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Located just below the main town in Thimphu, on the bank of Wang Chhu, Centenary Farmers Market bills itself as the biggest vegetable market in Bhutan. Outside the market, especially on weekends, taxis and private cars congest the roads, struggling to find a parking space. The two-story market is divided into two sections: the ground floor sells vegetables imported from India, while the first floor displays local organic produce. The market is just 12 years old. It was inaugurated in 2008 by Princess Ashi Dechen Yangzom Wangchuck to celebrate the monarchs centenary reign. The market site, within its small life time, has witnessed a gradual change from the previous several seasons, and so also for the vendors there. In this short essay, we offer a peek into the lives of women vendors at the Centenary Farmers Market.

According to the International Labor Organization (ILO), at least 2 billion people, constituting about 61.2 percent of the worlds working population, are absorbed in informal sector employment today. These workers, who enter the informal economy owing to the lack of economic opportunities and other means of livelihood in the formal economy, mostly reside in developing countries. While there are competing claims with regard to the role of informal sector employment in helping to reduce poverty and inequality in the global economy, it cannot be denied that the sector continues to be a refuge for many.

The informal sector covers a wide array of unorganized economic activities in commerce, agriculture, construction, manufacturing, transportation, and services. In Bhutan, according to the Labor Force Survey Report 2018, 73.6 percent of the labor force is currently engaged in the informal sector, mainly comprising individuals with low education, rural area migrants, and poor households. Further, within the sector, almost three-quarters are involved in agriculture-related employment.

While on one hand, the informal sector provides jobs and reduces unemployment, in many cases the jobs are low-paid and guarantee little or no security.

In Bhutans capital, Thimphu, farmers from different parts of the country come to Centenary Farmers Market to sell their produce. The market houses about 400 stalls, providing self-employment to both the farmers and vendors alike. Numbers indicate that these sellers are largely women. But why have so many women conglomerated in the market?

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There are two recurring reasons to account for this, which these women themselves cite. First, women are traditionally expected to perform care-work, provide food to the family, do household work, and other feminine tasks. And this spills over to the kind of work they do. I think Bhutanese always have had this culture of females doing these kinds of work, Tshering said. Regular office works entail fixed (and often long) work hours, and other rigid obligations, and the women who enter the market overcome a lot of barriers and have many obligations. The informal sector gives them a flexible work schedule: both a time to perform their traditional gendered activities, and also a time to earn some money in the hours they can afford to spare.

Second, barriers in education also lead women to this option. While their male friends and siblings go to school, girls were expected to remain home and take care of younger siblings or the elderly. This inequality in access to education continues to date. In 2018, the adult (15 years and older) literacy rate in Bhutan for men was 75 percent, while for women it was 57 percent. This leads to more women being disqualified from formal sector employment, both in the public and private sectors.

Entry into the market has, however, empowered many women, at least to a certain extent. These women have made the best use of the opportunities the Centenary Farmers Market has in store for them.

A study conducted by the National Centre for Women and Children showed that violence against women is not uncommon in Bhutan. The report shows that one in every three ever-partnered women experienced an incidence of violence at least once in their lifetime, and more than 50 percent of those women (meaning one in every two) experienced violence twice or more. One of the three main causes of this intimate partner violence was financial stress in the family. To address the issue, the report recommends financial independence for women.

While a lot of research advocates for full financial independence for women to be empowered, these women have a different insight to offer. My husband consults me about our childrens education; he has to I also contribute, Pema said. We also discuss our saving strategies, and our monthly spending, she added. Merely being a part of the financial decision-making process of and in the family had empowered women, and lowered the chances of being victims of violence.

Many of the women in the market are prime breadwinners in their families, and some supplement their male counterparts incomes. Irrespective of their contributions, these women report displaying a great deal of autonomy in their marriage after becoming vendors and starting to earn money. They also started to schedule their own work time, and could decide what to do on their days off.

This said, not much has changed, however, in terms of sharing their household work. While a few of them report greater gender equality at home, many talk about the pile up of household chores on their day off. I have to wake up very early in the morning, sometimes as early as 3:00 AM when I have a lot of vegetables to carry to the market, Lhamo said. and every day, before I leave for work, I have to prepare breakfast and pack lunch for my kids and husband. Even so, these women articulate a greater feeling of satisfaction and confidence, stemming from the contribution they make to their familys finances.

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The testimonies of the women are now laced with strain. While selling vegetables does give them some financial income, for many women, it is not very substantial. Our survey revealed that the average income for each vendor is just about 44,000 Bhutanese ngultrum ($590) a year. This translates into a low lower-middle class income (Bhutans median income, according to the National Statistics Bureau, is about Nu. 200,000 a year).

For the past few years, their average income has been dwindling, as our survey also revealed. The women vendors reported a drop in their real income. They fear it might drop even further with the regular pay hikes in the government sector, and the increase in competition in their market. But on any given day, they have very few options to choose from. Many of them feel selling vegetables was the only job they could do. There are too many vegetable vendors in the market, and that makes profit making difficult. But as an uneducated person what other option do I have? We have to rely on this type of work to earn our living, Pema sighed.

