Special Guests Mindy Kaling, Cate Luzio and Reshma Saujani Join Fidelity’s Four-Week Event Series Helping Women Reenergize Money Goals—Visit Fidelity.com/InvestInYou to Register
Fidelity’s Women Talk Money Community Has Doubled in Size in Last Year, Demonstrating the Growing Interest to Reenergize Money Discussions
BOSTON, October 06, 2022–(BUSINESS WIRE)–As women continue to make strides forward and focus on what follows the pandemic, they are prioritizing what’s important to them: finances, career and overall well-being. According to recent Fidelity Investments® research, women have a more positive outlook on their careers, relationships, caregiving responsibilities and the impacts of the pandemic, compared to last year. Despite this optimism, with current economic factors such as 40-year-high inflation, 47% of women say their outlook on money and the economy has gotten worse over the past year, likely contributing to the burnout so many women are dealing with, and as a result, many are looking for guidance on their long-term financial outlooks.
Recognizing this need for financial help, Fidelity is kicking off Invest in You, a free, four-week series of virtual events to provide women with the tools and resources they need for approaching their short- and long-term goals for a successful financial future.
"After weathering disproportionate economic impacts over the past two years—from higher health care costs to caregiving costs and more student loan debt—women are ready to reenergize their futures," said Joanna Rotenberg, president of Personal Investing at Fidelity Investments. "During the pandemic, we increased the number of women we work with by nearly 20%—up to 17 million—by building a strong community and developing products and experiences that intentionally focus on women’s unique needs."
Women Made Proactive Money Shifts in Short-term, Though Long-term Financial Stressors Lay Ahead
Women didn’t let their worsened outlook on money and the economy cloud their judgment—they assessed their short-term money needs and took action. In particular, more than half of women (53%) cut back on non-essential expenses and entertainment in the past year, and within the next 12 months, some plan to pay down debt (39%) and start or add to an emergency fund (30%).
When looking beyond the immediate future, however, the short-term actions women took likely will not eliminate their three primary stressors in a significant way, which include inflation (71%), cost of essentials (65%) and not having enough saved for emergencies (58%). The good news is, women have expressed an interest in learning more about managing their money to ultimately tackle those stressors and make their money work harder for them, with top areas including managing debt and credit, how to stick to a budget and how to save. No matter where a woman is in her life it’s never too late, or too early, to be planning for goals in five years, 10 years, and further into the future.
While Women Unlocked Career Flexibility and Work-life Balance, Salary Aspect Remains Bolted Tight
Amid the mass departure of the once glorified "hustle culture" and acceptance of a genuine work-life balance—in large part due to the fresh perspectives gained during the pandemic and distance from traditional work life—women feel they have achieved a stable mindset within their careers. Fidelity’s research found that many women feel as though they can succeed in their job (84%); are more satisfied with the flexibility of their work schedule (80%); and have a good work-life balance (77%). Compared to one year ago, career satisfaction among the younger generations specifically has increased, with Gen Z (31%) and Millennial (31%) women reporting a favorable view of their or their spouse’s job security compared to Gen X (21%) and Boomer (21%) women.
When considering a new job offer, we know women want to maintain this feeling of flexibility. According to another Fidelity study1, the top three most important non-financial factors to this segment when reviewing a job offer include:
Paid time off (68%)
Schedule flexibility (52%)
Remote working (41%)
Beyond flexibility at work and work-life balance, two other key elements with a sizeable impact in the long-run include compensation and benefits. While, encouragingly, nearly three-quarters (72%) of working women feel confident around understanding and making the most of employer-provided benefits, only 57% reveal they understand how to negotiate or ask for a promotion, potentially creating an even larger wedge in the gender pay gap. However, when women do negotiate, the overwhelming majority (83%) get at least some of what they asked for1. To help achieve success in salary negotiation, whether it’s with a current employer or a new one, it's important for women to reframe the opportunity as a time to smartly advocate for themselves during a standard process all employees encounter.
Women Have Favorable Outlook on Personal Life and Well-being, Yet Burnout is Still Present
The study revealed how the majority of women have a positive outlook on their personal life. More specifically, they feel this way when it comes to relationships with family and friends (71%), physical health (59%) and overall mental health and emotional well-being (51%). Over one-third of Gen Z (36%) and Millennial (34%) women also feel their relationships with friends and family have improved over the past year, even with their continued reliance on virtual communication.
Despite this optimism, younger working women in particular are feeling the impact of various stressors and are, not surprisingly, feeling more burnt out. Only 31% of Gen Z and Millennial working women feel they have the resources to manage their stress and burnout, compared to 50% of Boomer women. Gen Z (35%) and Millennial (31%) women were also more likely to have taken time off from work due to challenges with mental health or burnout, compared to just 14% of older women. In a new hybrid working world that continues to ask more of women every day, finding the resources to help lessen that stress is crucial to maintaining long-term well-being.
