June 25, 2026

We understand that many women are balancing multiple priorities at once — caring for family, building a career, and adapting to different stages of life. These realities shape financial decisions and goals in unique and deeply personal ways.

At the same time, women are playing an increasingly significant role in wealth creation and management. In the United States and Europe, women control a growing share of investable assets — and their wealth has expanded faster than overall financial wealth in recent years.¹ In Canada, women's wealth is projected to grow from $2.2 trillion in 2025 to $4 trillion by 2028.²

Recognizing the distinct challenges and opportunities women face is an important part of effective wealth management. This is the first in a four-part series focusing on helping women navigate career, caregiving and marital transitions with confidence.

Caregiving interruptions

Caregiving responsibilities can shape career paths in meaningful ways, particularly for women who are the primary caregivers for children, aging parents, a spouse, or multiple generations at once. Periods of stepping away from paid employment or reducing work hours to meet caregiving needs remain an important factor influencing career progression and lifetime earnings.³

Caregiving journeys are rarely defined by a single career interruption. More often, women navigate a series of adjustments throughout their working lives, including temporary workforce exits, transitions from full-time to part-time employment, or decisions to forgo travel-intensive assignments or promotional opportunities in favour of greater flexibility. At the same time, the financial impact of caregiving may accumulate over time; such interruptions are associated with slower earnings growth and career progression, and Canadian research indicates that it can also affect income and the ability to save for the future.⁴

Our Wealth Advisors can help you craft an approach that is not a setback, but a planned transition — one that recognizes that you are not only redeploying financial capital but also reprioritizing your time and your intellectual and emotional resources. Consider how long you anticipate the disruption to last and what a re-entry or pivot could look like, as well as what kind of income bridge you can create (through investments and other assets) and how this could impact your retirement trajectory. Having a plan that is structured to help you step back with confidence, maintain flexibility, and support long-term wealth creation is essential for your peace of mind.

Candice Jay, CC&L Private Capital Wealth Advisor, has worked with many women navigating caregiving responsibilities over months or years, balancing career and the emotional burden of a loved one’s well-being. Candice says, “One of the most fulfilling parts of working with clients is ensuring that they are cared for as they care for their loved ones. Caregiving should be treated as a significant financial planning event, not simply a family obligation. Consider all options before making work or care decisions; weigh paying for support and sharing costs with family members against reducing hours, taking leave or exiting the workforce. This will help you come to the right decision for your family, even if it involves trade-offs.”

Career changes and entrepreneurship

If you’re considering a career change in your 40s or beyond, you’re not alone. Many people in midlife find themselves drawn to new opportunities that better reflect their purpose and personal values, and research suggests that career changes become increasingly common during this stage of life.⁵ Whether you’re planning on studying or starting a business, reallocating your time and financial resources during your high-income years has long-term implications that require careful management.

To plan effectively, consider a possible transition in your income stream, capital pool, and retirement path. In terms of income, look at your cash flow and consider whether you have sufficient savings or severance, or part-time or consulting work, to support the transition. Taxable investments, a line of credit, RRSP withdrawals (under Canada’s Lifelong Learning Plan), or business financing can all serve as a capital pool, but each option has distinct tax, liquidity, risk, and long-term growth implications to weigh. Often overlooked considerations include lost employer benefits, insurance coverage, pension matching, and tax timing.

Importantly, this is not simply a question of funding your new enterprise, but how to do so without compromising your long-term flexibility and investment growth. A wealth management plan that supports both near-term confidence and long-term financial stability should prioritize flexibility, family security, and the ability to make meaningful choices without being forced into reactive decisions.

Angela Huck, CC&L Private Capital Wealth Advisor says, “Midway through their careers, many women begin to intentionally redefine their path — seeking opportunities that more fully reflect who they are and what matters most. Supporting them at these pivotal moments is deeply meaningful. It’s an opportunity to bring clarity to important decisions, thoughtfully assess the financial implications, and evolve their plans to reflect a new and more aligned direction."

"When that understanding is in place, when the financial picture is clear, confidence follows, and the rest often begins to fall into place. At the heart of this process is a well-crafted, forward-looking plan — one that aligns both career and financial aspirations — empowering them to move ahead with renewed clarity, confidence, and purpose.” 

Divorce and widowhood

Major life transitions — such as the loss of a spouse or partner, or the breakdown of a marriage — bring emotional and financial decisions into sharp focus at the same time. These moments introduce new responsibilities, uncertainty, and complex choices that require careful planning, when emotional capacity is lowest.

For families with significant wealth, navigating these transitions often involves more than investment decisions alone. Legal, tax, estate, and wealth planning considerations become increasingly interconnected, particularly when a key decision-maker or primary income earner is no longer able to play the role they once did. Having an integrated wealth management approach can help families maintain clarity, preserve flexibility, and make informed decisions during periods of significant change.

It is wise not to make any “big” moves early on; separate urgent decisions from irreversible ones. Prioritize a 90-day stabilization plan, followed by a longer-term wealth plan once the legal, tax, and estate picture is clearer. Start by securing cash flow and access to key accounts, then review estate documents, expenses, insurance, assets and liabilities, and tax obligations — before making any far-reaching decisions.

JoAnne Mulligan, CC&L Private Capital Wealth Advisor, says, “When someone loses their spouse, being there to help and support is one of the most important roles for a Wealth Advisor. Ultimately, our relationships are everything. On the practical side, alleviating the complexity and burden of coordinating legal, tax, estate, and insurance professionals, and creating a wealth management plan that reflects a client’s new circumstances, is key. To be able to give someone who is dealing with loss a renewed sense of confidence, control, and long-term stability is immensely rewarding.”