Becoming suddenly single can set your world in a tailspin, and a lack of financial planning is setting women in particular even further back.
Death or divorce rank among the top five financial challenges female clients face, according to a report by Key Private Bank. Estate planning, investment decisions and legacy planning were the other top hurdles, the report said.
Though traditional gender roles are changing, financial advisors say, many couples still adhere to them, with men generally taking the lead on finances.
However, the average age of widowhood is 59, according to the U.S. Census Bureau, with many women living another decade or more beyond a husband's death.
"Many women play a passive role when it comes to money and investing," said Rorrie Gregorio, the national partner in charge of the family office group at Marcum LLP. "They do not discuss money or investing, not with friends or co-workers and not even with their spouse."
Only 3 percent of married female clients drive wealth conversations, according to Key Private Bank's advisor poll.