The Right Track
The gender gap in pay has narrowed since 1980 - particularly among younger workers - but it still persists. In 2015, women earned 83 percent of what men earned, according to a Pew Research Center analysis. For women of color, the pay gap between men and women is even greater. But focusing on what's under your control is about balancing career and family while acquiring the knowledge you need to get ahead in your profession.
Have a Plan
Some female executives may have a tendency to believe they have to be as knowledgeable about investing and the markets as they are about their own professions before getting started. This couldn't be more untrue. Knowing what you can and can't control is a huge part of the equation. Leverage your Wealth Advisor's access to resources and insights that women need to make financial decisions that fit their unique circumstances and aspirations.
Read Our Economic and Market CommentaryManage Your Capital
Women in the prime of their career in their 40s and 50s should be actively involved in managing the family’s finances. Educate yourself about the family asset levels, investment selections, and investment goals. Start attending meetings with the family’s Wealth Advisor. Also, given that women tend to live longer than men, you need to ensure your assets will cover your full lifespan.
Contact a Wealth AdvisorGrow, Protect and Transfer Your Legacy
Of course, you can’t pigeonhole investors (or anyone else) based on gender. But women have a tendency to look at wealth within the context of their family and the goals they have for their family. As part of those goals, build your portfolio on strategies and principles that are designed to help weather the ups and downs of short-term market contractions and corrections.
Learn More About Estate Planning & Charitable GivingRelated Insights
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