By Eillie Anzilotti | Fast Company

There’s no doubt that closing the pay gap between men and women, and across races, is a vitally important step for advancing equity. Measured against the median salary that a white, male, full-time worker earns, women earn 80% of what men do: Hispanic and black women earn just 54% and 60%, respectively. But according to a new report, it’s not enough. In the U.S., young women in particular are struggling to access and build wealth, and this cannot be explained by the gender pay gap alone.

Clipped Wings was created by the Asset Funders Network, which directs grantmakers and funders in how to support economic equity, as well as the Closing the Women’s Wealth Gap Initiative and the Insight Center for Community Economic Development. In it, the authors delve into exactly why millennial women are encountering financial difficulties today, and how support programs and investments should be redesigned to meet their needs.

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