The Women's Room
We're all the same and yet we're also different.
I recently re-read a book by Deborah Tannen [click for details] that reminded me of one of the first pieces of advice I received when I began working: Don't Assume. So I thought I'd create a page with access to women focused content, in the hope that it might provoke questions and discussion.
As a financial advisor, I see firsthand the unique challenges women face when navigating their financial journeys. From the early career juggling act to planning for a longer retirement, the path can feel uphill. The gender pay gap, career breaks, and societal pressures all contribute to this complexity. But let's empower ourselves with knowledge! Armed with knowledge, we can overcome these hurdles and pave the way to financial freedom, step by empowered step.
THE PAY GAP IS REAL:
Have you ever heard of "pink tax"? Women working full time, year round earn 83.7% of what men are paid according to the US Department of Labor. This translates to less money to save and invest, putting Women behind from the start.
JUGGLING LIFE'S DEMANDS:
Taking time out for childcare or family care is more common for women, creating gaps in employment and impacting retirement savings. A study by the Pew Research Center found that 70% of mothers have interrupted their careers due to family responsibilities.
LIVING LONGER, NEEDING MORE:
Women tend to live longer than men, which means their retirement savings need to stretch further. Here are some key steps to help improve your financial wellness and make the most out of your retirement years.
THE BURDEN OF STUDENT LOANS:
Women hold two-thirds of all outstanding student loan debt, according to the Brookings Institution. This debt can significantly impact their ability to save for other financial goals like a down payment on a house or starting a business.