In the “Women, Money and Power” study by Allianz, almost half the women surveyed responded that they “often” or “sometimes” fear losing all their money and becoming homeless. This fear permeated all income levels — a third of respondents who make $200,000 or more per year still reported that they were afraid of becoming bag ladies.
Women now comprise nearly half of the nation’s workers, and 70% of mothers with children under age 18 are in the labor force.1 In September 2014, the U.S. Census Bureau released national statistics on poverty and income, reporting that 16% of women live below the poverty line and that median earnings for women are only 78% of men’s earnings, a gap that has persisted for several years.
Max Richtman, President/CEO of the National Committee to Preserve Social Security and Medicare, and Rep Gwen Moore (WI-4) discuss Eleanor's Hope on the Mark Thompson Show, Sirius XM.
“My grandmother Eleanor was a champion of women’s rights and she knew that the hard work and family responsibilities of women too often go unrewarded. I believe that today she would be leading efforts to achieve income equality and parity in Social Security benefits, and she would seek to improve the financial security of women who leave the workforce to raise a family or care for their aging relatives.”
When I starting out in the world on my own in the late 1950s, there weren't many careers available to women. Our choices were mostly confined to waitress or office worker and, for the few who attended college, teacher or nurse.
Eleanor's Hope is a grassroots project to bring attention to the disparity in income and financial security between men and women and to train a new generation to fight for equality.
I would like to join you in supporting the Eleanor’s Hope initiative and to recognize the National Committee to Preserve Social Security and Medicare for everything that you do to advocate for the health and financial security of citizens across the country.
Right now, and possibly for the rest of her life, Jeannie Brown’s income depends on how long her severely disabled granddaughter lives.
The National Committee to Preserve Social Security and Medicare was joined by Congressional leaders and our allies in the fight for women’s rights in a media teleconference held on Thursday, October 9th. We launched our new project, “Eleanor’s Hope” named in honor of Eleanor Roosevelt, to mobilize women of all ages to advocate for income equality, income security and health protection for women.
Listen to the recording of the press call.
Read Dr. Dodd's testimony to Senate Finance Committee
“I am fifty years old and the 27 years I have been working have been a combination of full-time and part-time employment, with several years of no employment so that I could stay home with my baby. I am back to work full-time now but want to know how all of this will affect my Social Security benefit when I am retired?”
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