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Curry Financial Group Inc logo

Matthew J. Curry, CFP®, ChFC®, CLU®

Financial Planner

CA Insurance Lic. #4305463

 

Curry Financial Group, Inc.

23 Green Street, Suite 207

Huntington, NY 11743

 

Phone:  631-927-3322

Cell:       631-332-8774

Fax:        877-840-7821

 

Email: matt.curry@prudential.com

May/June 2025

Misconceptions Holding Young Women Back

Diverse Office Conference Room Meeting: Successful Black Female Executive Director Presents e-Commerce Fintech Growth Statistics to a Group of Investors. Whiteboard with Big Data Analysis

Despite inroads working women have made in recent years, according to the American Association of University Women (AAUW), on average, they still earn 16% less than men — 84 cents for every $1 a male counterpart earns. The gap is wider for working mothers. A report from the National Women's Law Center found year-round, full-time working mothers are typically paid 71 cents for every dollar paid to year-round working fathers.* What's at work here? For many young women, it can be these financial misconceptions.


I'm Too Young to Save for Retirement
Retirement savings may be a low priority at the beginning of a career. But it's never too early to take advantage of the power of time and compound interest. Open an Individual Retirement Account or join your employer-sponsored retirement savings plan. If your employer matches contributions, contribute at least the match amount to maximize your savings.


I Don't Have Enough Money to Invest
No amount is too small to start a regular investment program. Creating a relationship with a financial professional now can help you find suitable investments based on your financial situation and give you a foothold in future success. Take this opportunity to financially plot a plan for life events such as unexpected emergencies, buying a home, or starting a family. Debt is bad. Some debt, such as a credit card that offers cashback or other reward programs, can benefit you. Just don't charge more than you can afford. Paying credit card bills in full when due avoids interest and allows you to build credit. A good credit score can lead to better interest rates on mortgages, car loans, etc.


Personal finance can be complex and present unique challenges, especially for women. Talking with a financial professional can help you navigate these challenges.


Avoid The Retirement Gender Gap Older Women May Face
U.S. Women Turning 65 from 2024 to 2030
  • Median Retirement Assets - 45% less than male cohorts

  • Expected Annual Social Security - 5% less than male cohorts

  • HDHP Maximum Out of Pocket (excluding premiums) - 43% less than male cohorts


Statistics from AAUW show that gender-based financial barriers can set a 20-year-old woman starting full-time employment today back $462,000 in income over a 40-year career compared to a similarly situated man.


*AAUW analysis of the U.S. Census Bureau Current Population Survey and the National Woman's Law Center Mother's Wage Gap Study, 2024

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Matt Curry is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Curry Financial Group, Inc.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Curry Financial Group, Inc. and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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