A study of why men’s wealth outweighs women’s, and a guide to evening the scales.
Bondi, a former director at Microsoft, cofounder of software and mortgage companies in California and mother of four, combines reams of disturbing labor and economic statistics with the acumen honed in her various leadership roles in this book-length call for financial equality. Though the author primarily speaks to women, her overarching theme applies to all: â€œCreating residual income from investment is the only way to wealth regardless of gender.” Bondi considers wealth a must for the emotional security and physical freedom it affords, and offers compelling arguments as to why women should heed her advice. Women now comprise the majority of college students, have higher GPAs across the board and a greater likelihood to complete graduate education within ten years of finishing college than their male counterparts. But they earn on average 76 cents for every dollar paid to men, dominate eight of the ten lowest-paying professions in the United States and experience a decrease in salary for every child they have that is exactly proportionate to the salary increase men obtain when venturing into parenthood. For these and many other reasons, Bondi argues that women must seek sources of income apart from their jobs and break the damaging cycle of financial dependency. Unfortunately, she writes, the three most common ways women obtain residual income–through an inheritance from a father or husband, divorce alimony or welfare–will â€œmake the modern, liberated woman’s stomach turn.” Better sources of residual income, Bondi says, come from investing in â€œreal estate or being part of a business that you only stop by occasionally to manage.” While those seeking explicit means to better their economic ends may be disappointed, Bondi outlines some realistic financial goals that individuals can tailor to their situations.
A powerful wake-up call for anyone hoping to retire with financial security.