Women and Money: Part 2

first_imgReferences:Allington, A. (2016). Women more likely than men to face poverty during retirement.Clydesdale, R. (2016). How parents can help their daughters avoid the financial gender gap.David Lerner Associates. (2014). Women and Wealth Management: Is There a Gender Gap?Long, H. (2017). Fresh evidence women are better investors than men.Mosbergen, D. (2016). The Gender Gap That No One’s Talking About.Nowak, J. (2017). Closing the Gender Gap: Financial Life Planning for Women.Parker, K. (2015). Women more than men adjust their careers for family life.Theodos, B., et al. (2014). Do Financial Knowledge, Behavior, and Well-Being Differ by Gender?United States Census Bureau. (2011). Divorce Rates Highest in the South, Lowest in the Northeast, Census Bureau Reports. By Carol ChurchDo you think you understand the differences between men and women when it comes to personal finance? Are you confident that the women in your own family are saving and investing adequately for the future? In Part 1 of this series, we went over some surprising facts about women and financial knowledge, debt, and investments. In Part 2, we’ll learn some facts about women and earnings, work, and retirement that may really make you think.Part 2: Facts about Women and Earnings, Work, and RetirementWomen earn less money, on average.Though the reasons for the wage gap are complex and involve more than simply paying women less for the same work as men, there is no doubt that it exists. On average, in the United States, women earn 83 cents to men’s every dollar. This basic fact disadvantages women on average as far as earnings.(By the way, this is an area where the military comes out ahead. Unlike in the private sector, military earnings are transparent and fair—everyone doing the same job earns the same salary, regardless of gender, race, etc.)Women are more likely to take a break from the workforce.The world is full of people who need care, from young children to ill spouses to aging parents. The people who take time off to care for these people are much more likely to be female. On the whole, Pew Research Center recently found, 42% of women with children are likely to reduce their work hours to care for a family member at some point, and 40% are likely to take a significant amount of time off work to do so. Women are also much more likely to quit a job entirely to care for children.Women in the military have somewhat better than average options here, with 12 weeks of paid maternity leave. While this may not sound like a lot, it is far better than what is available to many women in the private sector, who may only get 12 weeks’ unpaid leave, a protection that does not even apply to everyone.Women are harder hit financially by divorce.Divorce is tough on both genders, but it hits women harder. Divorced women have lower average incomes than divorced men and are more likely to live in poverty and to need public assistance. Their post-divorce incomes also fall much more dramatically than men’s.Women are just as likely to be saving for retirement as men…but they have far less in their accounts.Both genders face problematic shortfalls, but the situation is far worse for women, even young ones. This is due to the wage gap and “time off from work” problems discussed above.This is another area where women in the military may have significant “leg up” on the civilian women, due to pay parity and the excellent TSP options available.Women live longer than men and are more likely to die single.The lifespan of the average American woman is 81 years, while the average American man lives to be 76. (Lifespans are likely to continue to lengthen—but with this increase will come more medical costs.) This simple fact means that women need to plan for more years of life and save more money. This is why I told my daughter that the impact of compound interest may matter even more to her.Women rely more on Social Security—but they have less to draw on.Due to their less extensive work histories, women are less likely to be able to draw a pension and have less significant retirement funds, so they rely more on Social Security in older age. According to a recent poll, 50 percent of retired women say SS is their main source of income, while only 38% of retired men say the same. However, the problem of having shorter work histories comes into play here yet again.And the clincher: Women are far more likely to live in poverty in their elder years.All of these facts about women’s lower earnings, lower retirement savings, the impact of divorce, reduced time in the workforce, and reduced stock market participation snowball into one very problematic fact: women are much more likely to experience poverty in retirement than men. They are 80% more likely to live in poverty at age 65, and three times more likely at ages 75 to 79. These facts are hard to acknowledge, but they are important to look at.What Should We Do with All This Information?If you’ve read this far, and these facts concern you, you may be wondering what the solutions are. While the answers are complex, experts do have some suggestions, from basic to not-so basic. They include:More and better financial education for both genders, early in lifeIncreasing women’s financial and investment confidencePaying closer attention to women’s retirement situation (for instance, military wives should be sure to fund their own retirement)Working to close the wage gapFinding ways to ensure that caregiving responsibilities do not torpedo women’s careerslast_img read more


