Women: Know Your Worth

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Want to make smart, informed decisions about money? UMB strives to educate women to know their worth.

Let’s face it—money can often be a tricky, taboo topic. And this can be especially true among women. “But the time has come for that to change,” says Heather Miller, chief marketing officer at UMB Bank. “And I’m proud to be part of a team at UMB that’s working to empower women to not only talk more openly about money, but to better understand their financial situation and make smart, informed decisions.”

We sat down with Miller to discover what women bring to the table and how they can protect those financial assets. 

Is it true that women are significant influencers and controllers of wealth?
“That’s right. Although it may not be widely recognized, women control more than 60% of wealth in U.S. and it is estimated by 2028, women will control 75% of discretionary spending worldwide. That’s according to the Wall Street Journal.

“In addition, it’s estimated that 90% of women will be the primary manager of their finances at some point in their life, particularly given that women tend to outlive men.”

But does a pay gap still exist?
“Yes, women earn less and invest those earnings less than their male counterparts. Therefore, in their glory years, women older than 65 are 80% more likely than men to fall into poverty.

“At UMB, we see that there is an opportunity to educate and support the money management needs of women, which is why we’ve recently held several educational events and are continuing to make our Women and Wealth initiative a priority.”

How can UMB help?
“Our ultimate goal is to help women know their worth. As our current clients already know, we work to build relationships and truly understand each individual’s financial situation and goals so we can provide both education and guidance. We offer a broad variety of financial solutions that meet women wherever they are in life and whatever they have in the bank. 

“Whether it’s just starting out professionally, re-entering the workforce, managing a family, navigating a divorce, or preparing for retirement—our team is here to build a plan through all of life’s events and help women be equipped with the knowledge and support they need to meet their financial goals.”

What about growing and managing wealth? Do the same rules apply?
“One key aspect of our commitment to helping women know their worth is that we are a fiduciary, meaning that we have a fundamental obligation to act and provide advice in our clients’ best interest. This means that everything we do starts with you—always.

“I’m personally very excited about UMB’s commitment to this initiative and building on the programs we’ve already created. I hope you’ll join me on this journey of better understanding your own worth and helping others discover theirs as well.”

Want to know more? Connect with UMB to grow and plan for the life you want at umb.com/wxw.

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