March brings Women's History Month and International Women's Day on the 8th, a time that holds significant meaning for many, particularly in advocating for Black women's rights.

In 2020, women around the globe suffered over 64 million job losses, totaling $800 billion in earnings, as reported by Oxfam International. Currently, 35% of American women who faced job loss during the pandemic remain unemployed, according to Resume Builder. However, for Black women, this figure rises to 46%. Moreover, Pew research highlights that those who can work from home are often from wealthier, predominantly white backgrounds.

Even prior to COVID-19, racial disparities created a significant gap between Black and white women in the workplace. While the overall gender wage gap stands at 82 cents for every dollar earned by men, Black women earn only 61 cents compared to their white male counterparts. These lower wages hinder their ability to save for retirement or accumulate wealth, with women of color facing a higher risk of poverty in their later years. A 2020 Pew Research report revealed that 61% of white households invest in the stock market via retirement accounts, contrasted with just 31% of Black households.

Such statistics are alarming, highlighting the urgent need for change. This week's discussion focuses on what specifically must shift for Black women in a post-pandemic landscape. As employers adapt, with an increasing number of women securing better salaries and flexible work environments, it's crucial that the recovery narrative includes Black women. They cannot be left behind. A 2019 study from the Center for Talent Innovation indicated that only 3.2% of executive and senior management roles are held by Black professionals, with less than 1% occupying Fortune 500 CEO positions.

Dr. Lakisha Simmons, the founder of The Wealthy AchieveHer, which empowers women through goal setting, leadership, and financial literacy, shares actionable steps to uplift Black women today. She emphasizes how to leverage the current transition in corporate America to increase the number of Black women in leadership roles, secure higher salaries, and build wealth.

Lakisha, a first-generation college graduate and FIRE coach, retired at 41 after investing over $900,000. She authored The Unlikely AchieveHer workbook and discusses essential financial knowledge often overlooked by many Black families. Together, we explore ways to address educational disparities and prompt swift change.

We also tackle salary negotiations, retirement discussions, and strategies to engage Black women in investing at levels comparable to typical white male investors.

In the Mailbag, we address the importance of reducing credit card debt prior to marriage, alongside savings goals for welcoming a new baby. In Thrive, we delve into the benefits of investing in art.