Women and Financial Literacy: A response

Scrolling on LinkedIn, this link was promoted in my feed.
https://www.edwardjones.com/preparing-for-your-future/investing-considerations/women/approach.html

Specifically, it was shown with an image with the words, “42% of women* reduce their hours at some point in their careers to take care of children or parents”. When clicking on the link, it highlights five questions all women should ask to better invest for their futures.

These questions are,
Where I am today? Where would I like to be? Can I get there? How do I get there? How can I stay on track? The article and questions both assume two things, 1) a woman’s life expectancy is longer than that of men by three or four years on average, and 2) Many women leave the workforce for a period of time to take care of children or parents.

Certainly, there must be some truth to their claims, or else they would not be able to promote it. A quick google search of “women leaving work to take care of children statistics”, and the top hits do support this claim, with the most recent one being from 2016. And indeed being a parent these days certainly assumes at least one parent is home full-time.

However. A woman should not only invest in their financial futures just because there’s a 42% chance they will leave the workforce to take care of children or parents. Furthermore, these are questions ANYONE, not just a woman, should be asking when making investments. The very statistical evidence that women are expected to live longer should have them informed and engaged when it comes to their financial future. Not just because they may need to take care of other family members, but for themselves.

Too often women are painted as figures who know nothing of their finances. As figures who need help navigating this world. Who need to be told what questions need to be asked to secure their financial success. When being the ones more likely to stay at home to take care of children or parents, are also more likely the ones managing the household budget. Thus understanding finances, and long-term planning.

Is this a problem with our society? That it’s assumed and expected women are lacking in knowledge when it comes to financial literacy? Or that it is still assumed the women will be the ones to stay at home with their families?

Consider this? Women know how to invest in their futures. Not all women can or do choose to stay at home with their children or parents. When trying to approach a demographic instead open it to everyone, not just a single percentage. Hear what they need to ask.