The Northwestern MutualVoice Team is a group of professionals who share insights and opinions from experts and industry leaders across the enterprise. Our vision is to inspire others to take action and plan for their financial future through topics ranging from financial planning, retirement planning and distribution strategies, wealth accumulation and preservation, to leadership, philanthropy and innovation.
MS. SPELLINGS: Well, I think programs like this are a great place to start that are outside the government, outside formal networks, and I think obviously we need to take care of each other, to mentor each other, but not only to mentor each other, to sponsor each other, and that, you know, that distinction between, you know, being someone who is an advocate as a sponsor for that next generation of women. I think obviously higher levels of education, but we need to make sure that our women are paying attention to what the data tells us about where opportunity is. In this state, you know, STEM, whether it's the financial industry or the pharmaceutical industry, the biotech industry, those industries that are driving this state forward we want to make sure that our women and girls get part of that action and so that we're pursuing the disciplines that lead into those pathways.
Who among us doesn’t want a loftier position with a more impressive sounding title and a higher salary, regardless of where we currently work? The truth is, this isn’t always an immediately attainable reality for everyone—maybe you’re just getting started at your current job and it’s too soon to start thinking about a promotion, or maybe the place you work at is small and there’s no clear upward trajectory. Whatever the reason, if you’re seeking a promotion and there’s no obvious path for growth for you in your current job, perhaps this means you should make a more drastic change as part of your New Year’s resolution planning.
MS. CRONSTEDT: So, a dinner kit or a meal kit company is basically that we deliver groceries with a recipe that you cook at home. So, I wanted to actually improve lives of families, women, to cook quicker, better food for their families, so that's what I was doing. And mentoring opportunities and networks like these, like Global Ambassador's Program, do not exist in Russia. They're just not there. So, having been chosen to participate in this program was a huge confidence booster. It made me, you know, I was part of the team, and secondly, the time that my mentor gave me caring for my business, the insights and some very actionable advice that really worked for my business, that was very forceful. I had never thought that that would be possible. So, coming back from Russia I implemented the changes that Biatta [phonetic], my mentor, suggested, and only now that I can look back two and a half years later, I can really appreciate the amount of impact that made on my business, and actually on my second business which I started six months--
If you qualify for extra savings on out-of-pocket costs OR want more of your costs covered: Silver plans probably offer the best value. If you qualify for extra savings (“cost-sharing reductions”) your deductible will be lower and you’ll pay less each time you get care. But you get these extra savings ONLY if you enroll in Silver plan. This can save you hundreds or even thousands of dollars a year if you use a lot of care. Even if you don’t qualify for extra savings, Silver plans offer good value — moderate premiums and deductibles, and better coverage of your out-of-pocket costs than a Bronze or Catastrophic plan provide.
“It’s a bit like learning to cook: I didn’t need to do it when I was growing up but I suddenly realised you didn’t have to be a brain surgeon to do investing,” he says. “I can understand it and understand how much risk to take. I moved from shares to shares and property to a portfolio that includes hedge funds, property funds and a small amount in commodities,” he says.
Consider a male slugger who puts $1,000 each into two speculative stocks versus a female lead-off hitter who invests the same amount in two dividend-paying blue-chip stocks. The high-quality stocks each return 10% over the course of the year, leaving the female investor with $2,200. Meanwhile, the male investor hits a home run with one of his picks, which doubles, but strikes out with the other, which loses 90% of its value. His total after a year is $2,100.
I come from a completely non-traditional background when I was applying but ended up getting in the industry anyways. After you get in, at the junior level, hard work, have a good attitude/personality, motivation, adaptable and being smart at work (like let other ppl know you did the work..) will get you ahead, not if you are a girl or boy or loud mouth or not.
From 2009 to 2012, Bostic was assistant secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development (HUD). In that Senate-confirmed position, he was a principal adviser to the secretary on policy and research, with the goal of helping the secretary and other principal staff make informed decisions on HUD policies and programs, as well as on budget and legislative proposals.
Kimberly has been writing for ASecureLife.com since 2013. She is passionate about home security and enjoys learning about the advances in home security and the trend of moving toward more of a do-it-yourself method. She is also an advocate for online safety and strongly believes in the power of strong passwords and identity theft protection for living a more secure life. Since purchasing her first home in 2016, Kimberly has been implementing everything she has learned through her writing at ASecureLife.com in her personal life and home.
My department is pretty much evenly split, so imbalance between men and women wasn't something I took into account when deciding whether or not to join the bank. Other departments may be slightly weighted one way or the other, but that shouldn't discourage anyone from pursuing a career in investment banking. If anything, it should give women more incentive to join the industry, make it more feminine and challenge the stereotype that investment banking is male-dominated. In my experience at J.P. Morgan, men and women are treated equally. I've never felt that I'm at a disadvantage because I'm a woman.
MS. TURLINGTON BURNS: You're further ahead than I was. I ran my first marathon in 2011 and we were given ten spots for a very new charitable organization as part of the New York City Marathon. And I thought, "Well, I know some runners, and I can't not run it as the head of this organization." So, I signed up, and immediately when I started training I saw the connection between what we're trying to do, where there is need, and where there is really an intense barrier, which is distance, and how we can connect the dots there. So, I ran the first one and then I thought, "Oh yeah, I have two kids. I think I could do that two times." And then it just started to grow, and it's turned out that there are a lot of runners out there, or people who are just—I think people who are taking care of themselves and are active, healthy people, are more likely to care about the health and wellbeing of others, than your average person. So, we found that it's been a very connective, very community-building type of event, and people go couch to marathon, or they walk, cycle, you know, anything that you do already there's a way that you can contribute that effort towards other people.
Another difference is that men are more likely to say that outperforming the market is their top investment goal, whereas women tend to mention specific financial goals, such as buying a house or retiring at 60. Affluent women are more likely to seek financial advice and fewer direct their own investments compared with men, according to Cerulli, a research firm. But they seem to be less satisfied with the advice they are getting. A survey in 2016 by Econsult Solutions, a consultancy, found that 62% of women with significant assets under management would consider ditching their manager, compared with 44% of men. Anecdotally, millennial women who inherit wealth are prone to firing the advisers who came with it.
Investing itself, we’re in favor of. (You might have picked up on that, since we’re a company named Ellevest.) Especially investing in low-cost, well-diversified investment portfolios. That’s because — we’ve said it before, and we’ll keep saying it — we really, really need to fix the gender investing gap. Women don’t invest as much as men — we keep 71% of our money in cash (in other words, out of the market). This is part of the reason that we retire with two-thirds the money of men (even though we live longer).
Best Advice: “Start reading the news! Even if it’s just one article about finance. You can sign up for alerts on your phone when anything happens in the market. That way you can learn about different financial terminology. The most nerve-wracking part of this industry is speaking to professionals and not sounding dumb or ignorant about the topics. I read The Wall Street Journal, and you can also listen to Bloomberg while you’re walking to class, just so you can hear the terminology.”