Guest post: Christina Empedocles, CFP® is the founder of Insight Personal Finance, a boutique financial planning firm dedicated to teaching other women how to invest. Here, she writes about why it’s crucial that women should learn to invest.
Editor’s Note: A version of this article first appeared on insightpersonalfinance.com.
FOUNDING MOMS, LET’S TALK.
I know you have a ton going on, and you’re busy running a business and taking care of your family — but this can’t wait. I need to make sure you understand how important it is to get yourself into a position where you can be regularly saving and investing for the long-term. Here are a few facts we all know, but may not have considered together:
- On average women live 5 years longer than men.
- Women are paid 17% less than men for equivalent work.
- Along with the pay gap, women make “less than men because they shoulder more of the family burden,” [New York Times]
- 50% of marriages end in divorce.
I could get lost in the details of each one of these points — but when you put them together, it all adds up to a giant, red-flashing warning sign saying that not only do we women need to save more — but those savings need to be invested for long-term growth to protect us when we’re old and flying solo. [Read more…]