Comments on Matthew’s “Income Gap”

Matthew’s journal stated that there is a significant gap between male and female professionals. For the same position, women usually make less then men. With a relatively lower income, women tend to put less contribution to their 401K plan. Matthew also pointed out that large amounts of people who live in poverty are elderly women.

It is sad to see many elderly women live in poverty. How can we improve the situation? Government regulation should help elderly women get out of the poverty situation. For the other potential retirees, they need to realize that women tend to live longer and have more expenses than men, and they need to maximize their retirement savings decades before they retire. Women should also start investing more, just like men do. Women are generally more conservative and risk adverse, which means most women wound not invest their money on potential assets. That needs to change. Women can become wealthy if they do the right thing like men do.