Im Chris Colburn roland welcome and as you might know yourself real gender equality is about far more than money its also about recognition equality appreciation we have made some progress womens rights have advanced throughout the decades but my colleague. Says there is still a lot of room for improvement. Rather much of the mean that within those they send i love it may be hard to believe but in west germany in the 1960 s. Married women couldnt get a job without their husbands permission nor will they open a bank account of my christmas the importing young must have a bit i guess he knows maybe over it all but equal rights are often still lacking in germany when it comes to money combining at what is. Seemingly always now the mortal. Letting us john lets start slowly just as you want on average 17 percent less pocket money than boys men lost their passion my logic is why on earth should this be the case its going to parents think girls cant manage their assets. No. And i mean that i would add and later women often have lower paid jobs than men its worse than and women tend to be more cautious when it comes to investing their money but i support him not even men are more likely to buy stocks and shares and was therefore just women less you know so theres no let me. Get in there is no women who have children can also lose out financially by the soviet union let me that reconciling career and family is still really difficult to support and i would im all inclusive and work in the household is of course a labor of love was and then the park of a hot seat and its done for free. Let us say one other not that i thought i was a woman to pay the price for injuring inequality in germany only half the i dont the amount population what the other half contribute nothing or very little into a pension fund when women here get on average just half the pension men to attain in old age is a risk or a reality for way too many i think when less than 50 years ago i remember the lives of women in germany now we women are legally free but we still have a way to go to really overcome financial inequality between the sexes. Now as my colleague just mentioned an increasing number of women are facing a growing social problem poverty in all their age some having to get by on a dangerously low pension is already a harsh reality also here in germany my colleague met a retiree 5 whose budget is so tight that even treating herself to an ice cream as big financial consequence. Point to what i have left is 5 euros 60. Or 560 per day yes and if my t. V. Breaks down im done for my washing machine breaks im done for thats life always going out for coffee or something you know no we dont need that we dont exist any more human and no one talks about us. This is the smallest amount of money that has had in our lifetime pension isnt enough to live on Social Security covers a rent after other fixed costs like electricity and medicine shes left with 5. 00 euros 60 per day to pay for food cleaning products repairs and everything else. You cry as it is priceless these prices would i cant say to myself today im going to buy this or that no i really have to look out for bargains is this comes to just one vandals of a flat when did you last go shopping apart from food for clothes for example not at all of the last time shopping probably 2530 years ago. She swaps or clothing and saves up all year to buy presents for her grandchildren. Although its quite a challenge right now one just all you get used to it was i think over the years ive gotten pretty good at saving and finding the best deals in the Search Engine off youll. Get your raise 2 children and was a housewife after that she worked at an archive it was only then that she started paying into the pension system. By and sponsorship i worked for 22 or 23 years or dom so today you know what i tell myself is i didnt work all that long i didnt pay into the system all that long knowledge so shut up be happy with what you have just so solid quad talk socialising i dont have money for that as theres lots of things on offer but everything costs money is as much. As a share your excluded from society yes excluded from society. Law. The video says this is it important for you not to let people see how little money you have to figure out how 0 wish very important the dish dishes the most important why the well my Children Health and so on. But no oh well its nobodys business. The voice you know you need to earn admiration pity you get for free i dont want that for you. Thats just what do you miss the most. When im walking on the street and i see people eating ice cream you can imagine how much id love to sit there and have 2 scoops with fruit in some cream but now i count. Myself in that you have to be inventive and thats how you can make life more bearable as well especially if you have a sense of humor and i do believe i have one. Yes you do even if its just gallows humor horrible accu are slots all the while. Now finding yourself in a situation where you cant even allow yourself an afternoon snack of something im sure we all want to avoid no matter what gender my colleague don you know speed is very aware of the problems her gender faces in retirement so she decided to get a grip on her finances at an early stage in her career and got some advice and a financial mentoring geared towards women. On them yeah im in my mid thirties and im starting to worry when i have enough money for the future will i be able to afford things like this when i retired. In 201742 percent of retired women in germany go to state pension of less than 600. 