by Judith Ward
July 09, 2018
by Judith Ward
July 09, 2018
Women face a number of gender-specific risks when it comes to money. According to U.S. Census Bureau research, women earn roughly 80 cents on the dollar compared with men. In addition to the disparity in our paychecks, there is a far more significant lifetime earnings gap that is most prevalent with women who take time away from their career to raise children or take care of others.
Of course, the mantra in a primary earner household is, “what’s mine is ours.” The income is meant to support the household. And that’s great—until it’s not. Life events and financial shocks can wreak havoc on the best-laid plans. The biggest disruptors are divorce, disability, unemployment, and widowhood. An at-home mom may find herself suddenly single. Even a working woman may have to leave the workforce prematurely to be the primary caregiver for her spouse or aging parents.
Planning for the “what ifs”:
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