WEALTH MANAGEMENT
There are numerous areas where inequality in the space is stark and unequivocal , she points out . “ One of the most significant opportunities we have is to close the gender retirement gap . Women have 30-40 % less money in retirement than men on average and are more likely to wind up in poverty globally .
“ Think about how crazy this is and the magnitude of this gap . When we consider the gender money gap , many first look to wage inequality , which in developed countries is between 10-20 %. However , if we look at income in retirement , that gap balloons to over 30 % in Europe on average , and can be as high as 49 % in other parts of the world .”
Women , wealth , and the workforce Such figures are sobering , and a reminder that even in the progressive West , we are less than half a century away from a time when women were considered secondclass citizens in all areas . But times are different now – so why are there such huge discrepancies between the way men build their wealth , and the way women build theirs ?
“ BEING A WOMAN MEANS LIVING EVERY DAY WHERE PRODUCTS AND SERVICES AREN ’ T DESIGNED WITH YOU IN MIND . THAT ’ S AN OPPORTUNITY TO CREATE CHANGE ”
VRINDA GUPTA SEQUIN
Contributors
Cory McCruden ( right ) is co-founder and CEO of Wellbly Tech , a US-based fintech focused on closing the gender retirement income gap . Women have significantly less retirement income on average than men and for women of color , these disparities are even greater . Wellbly is building an AI-powered platform that features holistic budgeting tools , liquidity management solutions , and investments , that addresses the unique challenges and circumstances women experience throughout their financial life journeys .
Vrinda Gupta ( left ) is the co-founder and CEO of Sequin , a debit card that builds credit , which debit cards traditionally just don ’ t do . Sequin doesn ' t report credit utilization , meaning women ’ s credit reports are on an equal footing to that of men . Sequin is partnered with some women business founders , covering the mental health space , personal branding services , plant care , and education , and more . Additionally , Sequin is running rewards in Pink Tax categories , which is a new feature launching in 2022 .
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