Finances can be a common New Year’s resolution for millions of Americans. Some choose to focus on getting out of debt or putting money aside for a vacation. This year why not focus on managing your wealth.

“Investing isn’t just a man’s game,” said LeeAnn Leonard, CRPC, vice president/investments, branch manager with Stifel. “As the financial industry begins to shift, studies have begun to show that women think differently about wealth than men and should consider starting as soon as possible.”

Women adjust their careers for family more than men. In a 2013 survey, 42% of mothers with some work experience reported that they had reduced their work hours to care for children and or elderly parents, according to the Pew Research Center. Women also are more likely to work part time. And when they do work, they continue to earn less than men, according to a 2019 report by Payscale. Women earn roughly 79 cents for every dollar a man earns.

“Put simply, investing is a way to increase the amount of money you have by putting it into specific products offered through financial institutions,” Leonard said.

Those products can include cash management accounts, money market accounts, stocks, bonds and mutual funds.

Licensed financial advisers are professionals help individuals manage and mitigate risk to their investment plans. This can include recommendations, implementing strategies and entering trades. Wealth planning, however, takes it a step further.

Leonard said this step addresses all areas of an investor’s financial life, including budgeting, retirement, estate planning issues, wealth transfers and more.

“If you are just getting started in the world of investing, you may feel overwhelmed and unprepared for your financial future,” Leonard said. “You can start by talking to a financial adviser about the products and services they offer that may help you make important decisions regarding your money. Professional financial advisers can provide you with objective guidance and adjust your plan throughout your lifetime.”

Women live longer than men, according to the National Center for Health Statistics. The average American women will live to 81 years old, while the average American man will live to 76 years old.