Closing The Gender Income Gap: Investment Strategies For Women
When I became a financial advisor in 1993, college-educated women were earning 73 percent as much as their male colleagues. Today, the gender wage gap has improved somewhat, with 2016 data reflecting that women now earn 80 percent as much as men, according to the Institute for Women’s Policy Research. However, there are a number of other variables that affect the financial security and well-being of women and their families, where even less progress has been made over the past 25 years.
Monthly Labor Review (March 1998)
Institute for Women’s Policy Research: Gender Wage Gap 2017
National Vital Statistics Report, Volume 66, Number 4 (August 14, 2017)
Stateline “Growing Number of People Living Solo Can Pose Challenges (September 11, 2014)
Top 10 Things to Know and Do to Help Achieve Financial Independence
Investor behavior is a primary determinant of investment success, according to data from Dalbar, a Boston-based financial research firm. This organization studied investment results of mutual funds and mutual fund investors from 1994 through 2014. The report indicates that the average stock mutual fund produced a 9.59% annualized rate of return for this period, while the average stock mutual fund investor achieved only a 5.19% annualized rate of return¹. Poor investor behavior can stand in the way of solid investment results.
Retirement, Responsibility and Rewards
We are inundated with news about changes in our world and how those changes impact our lives. The aging baby boomers, longer life expectancies, delayed retirement ages, corporate down-sizing, long term care issues for our parents and ourselves -- these events are changing the shape of retirement and retirement planning. Consequently, we all have increased responsibility to prepare for and fund our own retirement necessities and desires. Some of these changes have had particular impact on corporate employees.
How to Include Charities
For some people, the quest to accumulate wealth becomes overtaken by the need to define their own meaning behind the money. How can wealth be used to represent their beliefs? This leads to an interest in charitable giving and the desire to make a difference.