Fidelity highlights four trends in women's financial wellness for 2025

The financial landscape is slowing changing for American women and while engrained challenges such as the gender pay gap and wealth inequality continue, short-term finances are seen with optimism.

Newly released data linked to Fidelity Investments’ 2025 Financial Resolutions Study found that six in ten women believe they will be better off financially this year than last, with almost seven in ten having a plan to reach their financial goals, and eight in ten planning to boost emergency savings.

Most common financial goals for 2025 include saving more, reducing debt, and spending less.

But the firm has also revealed four key trends that it sees for women’s financial wellness this year which reveals how women continue to face significant issues with their finances, especially as they get older, often far beyond similar matters for men.

First, retirement. Half of the women who retired last year took did not simply retire but eased back on their work commitments gradually, perhaps by reducing responsibility or moving to more flexible working. Twenty years ago, just 19% of women had a phased retirement.

While aspects of this trend is also seen among men, women are far more likely than men to transition to retirement by reducing hours or days.

Around half of younger women (Gen Z/Millennials) are planning to increase their annual retirement savings contributions this year.

Healthcare is an issue where women are disproportionately affected, Fidelity’s research found. 

While women will spend, on average, $175K on health care and medical expenses during their retirement, this is 10% more than men. It has also increased by 17% in the last five years.

Despite health care costs, with rising deductibles, being the top concern of many women surveyed for the report, women are less likely than men to contribute to an HSA, although this is on the rise with retirement health care costs cited as a key reason.

Caregiving generally impacts women more than men, and those with these responsibilities report higher levels of financial stress and fear of unexpected expenses, inflation impact on their savings and cost of living, and economic uncertainty including concern about recession.

With women retirees more likely than men to stop working due to caring responsibilities, this puts additional pressure on these women’s finances, however, most intend to save more this year.

The report also highlights how employers can do more to help women’s financial wellness, such as providing better benefits but also addressing work/life balance and flexible working requirements.