Tag Archives: women and money

Women and Money, Gender Lens Investing, Part II

lensfunny

Let’s continue together on our journey to learn about this option of gender lens investing.

Investing through a lens is not a new concept. I first experienced it as a financial advisor when socially responsible investing became more popular. Some people are more driven by their social conscience than by the overall rate of return on an investment.  For them, using a “lens” or screening process of the companies in which they invest became the solution.

I see gender lens investing as an extension of socially responsible investing. So it helps to first understand the more established investment option called socially responsible investing.

A socially responsible investment is the result of screening publicly traded businesses based on certain criteria which seek both financial gain and social good or benefit.

Companies are evaluated and selected based on certain criteria. Some of the common criteria evaluated through the lens are:

  •  Support of sustainability of the environment through corporate policies and actions.
  •  Corporate commitment to workforce diversity in training and promotion   opportunities as well as to fair workplace practices.
  • Companies which avoid certain industries, such as those involved in weapons, alcohol, tobacco, pornography, and gambling.

I am writing a post for a blog. The intent is to keep it short and stick with the basics. If socially responsible investing interests you, please learn more through your financial advisor or by simply googling it on the web. There are now many companies offering socially responsible investing. Among them is a company called Pax World Funds. They are part of the story of gender lens investing and a partnership with an organization called Ellevate.  More next time!

Debra Hadsall

www.ffptalk.com

(This information is designed to educate you about basic financial management concepts. Questions relevant to personal finances specific to the individual should be address to an appropriate professional to ensure that the situation has been evaluated carefully and appropriately. The Authors and Publisher specifically disclaim any liability loss, or risk which is incurred as a consequence directly or indirectly from the use and application of any contents of this work.)

Before the Kardashians

logownedy

Today, while channel surfing, I was lucky enough to land on the HBO channel which was showing a documentary about Gloria Steinem.  Lucky because most of the attention on other channels was focused on current media favorites, the Kardashians.

I used to assume that most women know about Gloria Steinem, Ms. Magazine, Bella Abzug, and others in the women’s movement which gained momentum in the 1970s.  Whatever you may have felt, or still feel about this time of great change, the results of the efforts of Gloria Steinem and others around her have had a significant impact on the personal, professional, and financial lives of women.

Recently I have begun to wonder if the young women of today are being taught about powerful and successful women who have helped us to arrive at where we are today.  Have they heard the names of Gloria Steinem and Oprah Winfrey as often as they experience minute-by-minute reporting on the Kardashians?

Gloria Steinem is now in her late 70s and it is understandable that not all young women have studied much about her, yet.  However, I just assumed that everyone who is old enough to watch television or surf the internet would know about Oprah Winfrey.  Not true.  Recently I was visiting with a group of young women who are in high school.  I discovered they really don’t know who Oprah is, what she has accomplished, or even how rich she is.That is interesting since rich is usually something teens care about. This lack of awareness of Oprah was a big surprise.  Fortunately I have listened to Oprah’s story often enough to recite it to them.  After that, I started bringing a few copies of O Magazine so the students could learn more.  In another conversation, I discovered that each of them could immediately identify Kim Kardashian and knew all about the man in her life, Kanye West.  Major reality check for me!

It is exciting that the blogosphere allows the writer to reach out to people of many generations all over the world.  If you are reading this and find that you are clueless as to who Gloria Steinem is, or what she stands for, please just “google her” or even watch her story on HBO.  Perhaps you have only a passing understanding of Oprah Winfrey’s life and accomplishments. Once again, a quick google will teach you a lot. 

I am grateful we are no longer living in the times when Gloria and Oprah were starting out and leading their own special brand of change for women, but I do know it is important to understand the past to appreciate today!

Until next time.

Debra Hadsall

www.financialfreedomparty.com

www.ffptalk.com

The Power of Those Who Open Doors for Others

womenmoneyblog

I blog about women, money, and the Financial Freedom Party for Women.  Most of the time I write about basic financial information for topics such as life insurance, long-term care insurance, investing, wills, debt, goals, values,  and expense management.  There is an additional important topic which really is part of the foundation of our financial lives, income management.   Most of us need to make money to have money to manage and spend, right? Income management starts with income.

