Are Mothers Losing Income Equality When They Have Kids?

Request a FREE no obligation consultation: www.oxygenfinancial.net The pay gap between men and women is still not close to equal, but there are more signs when it comes to motherhood that the gap is widening even more. For example, one study showed that for women, incomes drop 30% after giving birth for the first time and never catch up. That’s according to a working paper by Henrik Kleven, Camille Landais and Jakob Egholt Sogaard published by the National Bureau of Economic Research in January 2018. The study used Danish administrative data from 1980-2013. (source: CNBC) Also called the “motherhood penalty,” women start falling behind men in terms of their rank and their probability of being promoted just after the birth of the first child, the researchers found. About a decade later, women’s earnings plateau around 20% below the level just before becoming a parent. (source: CNBC) So, is this motherhood penalty something that will continue, and just what can be done to ...

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Four Ways Your Kids Can Ruin Your Retirement

Retirement generally only happens one time in our life.  It is that transition period where we hope our work, parental, and personal responsibilities dissipate to the point where we only have to worry about ourselves.  It is a time in our lives where we don’t have to be on a time clock, don’t have to worry about checking e-mail, and there are no meetings that we have to be at on the schedule of someone else. Nobody really tells you what kinds of responsibilities come with having children until you actually have a child.  You work hard to raise your child the right way, and you hope one day that they will be a fully self-sufficient individual.  Your greatest fear may be your own children’s failure to launch.  Here are four ways your children can ruin your retirement: Their Debt Becomes Your Guilt Many parents believe it is their responsibility to make sure their child graduates college with no debt.  ...

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Why You WILL tell your child YES

Like many parents, I recently experienced the sadness and euphoria of sending our first child off to college.   As much as you can prepare yourself for that moment, it’s an incredibly bittersweet moment as you pull away from campus and see your child really start to begin life on their own.    These are the beginning moments where they make more decision on their own, handle their day to day affairs, and begin to take over the basic management of their finances. I’ve always considered myself to be a parent who would tell my child like is really is without any of the sugar coating.   It wasn’t long before my children realized my feelings on things including why participation trophies make no sense, why your chores in the house don’t deserve allowance, and that soon they will be responsible for their own financial future.  I am in the financial planning business, so you can imagine that money is a top of ...

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Financial Considerations For The First Marriage After 40

You almost gave up hope that you would meet Mr. Right.  Or maybe it is Ms. Right.  However fate struck lightning and you finally met the person that you are convinced you were meant to spend the rest of your life.    At some point, reality sets in as the wedding date gets closer and it starts to dawn on your that there may be real discussions that need to be had around money and financial goals.   Not something you typically discuss when you are enjoying fine dining, front row concerts, and swanky hotels on the beach. Remember, everybody has a financial story.  Especially the person that you are about to wed.   It is important to peel back the artichoke to better understand your partner’s attitudes and feelings around money and planning for overall financial goals.   Here are my five smart money move financial considerations for those that are getting married for the first time after 40. Should you get a ...

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