#8 SPRING-CLEAN YOUR FINANCES 2022 - MIND THE GAP! How parental leave can turn into a pension gap

Germans are great at saving money. But put our savings habits
into a gender context, and it no longer looks so great. It turns
out that women lag far behind men when it comes to actually
investing their savings, with only 13% of German women owning any
stock at all. Why?





To begin with, women simply earn less than men -
Germany has one of the worst pay-gaps between genders in Europe,
at 18-20% - so women have less savings to
invest in the first place. 





By not investing any savings that they do
have, women end up with significantly less to
retire on - so Germany’s pay-gap spirals first to an investment
gap and then into a retirement gap at the later part of
life.  Let's not forget that women live on average 5-7 years
longer than men…





Add to this the fact that women are not only more likely to
accept a drop in income to care for children and elderly
relatives than their male counterparts, but also that
they also do a full hour and a half more of unpaid work
every day than men do. You’re looking at an enormous financial
imbalance that urgently needs addressing. 





Andrea Fernandez is a Harvard Business School graduate who
has worked in finance for many years at JPMorgan, Allianz
Global Investors, and Liqid. During her parental
leave she came up with the idea for Vitamin, an app
that helps women take finances in their own hands and
start investing. 





In our latest podcast, she calls on all women to start investing
- no matter with what amount. She argues that even 100
Euros monthly can grow into a retirement fund, if you
start early enough! 





So let’s close those gaps and start putting our money to
work 


 


Speaker: Andrea Fernandez, Founder of Vitamin


Interviewer: Dr. Ricarda Engelmeier -
Founder @MyCollective


Music: sponsored by @Michaelkadelbach


Photograph: Andrea Fernandez 


Graphic & Production: MyCollective


#getinspired #podcast #inspiration #MyCollective #FemaleFinance
#WomeninFinance #Invest #PayGap #ClosethePayGap #InvestmentGap
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#womenleaders #parenthood