Skip nav to main content.
Pearl Hawaii Credit Union
Android GET - On the App Store
Pearl Hawaii Credit Union
Apple GET - On the App Store

The Quest For Financial Independence


Women face more financial roadblocks, and strive harder to overcome them.


Throughout history, the barriers to financial independence for women have been especially tough—if not impossible. For example, it was technically legal for banks to refuse credit and loans to unmarried women—and to require married women to get their husband’s permission for credit and loans—until 1974, when the Equal Credit Opportunity Act was passed.

Fortunately, things are improving. But there are still obstacles to overcome—including the struggle for equality in finances. For example, the latest earnings comparisons available from the U.S. Bureau of Labor Statistics reveal that full-time female workers earn only 82 percent of what their male counterparts earn.1

Other obstacles to financial independence for women include:

Motherhood. Women are more likely than men to take time away from work or reduce their work hours because of caregiving responsibilities The American Association of University Women (AAUW) contends that this creates “the Motherhood Penalty,” causing mothers to make “only 58 cents for every dollar paid to fathers.”2

Financial literacy. Men are twice as likely to take courses that lead to careers in finance.

Life expectancy. According to the U.S. Centers for Disease Control, the average lifespan for an American male is 76, while the average woman in America will live to be 81.

How women define financial independence

Bank of America surveyed more than 3,500 women ages 22 and older about their thoughts on financial independence. The top three indicators of financial independence, based on that survey, included:

Being debt-free: Paying down debt provides more financial flexibility.

Having an emergency fund: Being able to access savings when you’re in dire need provides peace of mind.

The ability to support yourself without any financial help: Inflation, stagnating wages, and debt can make it tough to keep up with everyday expenses. It’s important to cut back on spending, rather than asking family members or friends to help out.

Nevertheless, she persisted

Despite the obstacles women have faced—or maybe because of them—the number of women investors is growing rapidly, and doing well! Based on a 2021 study by Fidelity, 67 percent of women are now investing outside of their retirement accounts, compared to 44 percent in 2019. To top it off, Fidelity’s analysis of more than 5 million customers showed that women outperformed men by an average of 40 basis points annually—or 0.4 percent—over the past ten years.3

In its article about women and investing,
Bankrate said that women hold incredible potential, and shared the following predictions:

• By 2030, women in America are expected to control much of the $30 trillion in financial assets that baby boomers possess today.

• A 2021 study by BNY Mellon showed there would be an extra $3.22 trillion of assets under management from private individuals if women invested at the same rate as men.

• The same BNY Mellon study also found that women are more likely to make investments that have positive impacts on society and the environment. This would tack on an extra $1.87 trillion of additional inflows into socially responsible investments if women invested at the same rate as men.

• The number of female investors is surging. A 2022 global survey from social trading and investment company eToro found that of the 9,500 female investors surveyed, 48 percent of them were new to markets over the past two years.

Based on these predictions, women and their quest for financial independence could be one of the best investments we make!




With Pearl Hawaii Wealth Advisors, you are guided by a financial advisor with many years of experience. Get guidance to seek the most out of your assets, big or small. Want to save for a dream home? Plan for retirement? Start a nest egg for your child’s future? The possibilities are endless.


When you open an account with Pearl Hawaii Wealth Advisors, you have the ability to manage multiple types of investments. Additionally, you can access your account anywhere and anytime. Partner with a financial professional to understand your unique financial situation. To get started down a path to financial freedom, make an appointment.


Call Chris Kaminaka at 808.218.6268



Chris Kaminaka
Financial Advisor
Pearl Hawaii Wealth Advisors
Located at: Pearl Hawaii Federal Credit Union
94-449 Ukee Street, Waipahu, Hawaii 96797
Phone 808.218.6268 | Email

Check the background of this investment professional on FINRA BrokerCheck.



  • Financial Management
  • Personal Financial Assessments
  • Financial Planning
  • Retirement Planning
  • Insurance Planning
  • Education Planning
  • Investments
  • Wealth Management
  • Education Funding
  • Retirement Income Planning
  • Retirement Services
  • Life Insurance
  • Long-Term Care Insurance
  • Disability Insurance
  • IRA Rollover
  • TSP Transition Assistance
  • Mutual Funds
  • IRAs
  • Annuities
  • Stocks & Bonds
  • Managed Accounts


Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.

As a LPL Financial Advisor, Chris is qualified to provide credit union members with professional assistance, quality financial products, and dependable service. Chris is a Registered Representative of LPL Financial and also a licensed insurance agent. It’s easy to get started. Please contact Chris for a no-cost, no-obligation consultation.

*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Pearl Hawaii Federal Credit Union and Pearl Hawaii Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Pearl Hawaii Wealth Advisors and may also be employees of Pearl Hawaii Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Pearl Hawaii Federal Credit Union or Pearl Hawaii Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:


*This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

This material was prepared by LPL Financial.


Tracking: 1-05364643 Exp. 3/24