Hartford Business Journal

www.HartfordBusiness.com • September 24, 2018 • Hartford Business Journal 11 FOCUS habits but rather due to income inequality between genders. The pay gap means that women typically only earn about 80 percent of what men do for the same work. And, women of color face an even wider pay discrepancy when com- pared to their counterparts. Pay disparity can be the largest contributing factor in saving for re- tirement between the sexes. Research shows women may ask less often, but are more tentative when negotiating for raises, whereas men may push harder for higher compensation. Many women may be the secondary breadwinners in the home, but it is imperative that the secondary bread- winner establishes her own credit and becomes completely familiar with fi- nancial issues that relate to each part- ner individually as well as together. To get started, one topic women should think about is tolerance for risk. A woman's tolerance for invest- ment risk may well differ from her spouse's and other female investors, particularly if she has taken time off from work to raise a family and therefore has not built up the same size 401(k) or other retirement funds as her husband. With the potential for less income, it becomes imperative that women plan carefully for their financial future and invest wisely. Regardless of where in life they are — in relationships or not, established in a career or not, mothers or not, women should define their values and goals for the milestones of their lives and for their financial aspirations. Valerie B. Dugan is a financial advisor with the Wealth Management Division of Morgan Stanley in Hartford. more than 13,000 last year, as well as great funding diversity for CWHF's operations. According to Lubarsky, the organization's $450,000 annual budget, which three years ago was driven nearly 60 percent by cor- porate support, has expanded giv- ing from founda- tions and indi- viduals, including a new fundraising effort, launched last year, aimed at men. The "A Few Good Men" campaign was championed by renowned Doonesbury comic strip cartoonist Gary Trudeau, after his wife, broadcast journalist Jane Pauley, who lives in Connecticut, was inducted into the Hall of Fame in 2016. Not only has the campaign helped create a new revenue stream for the Hall, Lubarsky said, but also has served to educate men about women's accom- plishments. "It's really important that boys and men understand the contributions that women have made in the state and are able to pass that down to their children," Lubarsky said. On Nov. 5, three new accom- plished women in the field of the arts — Anika Noni Rose, Tina Weymouth and Lucia Chase — will join the 118 already enshrined Hall of Fame members who hail from myriad fields including, sports, politics, business and entertainment. More than 800 people are ex- pected to attend the event. That success is a testament, Clon- an says, to the ac- tive participation of Connecticut citizens across the board over the past 25 years. While Clonan takes pride in the CWHF's history, she said she hopes for a day when the Hall won't be necessary. "That would symbolize that women are being acknowledged everywhere and they [wouldn't] need their own Hall of Fame," she said. Current and former business leader HOF inductees Beatrice Fox Auerbach, President of G. Fox and Co. Eileen Kraus, First woman to head a major regional financial institution (Connecticut National Bank) Anne M. Mulcahy, Former Chairman and visionary leader of Xerox Corp. Indra Nooyi, Chairman and CEO of PepsiCo. Martha Parsons, First female business executive in Connecticut to earn her position by merit (Landers, Frary & Clark) Margaret Fogarty Rudkin, Founder of Pepperidge Farm Lillian Vernon, Founded the first corporation by a woman to be publicly traded on the American Stock Exchange (Lillian Vernon Corp.) Maggie Wilderotter, Chairman and CEO of Frontier Communications IDENTIFYING OUTSTANDING LEADERS IN THE HEALTH CARE INDUSTRY Nominate your hero today: HartfordBusiness.com/OurEvents Click on "HealthCare Heroes" Nominate in the category: Corporate Achievement - Innovation Corporate Achievement - Healthiest Workplace Advancements in Healthcare - Innovation Advancements in Healthcare - Prevention Community Service - Advocacy/Policy Physician Nurse Healthcare Staff Volunteer DEADLINE: 10/9 For questions about this event please contact Lauren Stroud at 860-236-9998 x137 or by email, lstroud@ hartfordbusiness.com. PRESENTING SPONSOR: EXCLUSIVE MEDIA SPONSOR: EVENT SPONSORS:

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