A recent study by the Artemis Strategy Group, titled the 2024 Life Priorities Assessment Study, reveals significant challenges facing American women under 60, highlighting how social and economic pressures uniquely impact their health, finances, and overall well-being.
This comprehensive study examined well-being across key areas like health, family, and financial security, showing that younger generations of women—those in Generations X, Y, and Z—face significant obstacles in achieving stability, particularly in financial, physical, and emotional health. Nearly two-thirds report financial difficulties, including struggles to access stable jobs, affordable healthcare, housing, food, and childcare. More than half also experienced physical or mental health challenges within the past year, creating a cycle where financial stress and health issues amplify each other, making personal goals harder to reach.
Anne Aldrich, partner at Artemis Strategy Group, shared:
“While we expected that gender equality measures from the 1960s and 1970s would benefit younger generations of women, our research shows persistent gaps, particularly for those in prime working and childbearing years."
In contrast, Baby Boomer women generally report better outcomes in financial and emotional health, similar to men in their age group. But for younger generations, financial strain remains a major factor impacting other areas of life, reinforcing a widening gender gap.
Financial Challenges Affecting Health and Relationships
Despite progress, the study found younger women under 60 struggle with financial control, with 44% feeling their finances are insecure. For many, financial stress bleeds into other areas: 59% report it impacts their mental health, 35% note its effect on relationships, and 32% see an effect on physical health.
Women who take on caregiving roles, especially those balancing care for children and aging parents, face additional hurdles. The study revealed:
60% of caregivers report financial setbacks due to caregiving.
50% feel caregiving has stalled their career growth.
Two-thirds report significant emotional or physical stress tied to caregiving duties.
Though challenging, caregiving provides many women with a sense of purpose, with two-thirds stating they would devote even more time to it if finances allowed.
Addressing a Complex Web of Challenges
The study suggests that increased savings, affordable childcare, and better financial education could help stabilise younger women’s finances. Aldrich points to the lingering impacts of the Great Recession, the COVID-19 pandemic, and recent restrictions on reproductive rights as key factors adding strain to women’s financial and personal lives, particularly for those in their childbearing years.
Comments