Gender Equality and Women’s Financial Freedom

March 8th marks International Women’s Day (IWD), a global celebration of women’s achievements and a call to action for advancing gender equality.

First celebrated in 1909, the theme for International Women’s Day 2025 is #AccelerateAction. It emphasizes the urgency of making progress toward gender equality. This theme encourages individuals, businesses, and communities to take meaningful steps toward gender equality and financial freedom for women,

In recent years, it’s become clear that women still hold only 14 percent of top executive roles. This highlights the need to raise awareness and push for change in society. Gender equality is more than a social issue—it’s an economic imperative. When workplaces champion equal pay, opportunities, and financial education for women, everyone benefits.

The Financial Gender Gap: Why It Matters

Despite progress, the gender gap in financial wellness remains a pressing issue in the workplace. According to Pew Research Center analysis, women earn 85 cents for every dollar earned by men in the United States. This pay gap impacts women’s ability to save for the future, invest, and build wealth over time. Moreover, women are more likely to take on caregiving roles, which often means fewer years in the workforce and reduced retirement savings.

Compounding this issue is the fact that women live longer than men on average, meaning they need more savings to maintain financial security throughout retirement. Yet, women are less likely to invest in high-growth financial opportunities, often prioritizing lower-risk options or avoiding investing altogether. These disparities highlight the need for workplaces to promote financial literacy and equitable pay structures.

“Addressing these challenges isn’t just about fairness—it’s about empowering women to achieve their full financial potential. Companies that champion gender equality are not only fostering a supportive environment but are also helping to close the financial gap that holds women back,” says Angelo Strazzera, Senior Vice President of Investments at David Lerner Associates Inc,.

Financial Wellness in the Workplace

Employers play a critical role in promoting financial wellness for women. By addressing gender inequality in the workplace, companies can help their female employees thrive financially and professionally.

Here are some ways organizations can lead the way:

1. Offer Transparent Pay Practices: Pay transparency ensures employees are paid fairly for their work, regardless of gender. Conducting regular pay audits can help companies identify and correct disparities.
2. Provide Financial Education Programs: Hosting workshops or providing resources on budgeting, investing, and retirement planning can empower women to make informed financial decisions.
3. Support Flexible Work Options: Offering remote work or flexible schedules can help women balance career and caregiving responsibilities without compromising their income or opportunities for advancement.
4. Invest in Women’s Leadership Development: Providing mentorship programs and leadership training can help women climb the career ladder, increasing their earning potential and financial independence.

When workplaces prioritize these initiatives, they foster an environment where women can achieve financial security while contributing to the organization’s overall success.

Taking Charge of Your Financial Future

While workplaces are responsible for supporting gender equality, women can also take proactive steps to secure their financial futures. Here are some strategies to consider:

• Invest in Financial Education: Understanding how to budget, save, and invest is essential. Take advantage of online courses, books, or workshops to boost your financial literacy.
• Negotiate Your Salary: Don’t shy away from advocating for yourself. Research your market value and confidently negotiate your salary to ensure you’re being paid what you’re worth.
• Prioritize Retirement Savings: Even if it’s a small amount, start saving for retirement as early as possible. Consider opening an individual retirement account (IRA) or contributing to your workplace’s 401(k) plan.
• Build an Emergency Fund: Set aside three to six months’ worth of living expenses in a savings account to prepare for unexpected financial challenges.
• Seek Professional Guidance: An investment counselor can help you create a personalized plan to achieve your financial goals, from paying off debt to building wealth.

By taking these steps, women can gain confidence in managing their finances and build a secure financial future, no matter what challenges come their way.

Celebrating Women’s Achievements on International Women’s Day

International Women’s Day is also an opportunity to celebrate the progress women have made in breaking barriers and achieving financial independence. From female entrepreneurs building successful businesses to women leading organizations at the highest levels, there are countless examples of women driving positive change.

This year, take a moment to honor the women in your life—whether it’s a mentor, coworker, or family member—who have inspired you with their resilience and determination. Share their stories, support their endeavors, and continue to advocate for a world where gender equality is the norm.

International Women’s Day 2025 reminds us that achieving financial wellness is closely tied to addressing gender equality. By breaking down barriers in the workplace, providing financial education, and empowering women to take charge of their finances, we can create a brighter, more equitable future for everyone.

At David Lerner Associates, we’re committed to helping women achieve their financial goals. Whether you’re looking to invest, save for retirement, or build a financial plan tailored to your needs, our experienced team of investment counselors is here to guide you every step of the way. Contact us today to start your journey toward financial security and independence.

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Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.