A common grievance among women vendors was the increase in the number of vegetable vendors in the market and adjacent areas, and consequently the reduction in profits over the last few years. More than any other policy suggestion even more than improved sanitation, accessibility, and storage they want the governments intervention in keeping the number of vendors as it is, or even reducing it. Many of them feel licensing vegetable vending would help solve their problem.

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Interestingly however, some of the women reasoned that there were problems with that approach as well: Even if vegetable vendors needed to get a license to sell at the Farmers Market, many who cannot obtain a license would simply skirt the issue by selling their vegetables somewhere else. The state then, in an effort to help the vendors in the Farmers Market, will also have to inconvenience sellers of the secondary informal sector.

The city of Thimphu had already witnessed a similar attempt at this. When the Thimphu Thromde (a second-level administrative division in Bhutan) banned vegetable vending in Norzin Lam (one of the streets in Thimphu), rather than complying with the direction, these secondary informal sector vendors and their supporters retaliated, calling the Thromde antiGNH (Gross National Happiness). This outcry was apparently quite loud on social media. These vendors comprised of individuals who could not get a permanent selling location in the Centenary Farmers Market, and as a result resorted to selling their produce in the streets.

Increasing the stakes is the steady increase in competition coming from department stores, shopping marts, and/or e-commerce, with doorstep delivery now in fashion. On every intersection and streets in the city, big shops are now selling vegetables; and customers who otherwise come to us find it more convenient to buy their vegetables from there, Tenzin said. These shops have made life very convenient for customers who need to do grocery shopping quickly and in lesser amounts, she added. Many of these shops have staff on payroll, pay regular taxes, and keep established lines of supply and distribution. The costs of having these components is offset by the volume of trade and profit margins from other products the shops carry. They very easily outperform the informal sector in pricing their products.

Now with the COVID-19 crisis, and the accompanying changes in market scenes, what changed for these women?

Bhutan is among the few countries that has handled the COVID-19 situation with sufficient care. To date, there have been only 77 cases (mostly from students and returnees), of which 62 have recovered, and zero deaths. Yet, businesses did not go unaffected, and especially informal businesses.

Corona has affected all of us, and to me as a vegetable vendor, Sonam said. Bhutan cannot produce vegetables on large scale, and we import a lot of vegetables from India via Phuntsholing. But the government has imposed restrictions on importing certain vegetables; with the limited local [Bhutanese] suppliers, it has become increasingly challenging for us to maintain stock.

Already under strain, faced with competition coming from both within and outside the sector, the COVID-19 crisis has aggravated these womens situation. Many of their earnings are halved, and their work time has been reduced (although this was set to change starting July 1). The public panic and stay at home campaign has decreased the number of customers they get on a normal day.

Despite their plight, for these women, their hopes are relentless. Even if I earn less, Tshering maintained, I will continue doing this.

Roderick Wijunamai teaches in the Department of Social Sciences, at Royal Thimphu College. Kinley Yangchen is a student of Political Science and Sociology at Royal Thimphu College.

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The Hope and Struggles of Bhutan's Women Vegetable Vendors - The Diplomat

For Theresa Bedeau, senior manager for community development banking at Capital One, the racial wealth gap is not some distant concept its personal.

I grew up in New York City, in the Bronx, and I understood the impact of lack of financial inclusion in my own community, she says. My neighbors lack of economic mobility was not due to any individual shortcomings, but the reality in which we had to navigate our world, which had unequal access to opportunity. Her firsthand knowledge of how financial barriers can limit peoples prospects has made Bedeau a champion of driving financial inclusion among communities that often go underserved.

Indeed, the racial wealth gap has limited opportunities for people of color in the U.S. for generations and it persists even as other socioeconomic gaps narrow. The wealth gap between black and white families grew from about $100,000 in 1992 to $154,000 in 2016 and research indicates it could grow even wider in the wake of COVID-19.

A May study from the International Monetary Fund examined how past pandemics, such as SARS, H1N1 and Ebola, affected wealth disparities. They found that these pandemics raised income inequality overall and hurt employment prospects for those without advanced degrees. This is consistent with recent findings from the National Bureau of Economic Research: Within the bottom fifth of U.S. income earners, who are more likely to be black or Hispanic, 35 percent lost their jobs during the first two months of the pandemic, compared to 9 percent in the top fifth of earners.

Along with holding communities of color back from opportunity, McKinsey estimates the racial wealth gaps dampening effect on consumption and investment will cost the U.S. economy $1 trillion to $1.5 trillion between 2019 and 2028 or 4 to 6 percent of the projected GDP by the end of this decade.

Those numbers are real, Bedeau says. By acknowledging that, we can see that we have a lot of work left to do. Conversations around racial equity can be hard to have, but theyre necessary.

