Restarting Your Career: 8 Tips for Women Going Back to Work

Are you looking to rejoin the workforce or to start a professional career for the first time? Kylie Ora Lobell has excellent advice for you. She provides detailed suggestions on the following topics:

1. Find Remote Jobs

2. Sign Up for LinkedIn

3. Reach Out to Former Colleagues

4. Include Relevant Stay-at-Home Experience on Your Resume

5. Brush Up on Your Education and Skills

6. Perfect Your Body Language

7. Find the Right Health Insurance

8. Don’t Forget the Work-Life Balance

Where and How to Find Jobs

For details read the full article: https://www.moneygeek.com/financial-planning/tips-for-women-returning-to-work/

Understanding the women’s wealth gap webinar March 31

 The consumer Financial Protection Bureau presents:

Understanding the women’s wealth gap

Thursday, March 31, 2021, 2-3:30 p.m. ET

Join us for facts about the women’s wealth gap and the unique challenges many women encounter on their journey to financial well-being. The presentation addresses the impact of COVID-19 on women, the challenges women face in retirement, and how intimate partner violence can impact women’s pursuit of financial well-being.

According to the five principles of effective financial education, programs can be more effective when they matched to people’s specific circumstances, challenges, and goals. This webinar can help you improve your effectiveness through a better understanding of the people you serve.

Audio and presentation: https://cfpbgov.webex.com/cfpbgov/onstage/g.php?MTID=ecb0a2d5242e62395cda06f7d5217f67e

Event number: 199 468 0363

Audio only:
Dial-in:   +14043971590
Access code:   199 468 0363
Event Password: tvD2B6JKav3@ (88322655 from phones)

Too many women still let husbands make important financial decisions

Fully 56% of married women still leave major investing and financial planning decisions to their husband, according  “Own Your Worth,” a report from UBS Global Wealth Management.
Why is this a concern?
The divorce rate for ages 50+ has doubled since 1990
Women live about 5 years longer than men (and often marry older men)
Women are much more likely than men to experience poverty in old age or a steep reduction in their level of living after death of spouse or divorce
You'd think the situation would be better for young er women but UBS reports that 61% of millennial women let their husbands make the couple's investment decisions!
Women who fail to take responsibility for their long term financial future by abdicating decisions to their husbands often experience a rude shock after divorce or death of their spouse.
Read: Rise of ‘Gray’ Divorce Forces Financial Reckoning After 50 by Suzanne Wooley at;
https://www.bloomberg.com/news/articles/2018-04-13/rise-of-gray-divorce-forces-financial-reckoning-after-50

• Read "Own your worth—How women can break the cycle of abdication and take control of their wealth"

Women spend less than half of adult life in marriage- implications for retirement

A study by the Center for Retirement Research at Boston College found that the average US woman now will spend less than half of her adult life as part of a married couple. This "has significant implications for financial planning," the study's authors note. (8/21/17 Retirement Security Smartbrief).

Do Women Still Spend Most of Their Lives Married?

byAlicia H. Munnell,Geoffrey T. SanzenbacherandSara Ellen King

IB#17-14

The brief’s key findings are:

• Traditionally, women spent their adult lives married, so it made more sense to study households rather than women separately.
• The question is whether today’s women are spending fewer years married.
• The analysis looks at four birth cohorts, ranging from the Depression Era to Mid Baby Boomers.
• No matter how you define the age span, the percentage of years spent married has dropped from about 70 percent to 50 percent.
• The reasons are three-fold: 1) fewer women get married; 2) when they do marry, they get married later; and 3) more women end up divorced.
• Thus, looking at women’s finances separately from men is increasingly necessary for a full assessment of their retirement security.

http://crr.bc.edu/briefs/do-women-still-spend-most-of-their-lives-married/ 

Women need to invest for retirement security beginning with their first job and not depend on a man for financial security in later life. 

The Huge Retirement Penalty for Being a Mom

To reinforce my earlier post about giving mom an Individual Retirement Account rather than flowers or brunch for Mother's Day read on...
"As Mother’s Day approaches, families are busy buying flowers or booking a brunch at a favorite restaurant. Sounds great, but you may want to check on Mom’s retirement plan."
1. Moms generally earn less… 
2. …so they save less for retirement…
3. …and receive lower Social Security benefits.
4. Yet they have longer retirements to finance…
5. …which adds up to higher odds of poverty in retirement.    
Read the details by Penelope Wang at: http://time.com/money/4318170/retirement-penalty-mother/
Then search for "IRAs" on this blog for how to arrange an individual retirement account for mom. Adult children might want to contemplate the impact on their lives when mom is old and living on only Social Security.

Women are solid investors

3 Reasons Why Women Are Better Investors Than Men

"Study after study shows that when women do invest, they do it well, outperforming men in many cases. In 2001, researchers found that women outperformed men by close to 1% per year, largely due to men’s propensity toward frequent trading."

1. They’re more likely to save
2. They’re less likely to tinker
3. They ask for help 
https://www.nerdwallet.com/blog/investing/3-reasons-why-women-are-better-investors-than-men/

Single female boomers are happier, healthier and more confident

It's great to read some good news about single women.

"Over half of unmarried female baby boomers plan to stick with their job for at least five years, according to a survey by Del Webb. "We've seen that single female boomers are happier, healthier and more confident than ever, and our survey results show that those who are still working aren't rushing to retire," Division President Lindy Oliva said." Read details at: http://www.thinkadvisor.com/2015/06/09/forget-retirement-older-single-women-love-their-jo

Time for single, divorced, & widowed boomer women to invest for retirement

In "6 ways boomer women can get retirement savings on track" Melody Juge gives advice to single, divorced or widowed boomer women. She provides excellent advice at http://www.marketwatch.com/story/6-ways-boomer-women-can-get-retirement-savings-on-track-2014-10-22?page=1. My students discovered you can start an IRA at Schwab for only $100. With the dramatic drop in the price of gas, you can find the money to get started in less than a month.

Education, taking risk can help women catch up on investing for retirement

“Women may save less for retirement on average than men. Consumer Reports advises they can catch up through financial education, a greater willingness to take investment risks and a skeptical approach to reverse mortgages.” http://www.consumerreports.org/cro/news/2013/09/do-women-or-men-save-more-for-retirement/index.htm