How do I protect my daughters from the ‘motherhood penalty’?
I’m a 49 -year -old woman who wished me to do some things. I have two beautiful daughters of 15 and 18 years of age I gave up to raise for about ten years. My job is not close to where I am in marketing and when I go. In addition, there were no career opportunities that I thought I would have otherwise. Thank goodness my husband is very good, but there is very little. My question is: If they decide to have children, how can I prevent my daughters from damaging so much financial (and professionally)? Kathy
Kathy is known as a mother’s punishment. 2023 Treasury Certificate Children and gender gain gap In the first five years after being a parent, he saw that women’s earnings fell by 55 percent on average, and men remained unchanged.
Women typically have super balances lower than men, because they are more likely to quit their jobs to raise children.Credit: Simon Letch
According to the Australian Institute, it then creates a lifelong gains deficit of $ 1 million. And since retirement is based on earnings, it cooks until disadvantaged pension.
A 30-year-old woman with a median fee of about $ 75,000, if there is a paid job for a year (to work even more to raise a child), a loss of $ 23,700 compared to Australia’s Pension Funds Association.
But this is just One Year away from the labor force. In general, women who have retired in the last few years have done this with 25 percent less super balances than men.
Therefore, about protecting your daughters, you ask the right question at the right time (and there are solutions that I will return for you). The most beautiful thing about Super is an automatic access to everyone, a guaranteed way of reserve.
Both your daughter and your biggest earning potential are probably in front of you – use the super system to fully benefit.
Withdrawal transactions in your working life mean that you earn feedback from beautiful returns every year. And this makes a strong phenomenon: earliest The money you record is growing largest amount.
Now, minors can have super funds – you just set up one with a super administrator, then you have chosen the investment mixture of the fund – in general, the more young you are, you can get more investment risks and theoretically allocate to stocks.