00 euro some months. To subsistence minimum the 735 years. On average women in germany get smaller pensions than men they tend to have gaps in their birthing lives and they pay less into the state pension fund. They wouldnt even cover my rent ive signed up for private pension plan but even that wont be enough so its time for some change. I dont think is. Kind of money i can get in mexico i can do that now like i like have savings to for my retirement i dont know yet what im going to do about it i have to figure it out but right now its like. I dont know much of them was in charge of finances and your family and so it was i would also tell you its actually both of us though im more involved with a guy that was important to me he could not be so im aware how quickly life can change and i situation can get suddenly critical and for a woman and shes totally stuck. In a recent survey it suggests only a 3rd of women in germany plan ahead for old age. I really want to get a grip on my finances i have started to knock down every cent i spend theres an app for that. When i get home i transfer all the figures into a spreadsheet so i have an overview. Now i can tell you how much i can put aside for emergencies for example if my scooter breaks. But what am i going to do with the money thats left over. I turn to the internet for advice on facebook or find a group called madame moneypenny which helps women secure Financial Independence and has 40000 members men arent allowed to join. So it. Is managed by multinational beginning she also makes podcasts and runs a mentoring program to teach women about managing their finances and building up some capital. For podcasts have been downloaded more than a 1000000 times. And was. I asked her why she thinks so many women struggle with these issues. As well as a hold over money is a mom thing money is dirty and having lots of money means you egotistical deserve to have money to be prosperous these are some of the things women often say. And hearing them again and again shapes the way you think about money. Things. And then theres the nation that girls arent good with numbers. System so theres a kind of downward spiral i think thats why many women leave Money Matters to all those done with school. Im resolved to take charge of my finances myself. I asked not to should be given how she would invest a 1000 euros in her answer 10 percent she would donate to a charity 10 percent invest in herself by say taking her from a Training Course 30 percent she would invest in emerging market shares and 50 percent in stocks in developed countries but why such an emphasis on stocks rather than of a. Exchange the market doesnt care if youre male or female what color your skin is. Thats why i really like this kind of investment all that matters is getting it right lots of stuff to shuttle mission. A study by u s s of miniature fidel and she found that women perform better than men fight 0. 4 percent it may appear to be a minor difference but can have a Significant Impact over time so im going to invest about a 5th of my net income in stocks. As a journalist i often go abroad and ive been wondering if the women in other countries are also hesitant to take charge of their finances. Stephanie oconnell is on the mission to help them vicious women feel as confident with their money as they do in their careers you know i just go with the United States. You know 1st signing on. Match money and build wealth is still a relative concept. Im back to the best time to man to my retirement just as my grandmother used to say money does make you happy can give you peace of mind. And you know its grandmother sounds like a wise woman so why do so many women often have so much less Financial Support in old age than men we broke it down for you. Why do women earn less. Its not a myth womens wages remain low while mens climb higher and higher this is a in germany she earns 21 percent less than a man and she has far less chance of obtaining a company car but where does the difference come from lets look back a couple of decades. In the wake of the 2nd world war in germany there was a shortage of men and women had to take on hard work their fight for just wages was particularly reviled women demanded equal pay and they were successful. Then came the bitch the economic miracle the traditional gender roles returned with a vengeance. In west germany at least they have a could remain a housewife and stay home to take care of the kitchen the kids and her husband. Both socially and legally men were seen as the only breadwinners this role division continued for decades and it continues to affect employment today. Eva chose a typical womens job working in a Human Resources department. Careers in i. T. The Natural Sciences and high tech didnt interest her. The problem is typical womens work is paid less nurses and caregivers often earn less than a Truck Mechanic for example for in addition eva interrupted her career to raise a family and later worked only half days shed never sit in the bosss chair. A vicious circle. As it stands now researchers say evil would have to work almost another 170 years before she finally earns as much as a man equal pay in germany wouldnt become a reality until the year 2187. There are leaders who are working to change this dire prospect trying to build a more diverse and just world among them. Shes the director of the Human Resources department at the International Monetary fund a washington correspondent Helen Humphrey so down to talk with her everywhere you look all of the time people are trying to make more of it im talking about money profits while leaders want to boast about Economic Growth but it turns out quite a lot of countries are missing a trick on that you into a secret when it comes to Economic Growth empowering women to do the jobs they want to do in society means youll make a far lot more cash far quicker and you dont just have to take my word for it that is the assessment of the International Monetary fund here in washington d. C. Im here to meet kalponik culture she is needing the push for gender and diversity here to find out what countries should be doing to capitalize on a sure fire way to grow capital. When we talk about womens empowerment in the workforce of course were talking about equal opportunities were talking about lets face it human rights but to a certain extent are we just talking about money this is about growth too isnt it we believe that talent is distributed equally between men and women inherently and putting artificial barriers on half of your population. Means that youre not getting the best talent into the workforce and that has an impact of productivity that has an impact on profits and ultimately that has an impact on income and the numbers are quite startling they range from about 5 to 10 percent even in advanced countries like the u. S. Or western europe 2 very large numbers ranging to 35 percent in kind some countries in the middle east and south asia so these are not trivial amounts of money and one of the main barrys that youre specifically seeing here at the i. M. F. Across the world they start inequalities of opportunities in at birth in many countries as you know. Theres sex selection even before the child is born assuming that they are born there is in the qualities of opportunity and in health and in Education Access to finance this could be through differences and how much access you have to Property Ownership of property inheritance and all the countries that