In January 2021, 275,000 women dropped out of the labor force, amounting to roughly 80% of all workers over the age 20 who exited the workforce last month. The total number of women who have exited the labor force since February 2020 comes to more than 2.3 million. By comparison, nearly 1.8 million men have left the labor force during this same time frame.
The glimmers of hope for 2021 are flickering in the gloaming. But before you set aside your dog-eared 2020 calendar, there are a few pieces of business to attend to when it comes to your financial health and wealth. Here are 10 moves to make before year-end.
Get a greater sense of who you are and what you want, and to have the vitality, confidence, and direction to create your next amazing chapter.
Ageism is alive and well in the workplace. It’s not going anywhere. It’s been here––it’s like the last ism that people don’t like to talk about it that much. They say, “Oh, we don’t have that in our company.”
Look at saving as making an investment in your future self. It’s self-care. You’re saving for “living,” not “retirement.” To me, that’s a better way to frame it, especially when retirement is a fuzzy concept at best.
Many of us, especially those in our 50s or 60s, are now very worried about our money due to the pandemic.
For your financial health and prosperity in the year ahead, there are a few critical dates to put on your calendar and steps to take for them:
“My biggest concern is that women are still lagging their male counterparts men — even millennial women — in retirement savings as well as their income,” Judith Ward, a senior financial planner at T. Rowe Price.
Talking about money is still a taboo subject. It makes us uncomfortable. Women are great investors, but they still lack the confidence to get started.