According to a new study by Edward Jones, "Women's Empowerment," although women have made significant progress in gender equality and employment at work, one of the biggest obstacles they continue to face is the tendency to "put family needs first" in addition. To save their future. That really helps to explain what the financial services company admits is a natural contradiction in terms of findings: Although 7 out of 10 women interviewed say they feel “confident” in their financial knowledge, in fact most have done too little to make their own in the long run wealth. "Only 25 percent of women interviewed consider retirement savings as their most important goal over the next three to five years," said Richardson, an investment strategist at Edward Jones. "That tells us that financial empowerment of women should be next on the list of obstacles women have broken in the last few decades." Two other major challenges women need to overcome, according to a national sample of 1,004 older women 18 years of age and older, are waiting for the “perfect” time to invest (something men do), or something that can motivate them. Other examples: Great increase or other downturn (49 percent). Financial emergency (20 percent). An important life event (20 percent). Market adjustment (12 percent). Says Richardson: “Waiting for a raise or an important event in life, by definition, is not a financial plan, and they will always have competing priorities. The important thing is to expect both storms and storms in life, and to be flexible enough to adapt to changing circumstances so that you can meet your long-term financial goals. ” Edward Jones sets out a women-centered approach to managing your finances on his website. But here's a quick cheat sheet to get you started:
• Put yourself first by starting to invest now to give your money time to grow - never underestimate the power of the amazing thing called compound interest.
• Start small by investing modestly.
• Develop a financial strategy based on principles.
In terms of how well women are performing financially, here's one remarkable milestone: Forbes' list of the world's 100 richest women produced only four women in 2000 compared to 10 this year. The richest woman - and 15th overall - is L'Oréal heir, Francoise Bettencourt Meyers, who is the female chairman of the company that owns the family. But he gained his wealth, you say? However, the youngest millionaire ever, according to Forbes, is 21-year-old makeup Kylie Jenner. Secondly, choosing a company that fosters that kind of growth for women will not only groom you to rise to leadership at that company, but it will provide personal and professional development. A good healthcare plan and vacation time are great, but benefits that help you achieve a work-life balance contribute to overall workplace happiness, too. Life happens. Our kids bring home stomach viruses that take down the whole house. That’s why you should inquire with potential employers about work-from-home policies. Before you begin your job – and company – search, consider creating a list that includes not just what you want in your next position, but what it is you’re looking for from your next move. I chair the TD Women in Leadership initiative at TD Bank, and our goal is to increase representation of women at senior levels by expanding leadership opportunities for women. We offer, for example, a great mentoring program for women across the TD Bank footprint. This year, we’re planning to expand it by implementing one-on-one mentoring for high-potential women.
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