'My generation failed you. Completely failed you,' said Ellevest CEO Sallie Krawcheck. 'We played the game the way it was laid out.'
the most powerful woman on Wall Street, launched Ellevest in 2016, which"uses an algorithm that accounts for gender differences related to women’s pay, career breaks, and lifespan." Unequal pay perpetuates a gender investing gap, she said.
The bottom line: We have to remember to take care of ourselves financially, Krawcheck said, and to take care of fellow women in the workplace too."My generation failed you. Completely failed you," she said."We played the game the way it was laid out." Step 1:"In order to invest, the thing you must do is pay off your credit card debt. That stuff is poisonous, it's toxic, it's expensive," said Krawcheck.In fact, the average annual percentage rate on credit cards by the end of March was at a record high of 17.67%, according to CreditCards.com, which does a
Again, women lag behind men when it comes to savings as well: 56% of women ages 18 to 34 have savings, compared to 70% of men, according to survey data from the. An emergency fund can help reduce your reliance on credit cards and other debt, which come with interest, when unexpected situations arise.
Of course, if the markets are weak, it's probably a good time to pay off loans instead. And in the end, if student loans weigh heavily on you, getting them off your plate sooner can provide priceless peace of mind.
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