In addition to facing inequality in pay, women are also lagging behind when it comes to investing. In the latest episode of the Masters of Scale podcast, Ellevest CEO Sallie Krawcheck talks about the cost this disparity in financing has on women’s lives:
“A woman making $85,000 keeps $.71 of every dollar in cash; it costs her, versus a similarly situated guy, $1 million over her life. Let's pause here. Because that's “start my business” money, “buy my dream house” money, take your friggin’ hand off my leg” money, “leave the job you hate” money, “leave the relationship you hate” money.”
Why it matters: With women earning only 50% of what men earn, the “gender investing gap,” as Krawcheck calls it, further exacerbates the wealth divide among genders, making it even harder for women to make independent financial decisions.