inevitably sea levels rise by at least one meter in a century it's really frightening. why aren't people more concerned. julia. start to move through 1st on g.w. . it is the year 2019 we're sending money around the world while phones are talking about autonomy as flying taxis were taking pictures of black holes in space and still a woman makes less money working in the same job as a man we need to talk about that mind the gap that's our topic this week on made

i'm chris colburn berlin welcome and as you might know yourself real gender equality is about far more than money it's also about recognition equality appreciation we have made some progress women's rights have advanced throughout the decades of my colleague. says there is still a lot of room for improvement. well for much of the employed mean that within the us a sense that it may be hard to believe but in west germany in the 1960 s. married women couldn't get a job without their husband's permission nor will they open a bank account of my biggest most important possible but i suppose maybe over the sequel rights are often still lacking in germany when it comes to money combining and what is the. single most other mortal. lesson yes china starts early on average 17

percent less pocket money than boys in domain lost their passion my magic is why on earth should this be the case it's going to parents think girls can't manage their assets so the. canvas you know. then will that i would i'll let and later women often have lower paid jobs than men it's worse than and women tend to be more cautious when it comes to investing their money. in men are more likely to buy stocks and shares and was therefore just women less or you know so that's not i mean i've seen as. you know women who have children can also lose out financially in the soviet union levy that level reconciling career and family is still really difficult to support i would add or. and work in the household is of course a labor of love and then the bark of a hot seat and it's done for free to.

let us know whether or not that i want a woman to pay the price for ensuring inequality in germany only half the i don't the amount population work the other half contribute nothing or very little into a pension fund that even the women here get on average just half the pension men do is offer to me in old age is a risk or reality for way too many. i think one less than 50 years ago i remember the lives of women in germany now we women and legally free us that we still have a way to go to really overcome financial inequality between the sexes the one that . now as my colleague just mentioned an increasing number of women are facing a growing social problem poverty and all the rage some having to get by on a dangerously low pension is already a harsh reality also here in germany my colleague chiodos met a retiree who is budget is so tight that even treating herself to an ice cream has

big financial consequence. or porter what i have left is a 5 euros 60. or the $560.00 per day well yes and if my t.v. breaks down and i'm done for if my washing machine breaks i'm done for that's life always going out for coffee or something no no we don't need that we don't exist anymore. really no one talks about us. this is the smallest amount of money that has had in our lifetime pension isn't enough to live on social security covers a rent after other fixed costs like electricity and medicine she's left with $5.00 euros 60 per day to pay for food cleaning products repairs and everything else.

reply as it is priceless is price stylish would i can't say to myself today i'm going to buy this or that no i really have to look out for bargains is misconstrues is one vandeven is worth let some when did you last goes shopping apart from food for clothes for example not at all of the last time shopping probably 2530 years ago. she swaps her clothing and saves up all year to buy presents for her grandchildren. although it's quite a challenge right now just all you get used to it was i think over the years i've gotten pretty good at saving and finding the best deals with his attention off. it you raised 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. sponsorship i worked for

22 or 23 years or. so today not what i tell myself is i didn't work all that long i didn't pay into the system all that long so shut up be happy with what you have. so it's eloquent socialising i don't have money for that so there's lots of things on offer but everything costs money. as a show you are excluded from society yes excluded from society. the viciousness is it important for you not to let people see how little money you have . 0 very important the dish dishes the most important why the well my children health and so on. but no. that's nobody's business.

but when you know you need to earn admiration pity you get for free i don't want that for you. but what do you miss the most. when i'm walking on the street and i see people eating ice cream you can imagine how much i'd love to sit there and have 2 scoops with fruit and some cream but now i can't. let myself in that you have to be inventive and that's 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 it's just gallows humor horrible accu are slots all the while. now finding yourself in a situation where you can't even allow yourself an afternoon snack of something i'm sure we all want to avoid no matter what gender my colleague daniel spade 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 i'm in my mid thirty's and i'm 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 $735.00 euros 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. that

wouldn't even cover my rent i've signed up for a private pension plan but even that won't be you know so it's time for some change . i don't think it is. kind of money i can get in mexico i can do that now like i have savings to for my retirement i don't know yet what i'm going to do about it i have to figure it out but right now there's like. i don't know much i said was in charge of finances and your family and so it was i would all fit it's actually both of us though i'm more involved but for me that was important for me to click up base and i'm aware how quickly life can change and a situation can get suddenly critical and for a woman and she's 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 there's 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 down. but what am i going to do with the money that's 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 man aren't allowed to join. so it. is managed by montage should be given she also makes parker and runs a mentoring program to teach him in the back managing their finances and building up some capital. for part casts have been downloaded more than a 1000000 times. i asked her why

