Three years ago I had the pleasure of meeting award-winning journalist Tina Brown. An incredibly accomplished woman and past editor in chief of Vanity Fair, she founded The Women in The World Summits that brought together other incredibly strong, powerful, and independent women.

Whenever I tell people what I do for a living they seem compelled to confess their “financial sins”. Her very first comment to me was how much she regretted not teaching her 28-year-old daughter anything about managing money.

I was surprised, given that she was who she was, and one who had surrounded herself with women, who I’m certain some of whom were very much in control of their own finances. But I told her not to beat herself up as, sadly, her situation wasn’t unique.

When I started advising clients in 1984, it was the norm that women would leave all the management of the family investments to the husband, even if they both worked full-time.

Fast forward 37 years, and despite women today being more educated, accomplished, and empowered than ever before, we haven’t “come a long way, baby”, as most still aren’t fully in control of their lives.

In some ways, it feels like we’re stuck in the 1950s. A recently released survey from a major financial institution revealed that when it comes to married women investing and managing their money, over half leave investment and financial planning decisions to their husbands.

And the reason why? Most say their spouses know more than they do. I can attest that is not always the case. It’s my experience that it’s more an unfounded lack of confidence on the part of the wife and less that they are married to financial geniuses.

The perpetuation of men controlling investment decisions doesn’t look like it’s going to change anytime soon as 8 out of 10 women surveyed said they were content with the current distribution of financial responsibilities in their marriages.

Let me share my most recent experience that proves this may not be a wise decision. A woman came to see me for guidance after her husband of 40 years told her he wanted a divorce. She had a career for the first half of the marriage, but when she stopped working 20 years ago, she left all financial decisions to her husband – from paying the monthly bills to managing their investments. She had no idea of what they had, what their monthly expenses were, or what they might owe. And she was terrified.

How can women continue to allow themselves to be so vulnerable? It is far from ideal when your life is in chaos to start at ground zero to learn about money.

It’s not just women from the Boomer Generation. The research shows that more than any other generation, millennial women also leave financial decisions to their husbands.

What’s worse, the report found that 69% of fathers and 52% of mothers with children under 21 said they were fine with their daughters’ future spouses handling the long-term financial planning. The findings get even more depressing as 43% of female breadwinners said they also leave financial decisions to their husbands.

I understand gender roles are hard to shake off. I know that one can only do so much and it’s hard when working women are spending two hours or more each day cleaning, cooking, and taking care of children than their husbands do.

But let’s look at the hard facts. Women live longer than men and 80% of us are going to end up alone – whether because of longer life expectancies or divorce. I know from my experience with widows and recent divorcees that once on their own almost all of these women who did not take an active role in their finances regretted it.

This is my clarion call to action. It’s never too late to exercise your financial muscle. Money is power and freedom.

Not sure where to start? Look around for someone you know who is already taking charge. It could be a trusted friend or a family member. Ask them for guidance. If they are working with a financial professional ask to be introduced. Actually, meet with more than one because you need to feel comfortable and trust whoever you decide to work with.

If you are faced with divorce immediately get yourself a lawyer. Don’t sign a thing that your husband might ask you to. And do not move out of your home. If you aren’t a primary cardholder of a credit card get to the bank and organize getting your own.

And if you are already engaged with your money share this article with those you know who are not.

Women need to be involved. They need to be joining their spouse in those meetings with the advisor. They need to be involved in the long-term planning of how they’re going to live their life. Women have to participate. We cannot afford to be financially indifferent.