The Rise of Women and Wealth by Cindy Couyoumjian

Author:Cindy Couyoumjian
Language: eng
Format: epub
ISBN: 9781626349445
Publisher: Greenleaf Book Group Press
Published: 2022-09-15T00:00:00+00:00

These hidden forces are not merely abstract concepts; they have a direct impact on your financial future. For example, the Social Security system that our parents and grandparents enjoyed may become insolvent if Congress fails to enact reforms. The pensions that past generations have relied upon to carry them through retirement are becoming extinct. Consider this: “The practice of companies sending monthly retirement checks to their former workers is headed for extinction, and remaining pension funds are in tough financial shape.”5 Despite the fact that there are hidden forces that seem to be out of our control, there is something you can do about them. If you broaden your understanding of these hidden forces, you could be in a position to better prepare and plan for your retirement. One of the hidden forces I’ve mentioned earlier is historical. You might remember taking history classes in high school and asking yourself, “Who needs history?”

What you must realize is that a meaningful understanding of the financial world must include its history. History is not just some abstract and pedantic study that is removed from our lives. It affects us in ways that impact how we plan our future. As the saying goes, “Those who cannot learn from history are doomed to repeat it.” As recent history has shown us, this is precisely what has happened over the past century.6 But we don’t have to acquiesce to the inevitable; we can use the knowledge of past events to shape our own future. This is especially true for women, who now hold more than half of the personal wealth in the United States.7 What we choose to do will depend on our capacity to think critically about the decisions and choices that came before us. For example, let’s look at the Gilded Age and our failure to learn from the systemic inequality that resulted from greed and corruption.

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