How Women Can Build Generational Wealth — Even If They’re Starting Late

Building generational wealth is often seen as a long-term goal, but it’s never too late for women to start, even if they feel like they’re behind. According to a report by the National Women’s Law Center, women in the U.S. earn about 82 cents for every dollar earned by men, and this wage gap can make it more challenging to accumulate wealth. 

Despite this, women still have high potential to build lasting financial legacies. With the right strategies, such as investing, utilizing life insurance, and engaging in estate planning, women can create wealth for future generations, regardless of when they begin.

This article explores practical steps that women can take to start building generational wealth, according to financial experts.  

“Educating yourself about the stock market can make you more comfortable beginning your investing journey,” said Ronya Corey, a wealth management advisor. Understanding the stock market and adopting long-term strategies can empower women to make informed financial decisions. 

Building a relationship with a wealth advisor offers guidance and reassurance, especially when navigating market fluctuations or uncertain progress. This additional knowledge from a financial expert may reduce anxiety and help align investments with long-term financial goals.

“Women have to preserve their economic legacy with whole life insurance, trust, and estate planning,” said Fei Chen, Founder & CEO of Intellectia AI. “They can utilize them in order to leave wealth for beneficiaries or children without paying substantial lawyers’ fees and taxes.”

While there are different forms of life insurance, whole life insurance builds cash value over time, offering a means to fund retirement or pass on as an inheritance. Trusts and estate planning ensure that wealth is transferred efficiently, protecting a family from legal complications and preserving the financial legacy.

“No matter where you are, start allocating at least 20% of your income toward wealth-building. Even $100 a month compounds into six figures over time,” said Ketti Rose, CEO and Founder of Wealthy Femme.

This can be achieved by investing in index funds, real estate, or cash-flowing assets. Allocating 20% of an income toward savings or investments, whether in stocks, real estate, or retirement accounts, ensures steady wealth growth. Small, consistent contributions can compound over time, creating significant financial security. This principle encourages discipline and prioritizes long-term financial success.

“When I started my journey toward building wealth, I wasn’t entirely sure where to focus,” said Carrie Colbert, Founding and General Partner of Curate Capital. “I had to figure out what truly lit me up, and that’s how I found my passion for empowering others through financial literacy and investments.”

Finding a niche that resonates personally, whether through investing, entrepreneurship, or financial education, helps sustain the wealth-building journey. By focusing on what excites, women will  be more motivated to stay committed and achieve financial goals no matter the stage in their life.

“One of the ways of filling the wealth gap is ensuring that women are informed about investment, negotiation, and financial independence principles,” Fei said.

Learning about how investments, such as stocks, real estate, or retirement accounts, allows women to make informed decisions and grow their wealth. 

In addition, strong negotiation skills are vital for securing fair compensation, whether in salaries, promotions, or business deals.