The Shocking Reality of the Gender Wealth Gap: Exploring Key Data Points and Implications
Gender Wealth Gap
The gender wealth gap stands at 32%, highlighting the disparities in wealth accumulation between men and women. With women earning less due to the gender pay gap, saving and investing for the future become daunting tasks.
Gender Wealth Gap by Race and Ethnicity
Research shows that single moms from different racial backgrounds have significantly lower wealth compared to white male-headed households. Structural barriers and discrimination contribute to these inequalities.
- Hispanic women: $0.10 of wealth for every dollar of white male-headed households
- Black women: $0.05 of wealth for every dollar of white male-headed households
Retirement Savings Disparity
Women have 70% of the retirement income that men have, leading to lower Social Security benefits and pension income. The gender pay gap exacerbates these discrepancies, affecting women's financial security in retirement.
- Women receive $0.70 for every dollar of retirement income that men receive
- Women get 80% of men's Social Security benefits
Despite the challenges, the post highlights women's resilience in the face of financial inequalities and their success in stock market investments compared to men.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.