The Success of The One-Woman Show

by Lindsay Guido

Old Hollywood’s glamorous leading ladies charmed the world with their class and sophistication, both on and off screen, and continue to provide women inspiration for living well and aging gracefully.

Ginger Rogers in Top Hat

Though romance certainly played a part in their stories, these iconic actresses often worked alone to develop their professional and financial successes, at times meeting or even exceeding that of their gentlemen costars. As they say, Ginger Rogers did everything the great Fred Astaire did, but backwards and in high heels. Their lived experiences are surprisingly similar to the majority of women in terms of financial self-reliance, particularly in their later years. Statistics show that 74% of modern women are not married at the end of their lives, and 90% of women manage their own money for a period in their lives.

Hedy Lamarr, 1940

Actress Hedy Lamarr (six marriages) and the incomparable Elizabeth Taylor (eight marriages) were both single when they died in 2011 and 2000, respectively. Just like these remarkable actresses, most of the world’s women will have to go it alone, for some time, at some point. So virtually all women can benefit from financial literacy, financial planning, and strategic investment.

Financial literacy is the ability to use knowledge and skills to manage resources effectively. It can be gained by engaging with financial newsletters, podcasts, books, and discussions with financial professionals. According to the U.S. Financial Literacy and Education Commission, everyone should know the five major principles:

• Earn: Make the most of your pay and benefits.

• Spend: Develop a budget and use money toward goals and things you truly value.

• Save & Invest: Become intentional about setting money aside for the future.

• Borrow: Understand credit and when to use it.

• Protect: Be prepared for potential emergencies and risks.

Historically, women were denied financial education and agency. Money management and decisions were deferred to the men in their lives or other third parties. Remarkably, October 2024 marked 50 years since women were able to open and manage their own credit cards. The financial services industry also played a role with messaging to women primarily focused on spending with little regard for the other principles outlined above. The legacy of these practices leads some women to underestimate their financial management abilities. Some also misunderstand investment as something dangerous or akin to gambling, preferring to simply save money in low-return savings accounts or other similarly low-risk vehicles. This results in missed growth opportunities.

Nowadays women are encouraged to think of themselves as capable investors, rather than just savers. Because we are so adept at running households and businesses, it should be no surprise that women tend to be better investors than men thanks to their inclination to risk aversion, emotional control, and a commitment to remaining informed. As a result, women’s fortunes are growing for use in retirement, children’s education, starting businesses, and other personal goals.

Women in relationships would be well advised to remember that money is a top source of household conflict and numerous studies suggest that couples are happier when they work together on money management. It’s also important for women to have their own resources for reliable financial advice (other than a husband or his financial advisor) because, statistically, married women are likely to outlive their partners. Mastery and control of personal finance equates to autonomy and security in cases of hardship or old age or the power to leave an unhappy or abusive relationship.

At its best, wealth means having the opportunity to be prepared for everything. Conifer Bay Capital’s focus is on advisory services for wealthy families and assisting women in all phases of their lives. We serve as a resource and champion for women seeking to build confidence and personal wealth through education and engagement and believe that becoming financially literate is a worthy goal at any age.

For young women, it’s all about learning to save for the future, maximizing employer retirement plans, and building investing skills early to build wealth and long-term outcomes. Later, as midlife and family roles emerge, budgets, home ownership, and possibly sharing finances with a partner take center stage. Finally, as retirement approaches, it’s time for strategizing about social income programs, health care, and accumulated assets, equipped with a lifetime of accumulated wisdom to navigate difficult situations like divorce or the loss of a spouse.

Whether you’re single, married, divorced, or widowed, it’s never too early or too late to invest in your financial literacy so you can manage your money armed with confidence and conviction. Women’s lives are long, complex, and beautiful. They often involve playing roles that were never anticipated. The lessons from our favorite movie heroines of the past are clear: Regardless of where life takes us, a woman with a sound financial foundation can choose her own next performance.

Originally released September 30, 2021. Revised November 26, 2024,