keep you awake at night for example with practiced it just isnt going to get women where they need to be not just for women but for the health of the Global Economy yeah there are many reasons to to stay awake at night let me let me raise india as one example where. Female Labor Force Participation is low. But what stands out is actually has been declining over the last few years this stands in contrast to many countries say in latin america where a few min of a force participation was low but over the last 10 years its made significant gains all right so lets talk about the International Monetary fund itself then you are the boss of Human Resources at the head of this organization of course Christine Legarde also a woman but what about throughout the organization is it 5050 between men and women 5050 is actually where we are right now institution wide at the leadership level but were making really Good Progress im very happy to say that right now we have exceeded the target that we set for 2024 women in leadership positions that target was 30 percent and we have exceeded. Codice selfproclaimed or said by regulators thats what an awesome takes nowadays to help women break through the Glass Ceiling however there are places in the world that are under 100 percent female leadership like in west sumatra which is home of the ethnic group women call the shots there lets take a look at the largest metro lineal society in the world. Shes the boss. So is she. And so is she. Among the mean and care about people of sumatra the women are in charge but im wondering what. About women are strong because theyre not tradition and culture they hold a strategic position but know one of the leaders the moral guardians that the pillars on the foundation for the women have authority. What makes this matriarchy even more unusual is that its in a country where the majority of the population is muslim and the power the women hold isnt just symbolic unlike most traditional communities around the world class sons inherit from their fathers here it all goes to the women are born inside there. Its the woman who owns everything. She owns the house the property the fish poems the rice fields. Everything really really advise me to sit on my thumb at the bottom one. Is one of 2 and a half 1000000 women and she lives on the island of sumatra where she produces the most expensive coffee in the world. Most of it coffee beans come from coffee cherries that have been eaten and def equated by the asian palm civet its a highly specialized product and popular all over the world. So i also bought another yeah i actually started this business on my own without help from anyone not the government or anybody else so. I started my separate coffee production from 0. To 2 x. Above the. The law. I just thought if other people can do it why cant i. Thats my motto thats why ive survived in the civic Coffee Business to this day. Business. Its typically dominated by men. Who move is the only daughter in the family so she inherited the house and fields she employs foremost from all over the region and determines the prices herself passed down from one generation of women to the next the 1st thailand of western sumatra has been a source of wealth for the people for centuries. Young. Men hold young. I think theres a lot to learn from our women. From their selfreliance. From their respect for other women. And from their independence. When mean and care about couples marry the man moves into the wifes house and whats in her feels most men come from other families in the village and his opinion about inheritance is divided. From the guy at the embassy for i havent really thought about marriage yet. Thats still a long way off for me when you. Are going to say michael would have to go i think we should respect the traditions inheritance should go to the daughter where im. Going to see everything i think he has regular he men should be leaders they should be a man. But in our culture its the women who have the privilege and thats not right if you. Can get religion says it should be the men who lead because women need to be protected thats their privilege and make them up anything thats the way it should be im not the only person with this opinion you can see out there. As i am. Through putting. I often get into conflict about this with my family. Were going to do our own theres a woman in my family who says men have no rights. Its not that i have no rights we have duties in the months just the inheritance that only goes to the woman. I mean i dont care about certainly safe from the threat of male dominance the women are in control they have economic power and authority because of what they own. Dreams of having a daughter. I gave birth to 3 songs. Fair enough it might take some time until the world has adopted the matriarchal approach until then heres a call to political and Company Leaders how about providing proper daycare for kids so that mothers dont have to worry anymore about whether they are neglecting either their child or their career a long overdue step and the work. Thats our show for this week for me and the entire team here at d w made thanks for watching. Sure of. What unites. What divides. The man looks like a trojan horse. What binds the content together good answers and stories of plenty good. Spotlight on people. And some. 30 minutes on d w. D to know that 77 percent. Are younger than 65. Thats me and me and you. And you know what its time all voices. On the 77 percent to talk about the issues. This is where you cut. The 77 percent this weekend on d w. Every day comes for us and for our planet. The ideas is on its way to bring you more conservation law how do we make cities streamer how can we protect animals and their habitats what to do with all our waste we can make a difference by choosing reforestation overdue forestation recycling over disposable Smart New Solutions oberstein said you know what a sudden is truly unique and we know that the uniqueness. What allows us to live and survive good why do you oppose the Environmental Issues to global 3000 on t w im going. To secret this classic. Music for sound. Or the story behind the music. Or need to register. Last. May 2 things night. For the more old stories of people night on t. W. This is the dublin years line from world wide Coronavirus Infections climb towards a 1000000 worst hit is the United States which has just posted a record single day death toll the president warms every 15 days ahead also on the program. 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