299 | Why Even High-Earning Women Still Feel Financial Anxiety

[00:00:00] Hilary Hendershott: Fifty-eight percent of women worry about their finances at least several times a month. And even among women earning over $200,000 annually, nearly half say they’re concerned about their finances.

[00:00:12] Hi, I’m Hilary Hendershott. I’m the founder of Hendershott Wealth Management. On this channel, we publish content to help you strengthen your financial life, grow your net worth, and feel supported through the moments that matter. If that’s the kind of guidance you might enjoy having in your life, please take a minute to like this video and subscribe.

[00:00:32] Today, I want to talk about something I see all the time: why even high-earning women still feel financial anxiety. So, the thing is, you can be secure and still not feel secure. If you’re successful on paper, earning well, saving consistently, investing thoughtfully, and yet you still feel a low hum of distracting and unsettling financial stress, I want you to know something right away. It makes sense.

[00:01:00] You can be objectively secure and still not feel secure, and that disconnect can be frustrating. In my work with high-earning women, especially women in tech, leadership, and entrepreneurial roles, this comes up constantly. You took up space. You worked hard. You asked for raises. You lived beneath your means. You delayed gratification. You invested thoughtfully. You bought real estate. You did all the right things, and yet you still worry if it wasn’t enough.

[00:01:36] You worry about running out. You feel you have to hesitate before large financial decisions, and that lack of freedom after all you’ve done breaks your heart a little bit. You still feel like one mistake, one market cycle, one bad investment could unravel everything. This isn’t rare.

[00:01:59] According to research from HerMoney and the Alliance for Lifetime Income, 58% of women worry about their finances at least several times a month. And even among women earning over $200,000 annually, nearly half say they’re concerned about their finances.

[00:02:16] Many of my multimillionaire female clients struggle with the idea that lifestyle-forward choices means a trade-off between making memories today and being financially responsible. So, if you thought earning more would eliminate anxiety, you’re not alone in being surprised that it didn’t.

[00:02:36] Here’s what I’ve learned. This usually isn’t about the number. It’s about being on your own two feet without a safety net. It’s about accepting that no one is coming to save you, and still being friends with the woman you become when you decide to save yourself. It’s about understanding that prioritizing longevity means more life, but also more bills. It’s about the uncertainty of living in potentially unprecedented times.

[00:03:06] Many women carry a deep, often unspoken fear of what if I outlive my money? What if my investments underperform? What if I become responsible for aging parents? What if I step away from my career and I can’t recover financially? What if I stop worrying for a damned minute and I look up and it’s all gone?

[00:03:31] I’ve had intimate conversations with thousands of women about their financial lives, and there really is a persistent fear of ending up destitute, even among wealthy women. And here’s the paradox. Women are wealthier than ever, generating our own income, taking our places at the table, pulling each other up, building businesses, and participating in what many call the great wealth transfer, yet the fear of losing it all or still having it not work out remains.

[00:04:01] And there’s a rational basis for some of this fear. On average, women live longer. Women are likely to take career breaks. Women often earn less over a lifetime. Even if those factors haven’t applied directly to you, they live in the cultural background.

[00:04:17] So, the real question underneath the anxiety isn’t, “Do I have enough?” It’s, “Will I ever be truly safe?” Here’s the reframe I want to offer. Financial anxiety doesn’t automatically mean financial instability. Sometimes it means you’re carrying more responsibility.

[00:04:37] In a 2025 Mutual of Omaha survey, 87% of women said they feel responsible for their family’s financial security, but only 21% said they feel confident about their financial future. And that gap is really striking. High responsibility, lower confidence.

[00:04:55] And responsibility often increases as income increases. You’re not anxious because you’re incapable. You may be anxious because you understand the stakes.

[00:05:06] There are usually three forces happening at once for high-earning women. One is longevity risk. We all want to live longer, as long as we’re thriving. And the data tells us that women actually tend to outlive our male counterparts, which means assets need to last longer.

[00:05:25] Two is career complexity. InvestmentNews noted that career breaks generally taken to care for children or loved ones can create gaps in income, retirement savings, and Social Security accumulation.

[00:05:40] And three is cultural and gender-based conditioning. There’s so much here. Many of the women paying the bills today were never raised to see themselves in the breadwinner role. We were not given the emotional tools to navigate that. And whether we like it or not, there are still parts of society that question women as primary earners.

[00:06:01] The gender roles you absorbed early in life may still be shaping how this feels for you now. The truth is, no matter how professional, austere, or analytical your image, there are probably big forces from the past still shaping your financial experience. So, when markets fluctuate or when you consider a major decision, your nervous system may react before your balance sheet does.

[00:06:26] But here’s the important distinction. Anxiety is not analysis. Anxiety is often uncertainty without structure. When there’s a clear, adaptable plan, not just a portfolio, but an integrated strategy, anxiety has the opportunity to soften.

[00:06:45] We also know from broader research that women report lower financial confidence even when actual knowledge gaps are small. The Standard’s 2025 research found that women consistently report lower confidence in financial knowledge compared to men, even though many actively seek financial education.

[00:07:06] That tells us something important. Confidence isn’t always tied directly to competence, which means the solution isn’t simply to earn more or to invest more aggressively. It’s learning to trust your own judgment, and it’s having the right people around you, people who reinforce that confidence and help you make thoughtful decisions about your money over time.

[00:07:30] Knowing your plan accounts for downturns, for changing political regimes, for taxes, for longevity, for inflation and cost of living increases, for consistent income for you and your loved ones across decades, and for family obligations. When those pieces are intentionally coordinated, the emotional temperature changes.

[00:07:52] If you’re a high-earning woman and you still feel financial anxiety, I want you to hear this clearly. You’re not irrational. You’re probably not behind. You’re not uniquely flawed. You’re navigating a financial landscape that asks more of women than it ever has.

[00:08:07] The goal is not to eliminate all uncertainty. The goal is to build enough clarity that uncertainty becomes manageable. When your financial life is structured intentionally with long-term tax awareness, risk alignment, and income planning, anxiety often shifts from constant background noise to something you can hold calmly, and that’s a really different way to live with wealth.

[00:08:34] If this resonates, you’re in the right place because the goal isn’t just to grow your net worth, it’s to feel steady holding it. That shift from pressure to clarity is the work I care most about.