Not only can women not “have it all,” but they are born at an $849,000 lifetime disadvantage. They live longer, earn less, pay more for insurance, and take more time off from careers to care for children and aging parents. That’s how AOL’s Nicole Seghetti sees it.
Her breakdown goes something like this:
- Women live an average of five years longer than men, at a cost of $3,500 a month.
- A woman who takes two years off from a job paying $40,000 a year loses $80,000 immediately, plus the resulting hit to her savings, retirement plans, and Social Security.
- With a gender bias built into 90% of the nation’s best-selling health insurance plans, women pay an average of 30% more than men, for a total of $44,000 between college and Medicare.
- Women are paid an average of 77 cents for every dollar a man earns. In a 40-year career with a $40,000 salary, a woman will earn $400,000 less than a male counterpart.
- With their longer lifespans, women will also incur more expenses for long-term care and assisted living, totaling an estimated $125,000.
If you want to argue the math, with its many estimates, averages, and assumptions, you’ll have to contact Ms. Seghetti. I’m too depressed to discuss it. And if you haven’t read the Atlantic article I linked in the first sentence, don’t. Between that one (“Why Women Still Can’t Have It All”) and the AOL article, I’m thinking I never had a chance. I just didn’t know it.