Mens Hockey No 4 Ohio State sweeps No 13 Penn State in

Members of Ohio State’s hockey team celebrates after senior forward Freddie Gerard’s goal during the first period of Ohio State’s hockey game vs. Michigan on Jan. 11. Ohio State lost 2-1. Credit: Nick Hudak | For The LanternNo. 4 Ohio State (15-5-4, 8-3-3-2 Big Ten) won both away games against No. 13 Penn State (13-9-2, 5-8-1-1 Big Ten) this weekend, giving the Buckeyes three wins in a row leaving the weekend.Game 1The Buckeyes dominated their first match, winning 4-1 in an aggressive game against Penn State.  Midway through the first period, Ohio State freshman forward Gustaf Westlund, playing his first game since recovering from an upper body injury, scored his third goal of the season 10 seconds into a power play, putting the Buckeyes up 1-0.  With about a minute left in the period, Penn State scored on its own power play, bringing the score to 1-1. This would be Penn State’s only goal before the Buckeyes scored three unanswered to finish the game.Shortly into the second period, junior forward Tanner Laczynski, assisted by senior forward Mason Jobst and junior defenseman Gordi Myer, scored to give Ohio State a 2-1 lead.  Minutes later, Jobst once again assisted, this time helping Westlund score his second goal of the night. Then, with only 2 minutes left in the third period, Laczynski passed to junior forward Ronnie Hein. Ohio State shot 33 times while Penn State managed a season-low 22 shots. The Nittany Lions are No. 1 in the NCAA with 944 shots on goal this season. Ohio State is No. 2 with 856.Game 2Penn State showed more of its aggression in the second game, but Ohio State came out on top, winning 6-4.Ohio State took control of the game during the second period, scoring on four power plays in the middle 20 minutes to take a 5-3 lead it wouldn’t give up for the rest of the game.The first period was tame in comparison, with sophomore Grant Gabriele of Ohio State getting his first career collegiate goal with an assist from Hein.  Penn State answered with a goal 10 minutes later, tying the teams up 1-1 by the end of the period.The second period opened up with the Nittany Lions advancing their lead to 2-1 within the first two minutes.  Following a trip against Penn State, Ohio State began its run of goals on the power play. Senior forward Dakota Joshua tied the game up 2-2, which was followed by junior defenseman Matt Miller putting the Buckeyes up 3-2.  Penn State received a major penalty for boarding after a hit to the back of Laczynski, giving Ohio State five more minutes with the man advantage.  Despite being shorthanded, Penn State scored its third goal of the game, once again tying the teams up 3-3. Ohio State took advantage of the major penalty, with Joshua scoring his second goal that period. Then, with only a few minutes left in the second period, Westlund put a puck into the Lions’ net, advancing Ohio State to a 5-3 lead.Laczynski left the game following the hit by junior forward Blake Gober, and did not return. Midway through the third period, Jobst scored his 14th goal of the season, giving the Buckeyes their sixth score of the game. Penn State scored the last goal of the game, bringing the final to 6-4.Both teams were very evenly matched on the shot totals, with the Buckeyes shooting 39 times and the Lions shooting 38 times.The Buckeyes held Penn State to a combined five goals in the home series. The Nittany Lions averaged a NCAA-leading 4.86 goals per game heading into the matchups.Ohio State enters a bye week before facing off against No. 12 Notre Dame on Feb. 1. read more


Football Greg Mattison aims to use defensive depth to his advantage at

Ohio State co-defensive coordinator Greg Mattison speaks to the media on National Signing Day. Credit: Colin Gay | Sports EditorGreg Mattison was very complimentary of the defensive line as soon as he was hired as a co-defensive coordinator at Ohio State. He said it was not hard to see the level of talent the group had, saying he wanted to turn them loose as soon as he saw what they could do. Then he saw the rest of the defense. Without having a position room to call his own, Mattison watched everyone: from co-defensive coordinator Jeff Hafley and the cornerbacks to Al Washington and the linebackers. “When I look at people, I go, ‘Boy, that’s a second-teamer?’” Mattison said. “‘That’s a pretty good second-teamer.’”With the amount of talent at his disposal, Mattison saw a way to utilize tempo, something he has embraced in his 48 years coaching football, encouraging players to go as fast and as hard as they can. Ohio State has the ability to do that because second-and-third team players on the sideline waiting to get their opportunity and play with the same amount of energy and effort when the starter has given his all. “That’s our deal: that we have enough depth and we have enough talent that the next guy steps up, gives you a break,” Mattison said. “It doesn’t mean you did something wrong, it means you can come back and be way, way more healthy and way more vibrant and way more energy, and then the next guy goes back in again.” Ohio State head coach Ryan Day said he had something similar this past season in the wide receiver room. He said when Parris Campbell needed a break, then-redshirt junior K.J. Hill could step up and get reps, when Terry McLaurin needed sidelined, Johnnie Dixon was there to back him up. For Day, that’s the ideal situation for the entire team, calling it a “two-deep and a spare.” With that, he said, no matter the position, it keeps players fresh late in games and late in the season. With the experience Mattison has, Day said this was part of the reason why he wanted him on his defensive coaching staff. “He kind of has that mentor feel, where you look to him for advice, been around a long time, seen a lot of football, a lot of wisdom. I feel like that was important to have. He’s someone that the guys look to with a lot of respect, where he’s been, who he’s coached what he’s done,” Day said. “When he speaks, people listen.”  On the defense, Mattison highlighted the amount of depth on the defensive line and the linebacker positions as ones that could really make this approach come to life. “When you have a really, really good defense, you don’t have a person second-team,” Mattison said. “You have a first-first team and a second-first team. And that’s how it’s going to look.” Mattison has bought into the Ohio State football culture when it comes to tempo. From junior defensive end Chase Young to sophomore defensive end Tyreke Smith, from redshirt junior linebacker Tuf Borland, who was also sidelined with an injury, to sophomore linebacker Teradja Mitchell, Mattison seems to have the pieces to create a defense that has one common goal. “Our thing is to try and keep it simpler and let them play and not make it too simple, but put it in their hands more,” Mattison said. read more


