"The Gender Gap in Financial Success" Season 2 Ep 110 Money Talks with Lynn Kitchen

Money Talks! with Lynn Kitchen

Newsflash headlines in the media, women have significantly less saved in their 401 K's than men, and what to do about it? Well, are you surprised? Of course not. We know there's a gender gap when it comes to money. We know because we've been experiencing it. But the real question is, what can we do about it? And the answer is plenty,
I'm a money mentor and an investment consultant passionate about helping women and couples achieve their dreams of financial security and wealth to have the best life possible. But many women and couples have challenges. They're overwhelmed, or at least they tell me they are overwhelmed by markets; they feel inadequate. They experience so much money anxiety; they even have arguments over money. And ultimately, that doom and gloom feeling that it's just too big and maybe even too late. Well, if you think that way, you are in the right place because that's why I teach financial workshops, and money mentoring programs, bringing my expertise from being a professional money manager for over 34 years, owning and operating not one but two investment advisory firms. Along the way, I have helped countless individuals, couples and families transform their lives by creating lasting real wealth. And everyone has the power to do this when they know how.
It's no big surprise to anyone that there is a wealth gap between men and women. It showed up in a recent study published by Bank of America with jarring headlines. Women have significantly saved less in their 401 Ks than men, and what to do about it? Well, of course, that's no big surprise. What is a surprise is just how much less. The study shows that women have saved 50% Less. That's one-half the amount that men have saved. That's big enough to put us on notice, ladies, that we may need to start socking away additional money to prepare for retirement. This Bank of America study was released called the 2023 financial life benefits Impact Report. Bank of America reviewed its retirement plan accounts nationwide. They serve more than 25,000 companies and over 6 million employees. This is a broad-based study.

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