One critical aspect of the gender pay gap that hasn’t received enough attention, however, is the fact that women earn roughly 90 percent of what men are paid until they reach the age of 35. After that benchmark, the pay gap dramatically increases on average. It’s no coincidence that age tends to be when marriage and children are the focal point of women’s personal lives.
I was early in my formative years in the spring of 1985, although my palate for rock music was already well-defined. Having older teenage brothers has that effect. My most vivid music memory as a child was listening to Dire Straights’ “Walk of Life” over and over again on my Fisher Price turntable record player. The angst I felt in trying to position the brown center knob just right so it wouldn’t fall down while playing my collection of three 45-rpm records was replaced with masculine pride as I belted out verses about topics I knew nothing about.
What better way to kick off 2015 than with advice from investment wiz Warren Buffett?
In one excerpt of the Berkshire Hathaway CEO’s 2014 annual letter to shareholders, Buffett talked about focusing on the future productivity of your assets instead of the day-to-day fluctuations. People watch CNBC 24/7 and panic over one percent drops in the stock market, yet pay no mind to slight variances in their home prices. Why? Because most of us buy homes for extended periods of time and take out 30-year mortgages to do so. I’m not overly concerned with the valuation of my home today, as I have no plans to move for another 4-5 years. House price data is also not slammed in your face every evening on the local news.
That’s not the case, however, with the stock market. Every dip and rise is news worthy because so many attempt to time the market and attempt to make significant profits in short order. It doesn’t work, folks.