Salah targets Van Persie Ronaldo record

first_imgLiverpool’s Mohamed Salah has set his sights on another Premier League record held by former Manchester United stars Robin van Persie and Cristiano RonaldoIn Liverpool’s previous league game against Watford, Salah scored four times to set himself on course for the record of the most goals in a 38-match season and should the Egyptian international score against Crystal Palace on Saturday he will equal the record, according to the Premier League.A goal on Saturday will mark the 21st match this season that Salah has scored in, which has only been achieved twice by Van Persie (2012/13) and Ronaldo (2007/08).The last time both Liverpool and Palace met was back in August at Anfield with Jurgen Klopp’s side emerging with a narrow 1-0 victory, in which Salah failed to score in.divock origi, liverpoolReport: Origi cause Klopp injury concerns George Patchias – September 14, 2019 Divock Origi injury in today’s game against Newcastle is a cause for concern for Jurgen Klopp.Perhaps with one eye on Tuesday’s trip to Italy…Other teams that have prevented Salah from scoring in the Premier League this season are:Manchester CityNewcastle UnitedMan Utd (twice)Huddersfield TownBrighton & Hove AlbionWest Bromwich AlbionSwansea City (twice)Should Salah be able to break the record held by the former United duo, then he will next set his sights on Alan Shearer’s record at 24 of his 40 matches for Blackburn Rovers in the 1994/95 season.Currently Andrew Cole has the record for most Premier League matches scored in one season. The ex-Newcastle United striker scored in 26 of his 40 matches throughout the 1993/94 season.last_img read more


Rooney right to leave Everton – Craig

first_imgFormer Everton player Nathan Craig believes Wayne Rooney’s decision to move to the MLS was the right one.The Caernarfon Town midfielder believes the former England captain made the right choice by deciding to continue his football career in the United States.Rooney signed for Major League Soccer side DC United on a free transfer this summer from Everton.The former Manchester United striker scored his first goal for the club in their 2– 1 win over Colorado Rapids, Rooney was also named captain for that match.“It seems like his career in the United States has gotten off to a great start after he scored that goal against former teammate Tim Howard,” Craig said.Premier LeaguePremier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“One thing is, he has always had an eye for goal and I’m sure he can continue to do that on a regular over there.”Meanwhile, Craig also spoke about his former team Everton, their new manager and the chances of them having a successful season.“I think Everton’s preseason campaign has not been the best. I know a lot of teams don’t pay attention to results in preseason friendlies but I think they’re important because winning games breeds confidence,” he said, according to Daily Post.“I don’t feel confident about the team’s chances this season, and a lot of others.”“Let’s just hope they find their rhythm and confidence before the season starts.”last_img read more


Bong says he loves his country

first_imgThe Brighton and Hove Albion defender has returned, four years later, to the national team because he loves Cameroon so muchBrighton and Hove Albion Cameroonian defender Gaetan Bong has returned to his country’s national team.The footballer didn’t play for Cameroon since 2014, and now he has come back.“I wasn’t going for three or four years because I know how it can be tough sometimes in my country,” Bong was quoted by Goal.Quiz: How deep is your knowledge about Samuel Eto’o? Tomás Pavel Ibarra Meda – September 9, 2019 It’s time for you to tell us everything you know about Samuel Eto’o. We will ask you 10 questions about the Cameroon legend. Enjoy!  “But finally I made the decision to come back because I know I love my country and I know I can help.”“The thing I love with our nation is that we always give love, we give everything, we enjoy life even with nothing. I miss this feeling, I miss this love,” he added.“[Kylian] Mbappe played for France but he is from Cameroon. In future we want the young talent to go and play for their African countries because we made them.”last_img read more