Financial Literacy for Women: Bridging the Gender Gap

Financial Literacy for Women: Bridging the Gender Gap

Sep 08, 2023

Throughout their upbringing, girls have often been taught the art of budgeting but not the science of investing, while boys are typically educated about investing but not budgeting. This disparity in financial education creates a significant gap in financial literacy between the genders.

Despite substantial progress in narrowing the gender pay gap, it remains a persistent issue. Recent research from the Institute of Gender and Work at the London School of Economics revealed that 38% of adult women now earn more than their male partners. This shift in earning dynamics raises an important question: Could women have been better prepared for retirement and financial stability if they had received equal financial education and societal expectations regarding investing?

The answer is a resounding "yes." Women earning more should have been encouraged and equipped to invest their earnings wisely, ensuring financial security for their future. This approach is crucial not just for the individual but also for society as a whole.

As an End-Of-Life strategist with a background in Health Law and bioethics, I focus on helping baby boomers make their fourth quarter of life prosperous in terms of physical well-being and financial stability. It's a reminder that we all have an exit strategy, not a matter of "if" but "when." Have you considered your exit strategy? Does it encompass your financial well-being, sustaining you for the next few decades, and providing for your surviving family members after you've departed?

Empowering women with financial literacy, including both budgeting and investing knowledge, is a critical step toward closing the gender gap in earnings and ensuring a prosperous fourth quarter of life for all.