she thinks so many women struggle with these issues. as well as a hold over money as a mom thing money is dirty having lots of money means you're egotistical desire 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. thank you. and then there's the notion that girls aren't good with numbers. there's a kind of downward spiral i think that's why many women leave money matters to others a little as full of. i'm resolved to take charge of my finances myself and 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 the best say taking it 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 s. a process with this look exchanged the market doesn't care if you're male or female what color your skin is. that's why i really like this kind of investment all that matters is getting it right. a study by u s s of manager 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 i'm going to invest about a 5th of my net income in stocks. as a journalist i often go abroad and often wondering if the women in other countries are also hesitant to take charge of their finances. stephanie o'connell is on a mission to help them vicious women feel as confident with their money as they do in their careers you know a generation ago in the united states a woman. with you know her 1st. woman be able

to balance her own money and build wealth is still a relatively new concept for us. i'm that the best time to and from my retirement just as my grandmother used to say money does make you happy i can give you a piece of mind. wow . and you know it's 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. it's not a myth women's wages remain low while men's climb higher and higher. 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 let's 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 loud women demanded equal pay and they were successful. then came the bitch off the economic miracle the traditional gender roles returned with a vengeance. in west germany at least favorite 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. favorite shows a typical women's job working in a human resources department. careers in i.t.

the natural sciences and high tech didn't interest her. the problem is typical women's 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 she never sit in the boss's 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 wouldn't 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. she's 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 i'm talking about money profits while the leaders want to boast about economic growth but it turns out quite a lot of countries are missing a trick and that you into a secret when it comes to economic growth empowering women to do the jobs they want to do in society means you'll make a far lot more cash far quicker and you don't just have to take my word for it that is the assessment of the international monetary fund here in washington d.c. i'm 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 women's empowerment in the workforce of course we're talking about equal opportunities we're talking about let's face it human rights but to a certain extent all we're just talking about money this is about growth too isn't it we believe that talent is distributed equally between men and women inherently and putting artificial barriers on half of your population. means that you're 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 in south asia so these are not trivial amounts of money and one of the main barrys that you're 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. there's sex selection even before the child is born assuming that they are born there is any inequalities of opportunity 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 practice that just isn't 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 and i let me let me raise india as one example where. the 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 of latin america where a few men they were forced participation was low but over the last 10 years it's made significant gains or i say let's 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 we're making really good progress i'm 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 self-proclaimed or said by regulators that's what it often 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 let's take a look at the largest metro lineal society in the world. she's the boss. so is she. and so is she. among the mean and kaberle people of sumatra the women are in charge but i'm wondering what. about women are strong because in our tradition and culture they hold a strategic position but now while the leaders the moral guardians that the pillars on the foundation the women have all 30 or 40 what makes this matriarchy even more unusual is that it's in a country where the majority of the population is muslim and the power the women

hold isn't just symbolic unlike most traditional communities around the world by sons inherit from their fathers here it all goes to the women are born inside of there. it's the woman who has everything. she owns the house the property the fish poems the rice fields. everything to merely advise me to sit on my thumb at the bottom one. high 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 cup you are also had coffee beans come from coffee cherries that have been eaten and definitely hated by the asian palm civet it's a highly specialized product and popular all over the world. so i asked about 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 do x. above the. going up as i did obviously. i just thought if other people can do it why can't i. that's my motto that's why i've survived in the civic coffee business to this day. business. it's typically dominated by men. who move is the only daughter in the family so she inherited the house and fields she employs farmers from all over the region and determines the prices herself passed down from one generation of women to the next the 1st holland of western sumatra has been a source of wealth for the people for centuries. young.

men hold the youngest so i think there's a lot to learn from me now by women. from their self-reliance. from their respect for other women. and from their independence. when mean and care about couples marry the man moves into the wife's house and what's in her fields most men come from other families in other village and his opinion about inheritance is divided. and i haven't really thought about marriage yet. that's still a long way off from a clinic. and i mean it's a michael would have to go i think we should respect the traditions inheritance should go to the daughter of one.

he has are you taking men should be leaders they should be a man. but in our culture it's the women who have the privilege and that's not right if you. can liken it to religion says it should be the men who lead because women need to be protected that's their privilege and right the market is the law that's the way it should be i'm not the only person with this opinion you can see out of there. as i am. i often get into conflict about this with my family. we're going to do our own there's a woman in my family who says men have no rights. it's not that i have no rights we have duties in the moments just the inheritance that only goes to the woman what.

they mean certainly safe from the threat of male dominance the women are in control they have economic power and authority because of what. every man. dreams of having a daughter. and i gave birth to 3 sons. fair enough it might take some time until the world has adopted the matriarchal approach until then here's a call to political and company leaders how about providing proper daycare for kids so that mothers don't have to worry anymore about whether they are neglecting their child or their career a long overdue step in the work and. that's our show for this week for me and the

entire team here at d w made thanks for watching and.

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