![\"Marcia](\"https:\/\/www.rochester.edu\/adv\/alumni-news-media\/wp-content\/uploads\/2020\/11\/Marcia-2019-006-300x200.jpg\")
Marcia Mantell ’83<\/p><\/div>\n
Marcia Mantell \u201983<\/a>, a retirement consultant and Sherry Finkel Murphy \u201981<\/a>*, an associate wealth management advisor, are committed to helping their clients\u2014especially women\u2014become the heroes of their financial lives.<\/p>\n The two met in September at the first virtual New England Women\u2019s Network breakfast, a group that Mantell co-chairs. Launched this fall, the new volunteer-led Women\u2019s Network<\/a> provides dynamic programming like this to engage alumnae and help members connect and support one another. The network\u2019s mission is to harness and celebrate the rich contributions of women around the globe who are part of the Ä¢¹½´«Ã½ family.<\/p>\n \u201cThe new Women\u2019s Network is a catalyst for making powerful, important connections\u2014like the one that Sherry and I made with each other at this event,\u201d says Mantell. \u201cWe hit it off right away and realized we had a lot in common, including our passion for supporting women and their financial success.\u201d<\/p>\n Sherry Finkel Murphy ’81<\/p><\/div>\n \u201cNeither of us runs into many women in the financial services business so when we do, we are drawn to each other,\u201d says Finkel Murphy. \u201cWe were excited to see how we could help each other, serve our clients, and re-engage with the University and fellow alumnae.\u201d<\/p>\n A particular idea they bonded over was the notion of women maintaining an extra savings bucket used for funding \u2018second acts\u2019 and providing strength in financial negotiations with employers.<\/p>\n Mantell runs Mantell Retirement Consulting<\/a>, a Boston area business she started in 2005 after a long career in corporate retirement product marketing. She advises individuals and businesses, runs workshops and seminars, and writes books and a blog to help people better understand smart retirement planning.<\/p>\n Finkel Murphy works for The Atrium Financial Group<\/a> with Northwestern Mutual, located in the Albany\/Glens Falls area in N.Y. and leads the group\u2019s focus in women\u2019s financial planning. In 2019, after a decades-long career in technology sales and management, Finkel Murphy created her own second act. \u201cIt\u2019s more of a calling then a job,\u201d she says.<\/p>\n Working with women at all stages of their lives and careers is a specialty area for both women. \u201cWe share a commitment to helping all our clients, especially women, feel secure about money and build their wealth so that they can have the type of future and retirement they want,\u201d says Mantell.<\/p>\n Adds Finkel Murphy, \u201cWe want our clients to sleep well every night and have confidence in their financial futures.\u201d<\/p>\n Mantell and Finkel Murphy note that there is a significant wage gap in the U.S. for women. A gender pay gap analysis<\/a> conducted by PayScale notes that women make 81 cents on every dollar a man earns. The statistics are even worse for underrepresented women<\/a>. According to the National Women\u2019s Law Center<\/a>, Black women earn 63 cents per dollar and Latinas earn 55 cents.<\/p>\n The PayScale analysis also shows that when women get a new job, they receive, on average, an offer of seven percent less than what someone currently working in that position makes\u2014what PayScale refers to as a \u201cpay penalty.\u201d An article in Fortune<\/a> reports similar findings and articulates that the pay gap has worsened during the pandemic. A recent NPR<\/a> story echoes this, noting that multiple demands on their time are causing women to abandon the workforce\u2014in droves.<\/p>\n \u201cCOVID-19 is causing women to either leave the workforce or reduce their hours\u2014and their income\u2014significantly,\u201d adds Mantell. \u201cWomen are the ones taking care of children and parents, overseeing virtual school attendance and homework, and doing much of what it takes to run a household. There are long-term financial consequences to this.\u201d<\/p>\n A recent McKinsey & Company report<\/a> underscores this. It says that, globally, women are 1.8 times more likely than men to lose their jobs because of the pandemic and its economic effects. The report goes on to say that a notable reason for the drop in employment is because of their increased need to focus on providing unpaid childcare and eldercare during this time.<\/p>\n \u201cAll of this has a cumulative effect\u2014and it\u2019s not good,\u201d adds Finkel Murphy. \u201cIf you make less money or work fewer years when raising children, you contribute less to Social Security and you have less to add to retirement savings. And, if your employer matches retirement contributions, there will be less to match. This is why it is so important for women to take an active role in their finances and planning for their futures. Simply put, the wage gap and societal effects lead to a wealth gap for women that they need to address.\u201d<\/p>\n Often, women take a back seat to financial planning, say both Mantell and Finkel Murphy. \u201cMany of us have never been taught finance, savings, and retirement planning basics\u2014instead, we abdicate responsibility to others in our lives,\u201d says Mantell. \u201cTo protect ourselves, it\u2019s important we become better informed, know where our money is, and share responsibility for our financial decisions with our partners.