Stacy Francis Quoted by CNBC on Coronavirus Impact on Women’s Financial Futures
By: Francis Financial
March 1, 2021
Francis Financial President and CEO Stacy Francis was quoted in an article for CNBC.com’s Invest in You: Ready. Set. Grow series for a March 2021 piece on how the coronavirus pandemic is affecting the financial stability of women.
The article focuses on how more than 2.3 million women have left the workforce since the start of the pandemic, escalating the already critical gender pay gap. Stacy Francis discusses how women are continuing to fall behind and what can be done about it.
According to Francis, a mindset change may be necessary. “We often see that women tend to be a little more conservative with investment portfolios than men,” she said. “Unfortunately that can put us further behind.”
The key is to start saving now, even if it is less than the recommended 15% – 20%. Francis says, “When the dust settles from Covid, we are going to see the numbers of debt loads being carried by women higher…we don’t see all the impact of Covid right now…We are going to see it in a year or so.”