What Taylor Swift Can Teach You About Financial Power and Ownership

When it comes to building wealth and securing lasting legacies, women today face a unique—and often changing—financial landscape. From the boardroom to the home office, more women than ever are driving business, shaping industries, and taking charge of their financial futures. But along with these opportunities come challenges: navigating ownership of assets, balancing career growth with personal milestones, and making sound decisions through life’s biggest transitions.

Inspired by trailblazers like Taylor Swift, who boldly took control of her creative assets, we spoke with Laura Combs, Executive Managing Director at Mercer Advisors, about what it truly means for women to own their worth, both financially and personally. Laura offers practical guidance on protecting your intellectual property, strategies to avoid common financial pitfalls, and advice on building a secure financial foundation amid career leaps, family changes, and entrepreneurial ventures.

Whether you’re scaling your business, preparing for legacy planning, or simply aiming to align your investments with your values, you’ll discover empowering takeaways for every stage of your professional and personal journey.

Taylor Swift’s reacquisition of her masters highlights the importance of ownership. How can women ensure they maintain control of their assets and intellectual property throughout their careers?

Laura Combs: Taylor Swift’s reacquisition of her masters is such an empowering example of someone realizing the value they create, owning their career ambition, and then planning and executing a financially savvy strategy to capitalize on that.

Most of us are in a very different financial stratosphere than Taylor Swift, but there’s a lesson here for everyone about entering your financial empowerment era, realizing the value you create, being proud of your career, and having a financial plan.

Like Taylor Swift said, ladies always rise above, so let’s take ownership of our worth and protect it.

With women CEOs now representing 11% of Fortune 500 companies, what unique financial planning challenges do high-achieving women face compared to their male counterparts?  

Laura Combs: Taylor Swift and CEOs are examples of the pinnacle, but across society, we’re seeing women controlling more financial assets than ever before. Women face distinct challenges like potential gaps in consistent income or career trajectory around having children or caring for aging parents. Other challenges include longer lifespans and life events like divorce or widowhood. 

In my view, women are increasingly taking ownership of their money and relationship with their financial advisor when a spouse or partner is involved. But, it’s still too common that we hear “financial advisors only talk to the husband.”

As the money balance continues to shift, all advisors should take note. With my clients, I always make a point to directly engage both individuals. 

Can you explain the concept of “financial fragmentation” and why it’s particularly problematic for professional women?

Laura Combs: Financial fragmentation refers to a common situation where finances gradually become complicated and are not viewed or managed together. There are different accounts, such as 401(k)s from different employers, IRAs, 529s, real estate, and employee stock plans. 

This can really sneak up on you. Early in your career, you think of your finances as simple, but 15 years later, you stop and think about it and realize you have 8 or 10 different accounts and don’t know which account to save in or which account to withdraw from. This is when big mistakes can occur. Your different assets have different tax implications, for example, and you can lose a lot of money without a comprehensive strategy.

In fact, I experienced this in my own life. Before I knew it, I had gone through multiple promotions, purchased properties, and welcomed multiple kids into my family. Hiring an advisor to help my husband and me keep it all straight was so beneficial. 

How can women balance aggressive career growth with sound financial planning, especially during their peak earning years between 30 and 45?  

Laura Combs: Women in their peak earning years have a unique opportunity to accelerate both career growth and financial independence. As Taylor Swift said, it’s important to “get smarter in the nick of time,” but being smart early is even better.

A strong financial plan should support your career ambitions, not compete with them. That means understanding your benefits, maximizing retirement contributions, taking advantage of tax-efficient tools like HSAs and 529s, and investing early to let compound growth do its work. This is also the time to build a clear, comprehensive view of your finances so you can make confident decisions and avoid fragmentation later.

The goal is freedom, which might mean to grow, pivot, or pause, but it’ll be on your own terms.

Many professional women are either delaying or choosing not to have children. How should this impact their long-term financial planning strategies? 

Laura Combs: This is, of course, a deeply personal decision, and you’ll find the perfect time for you. My view is that you don’t have to delay starting a family to be financially successful. For example, I had my first child at 27 while still building my career. Many companies today are far more flexible, offering remote work, flexible hours, generous parental leave, and a culture that supports both women and men in integrating work and family life. 

