Before presenting “Labor Day Facts and Statistics: The Gender Wage Gap,” a slideshow that highlights the connection between labor and financial planning, The Huffington Post began, “As Labor Day approaches and we all reflect on the work we and others do, it’s worth keeping in mind how fairly we are compensated for that work, and who is [in] a position to change things for the better.”
The slideshow goes on to highlight such statistics as:
- Women in the U.S. earn 77 Cents for every dollar a man earns
- Over a 40-year career in the U.S., a typical woman earns $431,000 less than a typical man
- If women’s paid wages rose to equal men’s, the U.S. GDP would increase by 9 percent
Being reminded of these things does not have to make you sad or feel victimized. Instead, you can remember that it is up to you to manage your money in the best way possible. If it is true that many women earn less than men, then it is likely that many women will have less to save for retirement. This does not have to be your story. You can and should do what you can to get equal pay and find better opportunities for yourself but don’t neglect retirement planning while you do this.
You can work with a Fee-Only financial planner to get the expert guidance you need to ensure that no matter what your income or marital status, you are working towards setting yourself up for a comfortable retirement.
Many people, women especially, have been put down and put off by the old boys’ commission-based brokerage network that long dominated financial advising. Times have changed and you needn’t see finance and investments as an industry that caters to men. Claire Emory of Clarity Financial Planning is a Fee-Only financial advisor trusted by savvy women, men, and families in the Washington DC Metro Area. Claire will guide you along the path to financial independence and help ensure that you can provide for yourself and the people you love.