\u201d[\/vc_column_text][vc_empty_space height=”25px” image_repeat=”no-repeat”][\/vc_column_inner][\/vc_row_inner][vc_row_inner row_type=”row” type=”full_width” use_row_as_full_screen_section_slide=”no” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column_inner offset=”vc_hidden-lg vc_hidden-md vc_hidden-sm”][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_single_image image=”20722″ img_size=”medium” add_caption=”yes” alignment=”center” mkd_css_animation=””][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_single_image image=”20732″ img_size=”medium” add_caption=”yes” alignment=”center” mkd_css_animation=””][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_column_text]Marcia Mantell \u201983<\/a>, a retirement consultant and Sherry Finkel Murphy \u201981<\/a>*, an associate wealth management advisor, are committed to helping their clients\u2014especially women\u2014become the heroes of their financial lives.<\/p>\n The two met in September at the first virtual New England Women\u2019s Network breakfast, a group that Mantell co-chairs. Launched this fall, the new volunteer-led Women\u2019s Network<\/a> provides dynamic programming like this to engage alumnae and help members connect and support one another. The network\u2019s mission is to harness and celebrate the rich contributions of women around the globe who are part of the Ä¢¹½´«Ã½ family.<\/p>\n \u201cThe new Women\u2019s Network is a catalyst for making powerful, important connections\u2014like the one that Sherry and I made with each other at this event,\u201d says Mantell. \u201cWe hit it off right away and realized we had a lot in common, including our passion for supporting women and their financial success.\u201d<\/p>\n \u201cNeither of us runs into many women in the financial services business so when we do, we are drawn to each other,\u201d says Finkel Murphy. \u201cWe were excited to see how we could help each other, serve our clients, and re-engage with the University and fellow alumnae.\u201d<\/p>\n A particular idea they bonded over was the notion of women maintaining an extra savings bucket used for funding \u2018second acts\u2019 and providing strength in financial negotiations with employers.<\/p>\n Mantell runs Mantell Retirement Consulting<\/a>, a Boston area business she started in 2005 after a long career in corporate retirement product marketing. She advises individuals and businesses, runs workshops and seminars, and writes books and a blog to help people better understand smart retirement planning.<\/p>\n Finkel Murphy works for The Atrium Financial Group with Northwestern Mutual, located in the Albany\/Glens Falls area in N.Y. and leads the group\u2019s focus in women\u2019s financial planning. In 2019, after a decades-long career in technology sales and management, Finkel Murphy created her own second act. \u201cIt\u2019s more of a calling then a job,\u201d she says.<\/p>\n Working with women at all stages of their lives and careers is a specialty area for both women. \u201cWe share a commitment to helping all our clients, especially women, feel secure about money and build their wealth so that they can have the type of future and retirement they want,\u201d says Mantell.<\/p>\n Adds Finkel Murphy, \u201cWe want our clients to sleep well every night and have confidence in their financial futures.\u201d<\/p>\n Mantell and Finkel Murphy note that there is a significant wage gap in the U.S. for women. A gender pay gap analysis<\/a> conducted by PayScale notes that women make 81 cents on every dollar a man earns. The statistics are even worse for underrepresented women<\/a>. According to the National Women\u2019s Law Center<\/a>, Black women earn 63 cents per dollar and Latinas earn 55 cents.<\/p>\n The PayScale analysis also shows that when women get a new job, they receive, on average, an offer of seven percent less than what someone currently working in that position makes\u2014what PayScale refers to as a \u201cpay penalty.\u201d An article in Fortune<\/a> reports similar findings and articulates that the pay gap has worsened during the pandemic. A recent NPR<\/a> story echoes this, noting that multiple demands on their time are causing women to abandon the workforce\u2014in droves.<\/p>\n \u201cCOVID-19 is causing women to either leave the workforce or reduce their hours\u2014and their income\u2014significantly,\u201d adds Mantell. \u201cWomen are the ones taking care of children and parents, overseeing virtual school attendance and homework, and doing much of what it takes to run a household. There are long-term financial consequences to this.\u201d<\/p>\n A recent McKinsey & Company report<\/a> underscores this. It says that, globally, women are 1.8 times more likely than men to lose their jobs because of the pandemic and its economic effects. The report goes on to say that a notable reason for the drop in employment is because of their increased need to focus on providing unpaid childcare and eldercare during this time.<\/p>\n \u201cAll of this has a cumulative effect\u2014and it\u2019s not good,\u201d adds Finkel Murphy. \u201cIf you make less money or work fewer years when raising children, you contribute less to Social Security and you have less to add to retirement savings. And, if your employer matches retirement contributions, there will be less to match. This is why it is so important for women to take an active role in their finances and planning for their futures. Simply put, the wage gap and societal effects lead to a wealth gap for women that they need to address.