By Dorian Martin, I Start Wondering Founder
2024 has been a year that we won’t soon forget, although some of us may have reasons to want to. For me, it’s been a year of challenges, breakthroughs, and personal milestones – and at times, unexpectedly shifting direction. I assume this is true for our I Start Wondering followers as well.
Speaking of sudden changes, this column was initially supposed to be a podcast between two of our team—Brenda Riojas and Jenni de Jong—who have recently become grandmothers. However, some personal issues emerged that required the recording of the podcast to be postponed until the new year.
So that’s brought me back to the table to try to bring closure to this year. Here goes….
As Women
The year 2024 will go down as one that had breakthroughs for older women, but also tests. I’m breaking them down into three categories: our voice, our health, and our finances.
Missing Women’s Voices at the Tables of Power
Women traditionally have not held the prime seat at tables of power—and that hasn’t changed a lot. Although the number of countries worldwide that have had women leaders has risen steadily since 1990, the Pew Research Center reported in early October 2024 that women currently serve as the head of government in only 13 of the 193 member states of the United Nations. Additionally, only 31% of the nations that make up the UN membership have had a woman serve as head of government at some point in their nation’s history.Â
In the United States, women are still missing in power roles. The Pew Research Center noted in 2023, women held less than 30 percent of the U.S. Senate seats as well as the U.S. House of Representative seats. At the state level, women had just crossed over the 30% mark in holding elected positions in state legislatures as well as the governor’s role. However, women did make up 48% of the U.S. Cabinet positions—the most ever in U.S. history--during President Joe Biden’s administration.
The Pew Research Center also showed a slowly growing trend from 1995-2023 in women serving as Fortune 500 CEOS. Still, as of 2023, women held only 10.6% of these roles. There has been a larger increase in the number of women serving as board members for these companies with 30.4% (the most ever) being women, as of 2022.
Increasing Focus on Women’s Health
Policymakers and researchers are finally taking note of the significant differences between women’s and men’s health. Traditionally, women’s health issues were generalized from research that only focused on male participants. That’s problematic on so many levels—body composition, hormonal levels, prevalence of certain conditions in women, women’s greater longevity—so having more focus on our needs is critical. As we noted in a recent ISW post, a new website specifically focuses on research on women’s health issues, which can help us get clearer about our choices.
Potential for Increasing Women’s
The World Economic Forum reported in early June 2024 that women are poised to fundamentally reshape the financial services and investment landscape as both investors and key team members in financial institutions. The study’s authors reported that an estimated $700 billion could be unlocked by financial investors who focused on finding better ways to serve women as investors. Additionally, evidence suggests that women are better investors and women who are working at financial firms generally make better investment decisions that lead to higher returns.
Need to Close the Financial Gender Gap at the Individual LevelÂ
However, that same report noted that individually, women do not create wealth at the same rates as men. For example, the Organisation for Economic Co-operation and Development reported that women receive 26% less income than men from the pension system.Â
This is just one snapshot of the year that doesn’t include all the multiple other factors that play into our lives. With that said, having a voice at the table, health, and financial resources are three key components in the equation of every older woman’s life.Â
On a Personal Level
Much of this can’t be changed quickly at the macro level but carefully considering individual decisions at the micro-level can help us more fully grasp the helm of our own lives. Additionally, through really contemplating these choices, we can see where we are succeeding and where we might be sabotaging ourselves.
As we move into 2025, I invite you to sit with some questions:
Where do I need to put more attention on my own life to create the best life?Â
Is there a place in my life’s foundation that is structurally weak? What do I need to do to fix that area?
How am I using my voice to communicate my needs?
How am I using my voice to advocate for others?
How am I supporting my overall physical, mental and emotional health?
How am I investing in my financial health?
I Start Wondering believes that this time of life – often referred to as our third chapter – can be a rich time of growth. I personally have found that cultivating this mindset of growth requires getting off automatic pilot, exploring my old stories and patterns, releasing what no longer works for me, and then opening up to learning more and exploring new sources and resources. I’m grateful that our I Start Wondering team and many in our community feel the same way.
Our team looks forward to being back with you in 2025 with columns and podcasts on these topics and more.