Schwartz Financial Associates, Inc


701 Route 73 North Suite 6, Marlton, NJ 08053

Phone: (856) 216-0390



July/August 2019

Financial Challenges Many Women Face

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Studies show, on average, women earn less, have smaller retirement account balances, and live longer than men. There is a temptation to talk about women’s financial challenges rather than their solutions. But the reality is that a need is a need, regardless of gender, and women can better meet their financial needs when they understand their options.

Career Advancement
The U.S. Bureau of Labor Statistics found that 42% of women in the labor force held a Bachelor’s degree or higher in 2016, up from 11% in 1970. Having a college degree is a prerequisite for many jobs today — and women are clearly taking up this challenge. They can build on this with continuing education to help them advance in their careers.

Education and training matter for two reasons. One, women may take time off to start and raise a family, putting their career progression on hold. Two, any person taking a career timeout may see an adverse effect on how much they save for future goals.

How do you meet these unique challenges? Continue to learn, either through formal or industry education, to increase your marketability. Online courses in both areas are now the norm rather than the exception, making it easier to continue your education while taking a career break. When returning to work, insist on equitable pay. While women are making gains, they still earn just under 82% of what men earn. In times of full employment, you have options if your current employer undervalues your contributions.

Financial Catch-up
The second part of meeting your unique financial challenges is to make up for lost time, financially speaking. The cold reality of money is that women may save less than men for long-term goals. You can overcome financial time-outs by planning for them both before and after the fact.

Take saving for retirement: The earlier you save, the more opportunity there is for time and compounding to potentially help your savings grow. If you know a career timeout is in your future, double up on your retirement contributions before your break, while finding ways to maintain a disciplined approach once resuming your career.

Get Help
If you aren’t sure how to overcome these financial challenges, a financial professional may help you sort out your options. Understand your challenges, however unique they may be, and consider the steps you can take to conquer them. Take the emotion out of your decision-making and empower yourself to take the steps necessary for a more secure financial future.


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Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and a registered investment adviser. Cetera is under separate ownership from any other named entity.
Advisory Services and Financial Planning offered through Vicus Capital, Inc., a Federally Registered Investment Advisor.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor.  Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.
Schwartz Financial Associates, Inc and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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