\u201d<\/p>\n Often, women take a back seat to financial planning, say both Mantell and Finkel Murphy. \u201cMany of us have never been taught finance, savings, and retirement planning basics\u2014instead, we abdicate responsibility to others in our lives,\u201d says Mantell. \u201cTo protect ourselves, it\u2019s important we become better informed, know where our money is, and share responsibility for our financial decisions with our partners.\u201d[\/vc_column_text][vc_empty_space height=”25px” image_repeat=”no-repeat”][\/vc_column_inner][\/vc_row_inner][vc_row_inner row_type=”row” type=”grid” use_row_as_full_screen_section_slide=”no” text_align=”left” background_color=”#e9e5d7″ css_animation=”” box_shadow_on_row=”no”][vc_column_inner][vc_empty_space height=”20px” image_repeat=”no-repeat”][vc_column_text]<\/p>\n Here, Mantell and Finkel Murphy offer this advice to help women plan for a healthy financial future.<\/p>\n [\/vc_column_text][vc_empty_space height=”20px” image_repeat=”no-repeat”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_empty_space height=”25px” image_repeat=”no-repeat”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”grid” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_row_inner row_type=”row” type=”grid” use_row_as_full_screen_section_slide=”no” text_align=”left” background_color=”#f4f4f4″ css_animation=”” box_shadow_on_row=”no”][vc_column_inner][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_column_text css=”.vc_custom_1626808256584{padding-top: 1px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;}”]<\/p>\n For more financial insights, view the recording of Mantell and Finkel Murphy at the virtual event, \u201cFinancial Freedom\u201d on our webinar library<\/a>.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”10px” image_repeat=”no-repeat”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_empty_space height=”15px” image_repeat=”no-repeat”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”grid” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_row_inner row_type=”row” type=”grid” use_row_as_full_screen_section_slide=”no” text_align=”left” background_color=”#e6f3fa” css_animation=”” box_shadow_on_row=”no”][vc_column_inner][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_column_text css=”.vc_custom_1605814328289{padding-top: 1px !important;padding-right: 15px !important;padding-bottom: 15px !important;padding-left: 15px !important;background-color: #e6f3fa !important;}”]<\/p>\n Looking for ways to connect with Ä¢¹½´«Ã½ alumnae? Consider joining the University\u2019s Women\u2019s Network<\/a> group on The Meliora Collective<\/a>, an exclusive, online platform designed for Ä¢¹½´«Ã½ alumni, students, parents, and friends who want to make meaningful connections for personal and professional exploration and growth. You can also volunteer, join a regional network, or attend an event near you. Learn more here<\/a>.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”10px” image_repeat=”no-repeat”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”grid” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_column_text css=”.vc_custom_1605880325707{border-top-width: 1px !important;padding-top: 10px !important;}”]<\/p>\n *Sherry Finkel Murphy \u201981 is a Certified Financial Planner (CFP\u00ae) professional and is certified as a Chartered Financial Consultant (ChFC\u00ae), and a Retirement Income Certified Professional (RICP\u00ae). Northwestern Mutual (NM) is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Sherry Finkel Murphy is an insurance agent of NM.<\/em><\/i><\/p>\n [\/vc_column_text][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_column_text css=”.vc_custom_1604522847695{border-top-width: 1px !important;padding-top: 10px !important;border-top-color: #999999 !important;border-top-style: solid !important;}”]<\/p>\n \u2014 Kristine Thompson, November 2020<\/strong><\/span><\/p>\n [\/vc_column_text][vc_empty_space height=”25px” image_repeat=”no-repeat”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” css_animation=”” box_shadow_on_row=”no”][vc_column][vc_empty_space height=”25px” image_repeat=”no-repeat”][vc_column_text]<\/p>\n [\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":" Marcia Mantell \u201983, a retirement consultant and Sherry Finkel Murphy \u201981*, an associate wealth management advisor, are committed to helping their clients\u2014especially women\u2014become the heroes of their financial lives.<\/p>\n","protected":false},"author":26,"featured_media":21292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[752,652,682],"class_list":["post-20502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-profiles","tag-boston","tag-women-who-roc","tag-womens-network"],"yoast_head":"\n![\"Sherry](\"https:\/\/www.rochester.edu\/adv\/alumni-news-media\/wp-content\/uploads\/2020\/11\/Sherry.02HighRes-300x200.jpg\")
\u2018More of a calling than a job\u2019<\/strong><\/h4>\n
On the dollar<\/strong><\/h4>\n
\u2018More of a calling than a job\u2019<\/strong><\/h4>\n
On the dollar<\/strong><\/h4>\n
Nine tips for a healthy financial future<\/h3>\n
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