Ep 196: How To Successfully Take A Career Break

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 15 January 2020

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jean talks to Stacey Delo and Jennifer Gefsky, co-authors of “Your Turn: Careers, Kids and Comebacks — A Working Mother’s Guide.” They run Apres, a digital career platform for women who are returning to the workforce. They discuss what it means to step out of the workforce, how to weigh the expense of daycare against your salary, and how to determine what you might be losing out on in terms of salary and retirement savings if you take a break. In mailbag, financial advisors, HSA contributions, and investment options. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:07.0	Arm yourself with the information and go to your employer with a solid case of why it's going to work for the employer. And we see a lot of women not quite
0:15.1	doing that. It's sort of what I need, what I want, and frankly that kind of falls flat
0:19.3	with employers. Her money is brought to you by Fidelity Investments. We want you to feel confident about investing so that you can make your money work just as hard as you do.
0:34.8	Learn the ropes without the jargon at fidelity.com slash demand more.
0:40.2	Her money comes to you through PRX. Hey everybody. Thank you so much for joining me on today's podcast. We are talking, taking
0:59.9	breaks, breaks of the career variety.
1:03.6	According to the Harvard Business Review, 43% of women with kids
1:07.8	leave their careers or take a career break at some point.
1:11.7	And about a quarter of all women duck out of the workforce at one
1:15.9	time or another to care for an aging parent and while those experiences can be
1:21.9	amazing and many of us wouldn't have it any other way.
1:26.4	We do often pay a substantial price.
1:29.8	Our time out of the workforce reduces our earning power substantially by an average of 18%.
1:36.9	That number goes up to 37% when our breaks last three years or more
1:43.2	and those numbers are from the Harvard Business Review.
1:46.8	So how do we manage both?
1:48.9	How do we manage, if not having it all,
1:52.2	then at least having the things that we want most,
1:55.4	potentially when we want them, and doing it in a way so that we don't feel off the
2:02.0	rails as far as our careers are concerned.
2:05.0	I am thrilled to be joined today in the studio by two women who have many of the answers.
	...

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