Making a living, or earning income, really means we trade our time and skills (or expertise) for money to buyers.  Explaining all the potential buyers would fill this page.  So, an example of a buyer is an employer in a business or organization.  As a business owner, a buyer could be an external customer who purchases goods or services.  The value of what we earn is directed mainly by the marketplace.  You know the term, supply and demand.  Sometimes earning income is also greatly affected by the attitudes and experiences of those who “buy” from us and the culture and norms of the business or organization.

It is estimated in the United States that women make 78 cents for every dollar earned by men.  This doesn’t mean the world of buyers owes us as women a better living, or that someone owes us more money.  It does mean that we have to be willing to advocate better for ourselves and to take some chances.  Once we gain a little success, we need to reach out and help others. When we open doors for others, we give them a chance to change their lives.

I recently learned that one of my “door openers” passed away.  His name was Roger and he had been an Air Force Officer and an Air Force Academy graduate.  These two experiences formed some of his attitudes, values, and his approach to life.

Our paths crossed when he selected me for a position as a civilian planner in a small command post.  I was not what the high-ranking officers had in mind when they created the position.  They were looking for a retired enlisted man.  I was a younger woman with no military service.  My credentials were great, but I was not the preferred type for the position.

Roger selected me based on my qualifications.  It was a challenge for him to select me.  After all, he had graduated from a class of all male Air Force Cadets.  It wasn’t until a few years later that women were allowed to attend the Air Force Academy.   As time went on he admitted that when he hired me he had some concerns for me and for our work unit.  We answered directly to the Commanding General.  The success or failure of our work was highly visible.  In the beginning I was told by one of my new bosses, also a high-ranking officer, that I was there in spite of his wishes. My normal welcome to the organization was not so welcoming.   I had gotten used to these things and just did my work.  We began passing inspections and getting high ratings on our headquarters reports for my area.  Over time the concerns about me as a woman in that position were no longer aired publicly. I became a respected part of the team.

When I left the position for a promotion, I was replaced by a very capable woman hired by Roger’s replacement.  She and I became close friends and remain so to this day.  I am talking about a 20+ year relationship.  Our careers progressed.  Some folks told the two of us that we were “fast burners”.   I was promoted three times into different positions . Of course promotions equate to more responsibility and more income. Eventually I left the federal government.  My friend stayed, earned promotions,  and went on to a prestigious position which involved her in many interesting assignments and projects throughout the city where we lived.

The legacy of Roger’s career is not about a stellar rise to the top in the military.  He found a better fit elsewhere for his interests, talents, abilities, and considerable brainpower. A new path and lifestyle resulted in a life with a different rhythm and purpose.  Among other things, he earned a Master’s Degree in Architecture and became involved in creative arts.   His legacy is, in part, about the door he opened for me, and then indirectly opened­­ for my friend.  He also led the way in showing those given the title of superiors and subordinates how to judge women and men on their qualifications and contributions, not on their sex.

I thank Roger for showing me that leadership isn’t about bossing people around.  It is about reaching out to others, helping them develop their talents, opening doors, and staying constant when it is easier to just give up and conform.  I think pay equity is more prevalent now for women in many career fields, but it took some men and women to help us along the way. I do not know if women will ever reach a time where we earn dollar for dollar for men.   I am confident it will continue to get better faster if more of us become “door openers”.

I strive to be a “door opener”.  It has become a natural part of my life.  Sometimes I succeed, sometimes I don’t.  However, I have gotten pretty brave about giving it a try.

Please reflect on your life. Are you opening doors for others?  Are you constant in your efforts?  Will your legacy include fond memories from those who enjoyed better lives personally and financially because you took a chance and acted?   As the 78% statistic changes and moves upwards, will you count yourself as part of the process?

Until next time

Debra Hadsall

logownedy (2)

www.financialfreedomparty.com