A Transcript from Women, Leaders and Finance Pod Cast
Hi and welcome to another audio blog. I’m Jennifer Kleckner from Precision Prosperity. Today we’re taking about women, leadership and their impact on finances!
Many of us already know this but Women… We’re having an impact when it comes to financial power but there’s still room to grow! Although I’ll share some encouraging statistics we have to understand that there’s a stigma in our society between money and women. For example, friend of mine had a financial advisor tell her that maybe her next step was to find a rich man. So the struggle is still out there.
But it’s shifting as many women reside over countries and governments, as well as serving as chief executives of national and international companies. And let’s not forget how many of us are CFO’s of our households! Did you know that 38% of married women earn more than their husbands?
While it is true that we still face challenges, like equal pay, a large number of us also control a significant portion of the nation’s wealth and more women are also leaders on the job. So things are changing. But let’s get to some hard core numbers.
A report released by BMO Wealth Institute titled “Financial Concerns of Women,” it analyzed the personal and professional progress of American women over the last 50 years, and revealed that women are in control of 51% ($14 trillion) of personal wealth in the United States.
If you want to understand the speed in which women’s wealth is growing globally - According to Money.com, In 2015 Women controlled over $39.6 trillion, or about 30% of the world’s wealth and by 2020 that number will rise, where women will control an impressive $72.1 trillion.
As we look at careers, the Institute found that women have assumed a little more than half (52%) of management and professional positions in the United States.
But we aren’t stopping there. An increasing number of us are becoming entrepreneurs - women now own 30% of all private businesses.
As we build and lead companies, we bring a strong difference to leadership. And by the growth of women leaders these traits are a building block to our success. So let’s see if you resonate with any of these characteristics.
Women tend to lead with….
Kindness without weakness
Confidence without arrogance
Strength without harshness
By Modeling without preaching
Positive without being unrealistic
I’m going to close this segment with a final perspective that makes us strong and different. We’re passionate about giving back!
Even though we’re are making great strides with wealth accumulation, we don’t keep it all for ourselves. We share through mentorship, as well as a financial contributor.
According to a 2011 study, women are either sole or equal partners when it comes to making a charitable contribution in 90% of high-net-worth households.
Women also comprise 62% of donors who make contributions following their death.
When the survey respondents were asked what motivates them to give, 81% said we were moved by how our gift would make a difference in someone else’s life.
As we continue the journey, we’ll continue to make a difference as passionate leaders, mentors, business owners and colleagues.
If you want to learn more, check out our Precision Strategy section. Or if you want more information or have a question, contact us! We’re happy to help!
Thank you
