth over time.

4. Retirement Planning

Defining when, where, and how retirement will look, including income sustainability and lifestyle planning.

5. Risk Management

Preparing for unexpected events through insurance, contingency planning, and financial safeguards.

6. Estate and Legacy Planning

Planning for wealth transfer, family protection, and long-term legacy goals.

Together, these elements create a resilient financial framework that supports both leadership longevity and personal confidence.

Why Ongoing Financial Review Is Critical for Women Leaders

Financial planning is not a one-time exercise. Leadership roles evolve, careers shift, families grow, and markets change. Regular financial reviews ensure that strategies remain aligned with current realities.

Women who actively review and adjust their financial plans maintain control, flexibility, and confidence. Delaying financial decisions often leads to reactive choices during moments of stress or transition — precisely when clarity matters most.

Financial planning is an act of leadership. The earlier it begins, the more powerful its impact.

Five Questions Every Woman Leader Should Ask About Her Finances

Strong financial leadership is anchored by five essential questions:

1. Where am I today financially?

2. Where would I like to be?

3. Can I realistically get there?

4. How will I get there?

5. How can I stay on track over time?

These questions help bridge the gap between vision and execution, turning financial uncertainty into strategic clarity.

Taking Action: Small Steps Create Long-Term Financial Confidence

Financial empowerment begins with one intentional step. For women leaders, progress might look like this:

• Within 48 hours: Set aside time to review household or personal finances

• Within one week: Gather financial accounts and statements

• Within two weeks: Complete a monthly budget worksheet

• Within one month: Meet with a financial advisor to align goals and strategy

• Within three months: Begin implementing the financial plan

• Within one year: Review progress and refine the strategy

The most important principle is simple: the sooner women take ownership of their financial leadership, the greater their long-term freedom, influence, and security.

Rachel Edward is a financial planner at Edward Jones located in Ontario Canada and our regular presenter and contributor.