FINANCE, money, wealth, no matter which way you put it this is a topic shrouded in mystery especially for black women, perhaps our unwillingness or even inability to talk about money comes from a long tradition of being dependents or even societal expectations. However one cannot deny that in today’s world more and more women are in charge of their finances, and also the majority of us do not know what to do with them.
Take retirement planning for one. Statistically women live longer than men. The average woman will also earn less in her lifetime than her male counterparts. So you find that at retirement the average woman will have a smaller amount of retirement funds but a longer span of time in which to live off it. Is the fact that women earn less despite being equally qualified fair? NO! Will crying about it help? Also No. However one can mitigate the problem. Adjust your sails to the wind as it were.
It is not only retirement sadly but a lot of financial objectives need to take into account the fact that you are a woman, martenity leave for one! Should you want to have kids what are the implications on your career and therefore your finances?
It is not all doom and gloom however. For our next blog post we will have Ms Keke Rateronko. A Certified Financial planner weigh in on how you can tailor your financial plan to your needs as a woman. Till then 💓💓