Howdy, I’m Financial Femtor, a thirty-something woman living in a big, expensive city while catching up on retirement savings that I managed to neglect for almost two decades. I call myself a late bloomer since I started my career late, having pursued being an artist for many years. I pretty much ignored my finances until life smacked me in the face a couple of years ago and I woke up to the reality of the consumerist cycle most of us live: Work our butts off for 8 + hours a day at jobs we commute to, recover and try to have a life evenings and weekends, take a short vacation once or twice a year if we’re lucky and buy all kinds of shit all year round so that we continue to work our butts off 8+ hours a day etc. Anyway, I’ll get into the details of my wake-up call later but since that aha moment I’ve been focused on my goal of escaping this cycle by educating myself and a whole lotta hustle and hard work. Now I am on a mission to buy back my time and help others take control of their finances so we can all live our best lives motivated by our passions and not by paying bills.
What will you find on this website?
- Money-saving tips
- Clear and simple investing information
- Resources to help you on your money journey
- My experiences, successes and failures along the way to financial independence
I started this blog to track my journey to financial independence in the hope that others can join me and learn from my mistakes and successes. When I started educating myself on how to grow my wealth, the information wasn’t easily accessible or digestible. Finance books and articles are written in jargon, systems are set up so that investing information sounds complicated and daunting. It is not! I learn much better when things are broken down for me in clear directives and through listening to others’ stories. This is how I plan on sharing the information I have learned through my research and experience.
Why the focus on women?
Let’s not bury our heads in the sand or pretend that we don’t have staggering gender inequality even in 2020. I strongly believe that in order to succeed women need to support women. In wealth and finance specifically, women face some hidden (and not so hidden) economic challenges such as:
- Wage gap: As of 2019 Women earn 79 cents for every dollar a man earns. This is an average across all industries. Women doing the same employment as men still earn less, earning approximately 98 cents for every dollar a man earns. The disparity is even larger for women of color and LGBTQ folks!
- Affordable childcare and the responsibility of raising children: The lack of affordable childcare forces many women to work part-time or leave the workforce altogether. Women also have more interruptions in their careers which means less earnings, less experience and less retirement savings.
- Parental care: The numbers show that women tend to step into the care-giving role to family members such as parents and parents-in-law, even friends and other family members. In the USA, as of 2018, more than 60% of unpaid caregivers to friends and family were women.
- Women tend to outlive men and will need to support themselves through a longer retirement. Women will also more likely become the caregivers to their male spouses.
- Under-representation of women in high-income fields
Don’t take my word for it, do your own research! Here are some suggested online articles on the topic:
My goal is to empower and inspire women to take control of their finances and design the life they are passionate about living. Maybe all they need is a femtor to guide them in the right direction.
For the men who stumble upon this site, welcome! You will find useful information here as well.2020