It’s not just about the gender pay gap. It’s also about the gender wealth gap. What’s that? Sallie will tell you.
Question: What's the gender wealth gap? I'm glad you asked. We hear so much about the gender pay gap, that 82 cents that that elusive average woman earns in comparison to a white man's dollar. We hear much less about the gender wealth gap. If this [gestures] is what she earns, this [gestures] is what she has and what she keeps. It's her bank account. It's her investments. It's real estate if she owns it, from which you subtract how much she owes. Credit card debt, mortgage, student loan debt.
Gender pay gap, 82 cents, moving slowly in the right direction. Gender wealth gap, 32 cents — for Black women, a penny; for brown women, a penny. Moving in the wrong direction. With that movement in the wrong direction picking up, likely due to the pandemic. This is why we founded Ellevest, in order to help move that wealth gap — yes, the pay gap, but the wealth gap — in the right direction.
© 2020 Ellevest, Inc. All Rights Reserved.
All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.
Information was obtained from third-party sources, which we believe to be reliable but not guaranteed for accuracy or completeness.
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.
The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.