By Craig Erwin
Photo By Christina@wocintechchat.com On Unsplash
When I was born in 1958, it was unusual for a woman to be employed outside the home. My mother never worked outside the home after I was born. Of course, there were some women who worked outside the home (not many), but most devoted themselves to raising children at home.
Fast forward to today and you will find that women have surpassed men in educational attainment and most women work outside the home; many are even primary breadwinners. These massive, societal changes occurred in just a few decades. The American economy and American households have benefited greatly from the mass migration of women into the workforce.
But, some things have not changed, at least not fast enough. Even though it is illegal to pay women less than men who have the same job, it still happens and it is not rare. The wage gap between men and women is much narrower today than six decades ago, but women still earn less than men on average, even those with the same jobs. Making something illegal doesn’t make it go away (at least not completely).
So, women have changed the world a great deal; for the better. Although they have been rewarded to some extent, they have certainly not reaped their fair share of gains.
Life is unfair. Waiting for the world to change so everything is fair will require an extraordinary amount of patience. Better to play with the rules in place.
When it comes to employment and retirement, the deck has always been stacked against women. So, the best things to do may be to pick a lucrative career, save aggressively, and work longer than you think necessary. It’s not fair that you have to do this, but, if your goal is to retire comfortably, these are the steps most likely to get you there.
To learn how to get started, click on this link.