The SHEconomy
Written By: Allison Schmidt, Financial Advisor, CFP®, CPA
I saw an acronym this morning that I hadn’t seen before, the “SHEconomy”. I was raised by and am
surrounded by successful, empathic, wonderful women. I have 3 little emerging ones in my house and am lucky enough to be married to one…I was intrigued.
The SHEconomy refers to the growing and significant impact of women on the economy, both as
consumers and as participants in the workforce. This concept highlights the economic contributions of
women, recognizing their influence in driving market trends, innovation, and economic growth.
Reading through and reflecting on the specific impacts of the SHEconomy, I thought these 3 were
particularly interesting…
•Consumer Spending Power: Women control a significant portion of consumer
spending. In many households, women are the primary decision-makers when it comes to
purchasing decisions, influencing sectors such as retail, healthcare, and education.
•Labor Force Participation: The SHEconomy also emphasizes the importance of
women’s participation in the labor force. Women are not only entering the workforce in
increasing numbers but are responsible for substantial contributions across all sectors,
including areas traditionally dominated by men. This shift not only contributes to
economic growth but also promotes gender equality in the workplace. It makes me think
of the change that has been taking place in the rooms at the conferences I go to. When I
started it was common to be one of a handful of women in the room, now 15 years later
we take up almost 20% of that room. With the change in client makeup and the flat-out
demand for more female financial advisors, I’m hopeful and confident the trend will
continue. This industry, like so many, needs more strong, intelligent, compassionate
women.
•Entrepreneurship and Leadership: Women are increasingly taking on roles as
entrepreneurs and business leaders, starting and growing their own businesses. The rise of
female entrepreneurs contributes to innovation, job creation, and economic
diversification. Additionally, companies with women in leadership positions often
demonstrate better performance and governance, highlighting the positive impact of
gender diversity in decision-making roles.
The SHEconomy underscores the need for policies and business strategies that support women’s
economic empowerment and recognize their role in shaping the global economy. I’m onboard. I
am so grateful for the opportunity to work with amazing women both at the office with Molly
and Alexis and our wonderful clients. We have found ourselves as a go-to for many deeply
respected, high power, successful women who helped build and continue to push forward the
SHEconomy. We are consistently grateful for the opportunity to work with these women.
Happy Women’s History Month.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Higgins & Schmidt Wealth Strategies, a registered investment advisor and separate entity from LPL Financial.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification and asset allocation does not ensure a profit or protect against a loss. Stock investing involves risk including loss of principal.
Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price. Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or pro-tect against a loss.