New Series Designed to Support Women Through the Areas That Matter to Them in the Short-term, Long-term and Everything in Between
With women taking action and feeling more confident when it comes to making short-term decisions about their personal finances, career and everyday well-being, women are now ready to reenergize their long-term financial goals.
Starting on October 11, Fidelity’s four-week Invest in You event series brings together special guests Mindy Kaling, award-winning writer, actor and producer; Cate Luzio, founder and CEO of Luminary and Reshma Saujani, founder of Girls Who Code and Marshall Plan for Moms2; along with Fidelity leaders and the Women Talk Money community to reframe and reenergize the conversation around finances.
Join the Women Talk Money community, which has seen rapid growth since its introduction during the pandemic, for free interactive workshops and special events that will spark a dialogue around financial topics that are most relevant to where women’s thoughts are right now, including long-term goals, career, time and money, and next steps to consider to strengthen financial wellness and jump start planning for the future. Understanding women’s busy schedules, Fidelity will offer each event session twice throughout the week. It will also host the sessions in Spanish to ensure a broader group of women are able to benefit from these resources.
To find an overview of the schedule and for more information and to register for the events, please visit: Fidelity.com/InvestInYou.
Fidelity’s Year-Round Resources Helping Women Reenergize Their Finances
With a commitment to the next generation of customers, Fidelity understands it can be intimidating not knowing how to get started. There’s plenty of free resources, digital tools, newsletters and educational content that breaks down the basics, including managing your money, investing and planning for retirement.
Women Talk Money is a community—created by women, for women—dedicated to closing the gender wealth gap. Each month, on the second Wednesday at 2:00pm ET, Fidelity hosts a virtual Q&A session to normalize talking about money and lead conversations about breaking financial boundaries. This online resource center provides practical ‘what you need to know’ education about different aspects of investing, as well as steps to take to get started, and how to give a portfolio a regular check-up. Visit Fidelity.com/women. Everyone has questions, so don’t hold back from asking. Fidelity representatives are available at no cost to answer questions 24/7 at 1-800-FIDELITY, or online at Fidelity.com.
Fidelity’s Life Events hub, an online experience designed to help plan for and manage major life milestones. This includes a robust library of checklists and other guidance for more than three dozen different life events including managing a job change, caring for aging loved ones, experiencing divorce and navigating the college journey.
About Fidelity’s Study
This study presents findings from a nationwide survey of 2,008 U.S. adults ages 18+ including 995 men and 991 women. Interviewing for this survey was conducted August 15-18, 2022, by Big Village, which is not affiliated with Fidelity Investments. The results of this survey may not be representative of all adults meeting the same criteria as those surveyed for this study.
About Fidelity Investments
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $10.3 trillion, including discretionary assets of $3.8 trillion as of August 31, 2022, we focus on meeting the unique needs of a diverse set of customers. Privately held for over 75 years, Fidelity employs more than 60,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
Fidelity Investments and Fidelity are registered service marks of FMR LLC.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
# # #
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Distributors Company LLC
500 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC
245 Summer Street, Boston, MA 0211
1050500.1.0
© 2022 FMR LLC. All rights reserved.
Follow us on Twitter @FidelityNews
Visit About Fidelity and our online newsroom
Subscribe to emailed news from Fidelity
__________________________
1Fidelity’s 2022 Career Assessment Study
2The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated
View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005197/en/
Contacts
Contact for Media Only:
Corporate Communications
(617) 563-5800
Fi********************@fm*.com
” class=”link”>
Fi********************@fm*.com
Lauren Zinn
(401) 292-9861
La*********@fm*.com
” class=”link”>
La*********@fm*.com
Women in Antarctica experience significant barriers of sexism, prejudice and abuse. milehightraveler/E+ via Getty ImagesA federal report that, in the words of its key finding, “sexual assault, sexual harassment, and stalking are problems in the U.S. Antarctic Program community” – and that efforts “dedicated to prevention [are] nearly absent” – drew attention around the world. But as a historian of Antarctic science, I did not find it surprising at all. The report, released in August 2022 by the
As part of a new series, we explore whether Norway has a solution for the US and its ageing leaders.
JoJo Siwa revealed in a viral TikTok trend set to Nicki Minaj's "Super Freaky Girl" how she knew she was gay and not interested in men. See what she said here.
JK Rowling has called Nicola Sturgeon a "destroyer of women's rights" amid a row over her plans to allow people to self-identify their legal gender.
