You go to work, spend your money how you see fit, and live your life each day never thinking about how all that came to be. Not so long ago, women in this country couldn’t enjoy the financial freedom we take for granted today. The story of women and money is an interesting one and it is only when you take a look at the big picture that you can begin to appreciate how far we’ve come.
In Honor of Women’s History Month, I thought it would be a good idea to highlight some cool facts about women and also ask some leading female entrepreneurs in Los Angeles how they will be celebrating the progress they’ve made in their financial lives.
As of 2010, women control 60% of the wealth in America.1
Over 40% of Americans with assets of over $600,000 are women.2
Women are earning over $1 trillion dollars in wages and salaries, however women still earn on average $.78 of each dollar earned by a man.3
Women account for over 50% of the workforce and hold about half of the management positions in corporate America.3
Women make 83% of the household purchasing decisions.4
48% of women versus 38% of men do not feel confident about investing.5
Women are starting businesses at twice the rate of their male counterparts.4
Over 10 million businesses are owned by women.6 1.9 million firms are majority-owned (51% or more) by women of color in the U.S. These firms employ 1.2 million people and generate $165 billion in revenues annually.7
Women live on average 7 years longer than men and need 20% more for retirement.8
At some point in their lives, 90% percent of women in the U.S. will be managing money on their own because they’ve been divorced or widowed or have never married.9
We spend, save, and earn money differently than men. Looking at these facts makes it clear that we need financial advice tailored to us and our specific challenges.
“I am celebrating the progress I’ve made in my financial life by rewarding myself with a new website to launch in May! I keep reminding myself that “financial abundance is mine and money flows to me!”
– Danielle Dowling, Life Coach + Psychologist www.Danielle-Dowling.com