Still, many women may want to take a career pause to maximize their time with children in the early years. The most important thing financial advisors can do is help you understand your choices within the context of your financial plan, including different scenarios: What would a career change look like? What if you took time off to raise children? What does saving for college entail? No one can or should make these decisions for you, but financial planning equips you with the clarity and confidence to explore your options.

For women entrepreneurs, what are the key financial considerations when scaling a business while maintaining personal financial security?

Laura Combs: For women entrepreneurs, scaling a business often involves significant financial risk, making it essential to protect personal financial security throughout the process. Before committing resources, it’s important to understand your full financial picture. This includes your assets, liabilities, liquidity, and tax obligations.

For instance, if you own a home, have a retirement account, or hold investments in a brokerage account, you should know the financing options tied to each, and the potential penalties or fees involved. Equally important is maintaining a clear separation between personal and business finances. This not only protects your personal assets but also ensures accurate financial tracking and prepares your business for future growth or investment.

Planning for the unexpected through emergency funds, insurance, and long-term financial strategies adds another layer of security. Ultimately, scaling successfully means balancing ambition with financial clarity and resilience.

How can women protect their financial interests during major life transitions such as marriage, divorce, or career changes?

Laura Combs: One of the most important aspects of financial planning is preparing for change. Life rarely follows a straight path. Marriage, divorce, career shifts, and other transitions can significantly impact your financial landscape. One thing that you can count on is the unexpected. Many people think of a financial plan as a one-time task, but in reality, it should be a living document that evolves with your life.

During these pivotal moments, it’s especially important to work with a fiduciary financial advisor, someone legally obligated to act in your best interest. These transitions often involve “money in motion,” such as merging or dividing assets, changing income streams, or adjusting long-term goals. Having a trusted advisor ensures that your financial decisions are aligned with both your current needs and your future security.

Ultimately, protecting your financial interests means staying proactive, flexible, and informed so that you’re ready to adapt as life unfolds.

What are the most common financial planning mistakes you see successful women make, and how can they avoid them?

Laura Combs: One of the most common financial planning pitfalls we see among successful women is holding a large, concentrated position in a single asset. This might be a business they’ve built, company stock earned through years of hard work, or a valuable piece of real estate. These assets often represent the foundation of their financial success. But without a thoughtful exit strategy, they can become a liability.

The challenge arises when it’s time to convert that asset into long-term financial security. Many of these holdings carry significant unrealized capital gains, and selling them outright can trigger a substantial tax bill. Fortunately, there are strategies to transition from a concentrated position to a diversified portfolio in a tax-efficient way, but these strategies are most effective when planned early.

The key is to treat the monetization of your success with the same care and intention you used to build it, and start early. Working with a fiduciary advisor can help ensure your next financial move is as smart as the one that got you here.

How can women effectively combine their professional success with estate planning to create lasting legacies?

Laura Combs: For women who’ve built successful careers or businesses, estate planning offers a powerful opportunity to extend that impact beyond their lifetime. Legacy isn’t just about transferring wealth. It’s about passing on values, vision, and purpose. Effective estate planning can include preparing for business succession, aligning legal structures with long-term goals, and empowering the next generation through education and intentional giving. Purpose-driven planning through philanthropy and working with trusted professionals like estate attorneys and financial advisors ensures their success translates into a meaningful, enduring legacy.

It’s also essential to revisit your estate plan during major life events like marriage, divorce, or remarriage. Keeping your plan current puts you in control of how your wealth is distributed, rather than leaving those decisions to the courts or the government. A thoughtful, purpose-driven estate plan transforms professional success into a meaningful, enduring legacy.

Looking ahead, what emerging financial trends or opportunities should professional women be aware of and potentially incorporate into their planning?

Laura Combs: One of the big changes underway right now in the financial services industry is that there are far more opportunities available for investing in private markets (private equity and private credit) than ever before. This is an area that’s new to a lot of investors because it’s developed so rapidly. Another important trend is values-based investing. Women often want their investments to align with their values. It’s more than just money to us, it’s about how we can use that money to support what matters most to us in life. 

Laura Combs is Executive Managing Director at Mercer Advisors, a national wealth management firm that provides comprehensive financial planning and investment management services.

Disclaimer: All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. The information provided is believed to be accurate but is not guaranteed or warranted by Mercer Advisors. This content is for informational purposes only and is not intended as personalized financial, investment, accounting, or tax advice.  All investing involves risk, including the possible loss of principal. Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. and is not involved with investment services.

Featured Image Graphic By: Lanang Banget