While speaking at the Hispanic Leadership Conference in Miami, former President Donald Trump continued to spread transphobic ideas. Transgender youth have been a prominent talking point for the GOP and many states around the country with Republican leaders have enacted transphobic legislation against transgender youth. Recently, Virginia high school students staged a walkout to protest the new guidelines set forth by Virginia Republican Governor Glenn Youngkin.
(Bloomberg) — Newly Hong Kong-listed CALB Co. aims to become a top-three player in the electric vehicle battery industry within five years, Chief Executive Officer Jingyu Liu said.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Nord Stream Leaks Caused by Detonations in Sign of SabotageSecretive Chip Startup May Help Huawei Circumvent US SanctionsKremlin Lets State Media Tell Some Truths About Putin’s Stalling WarStocks Slide for Second D
Lazydays Holdings Inc. CFO Nicholas Tomashot is set to retire on Nov. 15. Tomashot will be succeeded by Kelly Porter, the former corporate controller and vice president of financial planning and analysis at Lithia Motors Inc.
Financial services company Mastercard Inc. has launched Crypto Secure, a technology solution designed to help banks identify fraud-prone crypto exchanges, the company announced in a press release. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The service uses artificial intelligence algorithms and blockchain data to […]
The major stock market indexes were down for a second day in a row. A mobile storage unit stock and energy stock broke out of bases, triggering buy points on their charts.
(Bloomberg) — South Korean chipmakers have turned optimistic on profitability for the first time in more than a year as a rapidly weakening won offers a potential boost from overseas earnings.Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarMusk's Twitter Takeover Hits Snag Over Debt-Financing IssueStocks Slide Wit
As crypto markets turn turbulent, asset managers perform due diligence by looking at fundamentals like network usership to increase safety.
Talks between Elon Musk and Twitter Inc. to reach a resolution of the $44 billion takeover are stuck in part over Musk's statement that his offer is now contingent on receiving $13 billion in debt financing, according to people familiar with the matter. More from BI's Mandeep Singh and Matthew Schettenhelm and Bloomberg's Ed Ludlow.
(Bloomberg) — Cathie Wood’s latest dip-buying binge appears to be largely focused on smaller stocks, cementing her firm’s already hefty shareholdings in such companies.Most Read from BloombergTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Secretive Chip Startup May Help Huawei Circumvent US SanctionsMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialNord Stream Leaks Caused by Detonations in Sign of SabotageMass Shooting in Thailand Leaves 38 Dead, Most
Retirees are confused about enrolling in Medicare, according to a 2022 survey from Sage Growth Partners and Healthpilot. Notably, 33% of respondents have a financial advisor, but only 2% use that advisor to help plan their selection. Understanding Medicare can … Continue reading → The post Retirees Are Confused About Medicare. Here's How Financial Advisors Can Help appeared first on SmartAsset Blog.
Amazon.com, Inc (NASDAQ: AMZN) prepared to hire 150,000 employees throughout the U.S. in full-time, seasonal, and part-time roles across its operations network. The number of hiring remains intact compared to 2021. A diverse range of roles, from packing and picking to sorting and shipping, are available to applicants from all backgrounds and experience levels. Employees can earn, on average, more than $19 per hour based on position and location in the U.S. Also Read: Walmart Strategically Times
(Bloomberg) — In the stock market contest this year between the two biggest US companies, Microsoft Corp. has been no match for Apple Inc. With consumer spending under threat from a possible recession, some analysts are betting that performance is about to turn around.Most Read from BloombergMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.Loretta Lynn, Coal Miner's Daughter And Country Queen, DiesStocks
U.S. legislation that could open members of oil producing group OPEC+ to antitrust lawsuits has emerged as a possible tool to tackle high fuel prices, after the body said it would slash production despite lobbying by the Biden administration. The No Oil Producing and Exporting Cartels (NOPEC) bill, which passed a Senate committee 17-4 on May 5, is intended to protect U.S. consumers and businesses from engineered oil spikes. OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, on Wednesday agreed steep production cuts, curbing supply in an already tight market.
Saudi Arabia joined the small club of issuers that have borrowed for 100 years from investors, with its sovereign-wealth fund selling the ultralong debt as part of a $3 billion bond-market debut.
A key panel on Wednesday recommended that the Organization of the Petroleum Exporting Countries and its allies cut oil production by 2 million barrels a day, according to news reports. The recommendation by the Joint Ministerial Monitoring Committee comes ahead of a meeting of OPEC+ delegates in Vienna that's slated to begin shortly. Expectations for a cut of around 2 million barrels a day have helped lift crude futures this week. West Texas Intermediate crude for November delivery on the New Yo
Morgan Stanley analyst Adam Jonas raised his call on Ford's shares to Overweight and lowered his target for General Motors' stock price.
About Author