Businesses, particularly those in the financial services sector, have a clear role to play in delivering financial inclusion and empowering more people economically, but they cant go it alone. To drive maximum impact, companies must not only partner with nonprofit organizations and community groups, but also listen to them and value their guidance as experts in what their neighborhoods need, Bedeau says.

Financial inclusion is so much more than owning a bank account. Its about being active participants in the wider financial community and how people want to manage their financial lives, she explains. Part of the way we build trust between a financial institution like ours and the community is to partner with community groups. We have a shared commitment, working with organizations that support entrepreneurship and business ownership. Financial inclusion also begins with savings and a journey toward financial independence and wealth generation for communities that are generally underserved.

A 2017 survey from the FDIC (Federal Deposit Insurance Corp.)showed that 20 percent of households are underbanked or underserved, and 40 percent of Americans cant cover a $400 emergency expense. As COVID-19 continues to disrupt lives and livelihoods, these issues are becoming even more pronounced. Nearly half of Americans are worried about the pandemics impact on the economy and their financial lives, and 53 percent of lower-income adults reported having trouble paying some of their bills in April.

A wide variety of people might face barriers to financial empowerment from students uncertain about how they will fit into the modern workforce, to seniors struggling to understand online and mobile banking, to aspiring entrepreneurs looking to bootstrap their businesses.

The focus of Capital Ones nonprofit partnerships is to reach all of these groups. We have strong, deep relationships with community organizations, Bedeau says. What I love is that we work with these organizations in our daily work. Connecting with them helps ensure that our products and tools are meeting the needs of the community and addressing the challenges they face.

Building greater capacity for financial inclusion is essentially about a commitment to economic justice, she continues. Take, for example, Capital Ones work with the Long Island Community Foundation to close the racial wealth gap in the borough, with the potential to add a $24 billion boost to the local economy. The partnership is community-led so that it can be responsive to local needs. That is really reflective of the way we approach our community partnerships, Bedeau says.

Founded in Queens, New York, in 2008, Grameen America builds on the legacy and proven model of Nobel Peace Prize Laureate Muhammad Yunus. His revolutionary but simple idea is that all people can lift themselves out of poverty through their own entrepreneurial spirit.

Grameen America, a longtime Capital One partner, provides microloans starting at no more than $2,000, along with financial training and support, to its members. As part of the program, members open free savings accounts with commercial banks, including Capital One, and make weekly deposits.

The target population is women who live below the federal poverty line, for whom the mainstream financial system is often out of reach. The women Grameen serves previously had few options for accessing capital, and most lacked bank accounts and had little to no credit history.

Grameen Americas programming has expanded to 15 U.S. cities, disbursed $1.42 billion in loans and served 129,000 women. For more than a decade, Capital One has been supporting Grameen Americas microloan programs in New York City, Houston, Miami and New Jersey, along with technology and capacity-building initiatives to help scale and empower more low-income women entrepreneurs. And theres a huge demand for that support, with an $87 billion gap in financing for small businesses.

The women in Grameen Americas program use their microloans to launch a wide range of small businesses everything from selling empanadas out of a shopping cart to a full-fledged restaurant and business storefront, says Alethia Mendez, vice president of operations and program strategy for Grameen America.

A key part of Grameens approach is its peer-to-peer lending model. A cohort of five women, who are known to each other through friends and the community, make lending decisions collectively, forming a trust network, Mendez explains. This helps encourage responsible financial practices and repayment.

The more than 99 percent repayment rate is a testament to the power of the cohort and those individuals who society might not consider credit-worthy, she says. One of the biggest influencers is that they dont want to let each other down. These are women who are friends, trusted individuals from their community, so in a sense they have created a bond of accountability.

For Bedeau, what makes Grameen America so impactful is that they listen to what people on the ground say they need.

Their recipe is quite simple: Meet the women where they are [and] connect them with the right financial products and services, she says. "At the core of what they do is understanding peoples needs and how they want to live their lives. For many of these women, it might be the first time theyve opened a savings account. Working with Grameen America presents a great opportunity for us to build a relationship with these women and support them in their goals to build wealth for themselves, their families and their communities.

There is a huge demand for more solutions like these. The number of women running businesses has doubled over the past two decades. But in the U.S., women are the recipients of only 4 percent of all small business loans, and the lending gap is even wider for women of color, as TriplePundit has previously reported.

Fundamentally, we believe that both the private and public sectors have a responsibility to do more and to be intentional about this type of support, Mendez says. Capital One has been a strong partner and supporter, from a programmatic as well as a philanthropic and funding perspective. These partnerships advance financial inclusion for the women they serve and also build our own capacity as an organization, so we can be strong for the hundreds and thousands of women we work with.

This article series is sponsored by Capital One and produced by the TriplePundit editorial team.

Image credit:Christina @ wocintechchat.com via Unsplash

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To Drive Financial Inclusion, Businesses and Nonprofits Must Come Together, Says This Executive - Triple Pundit

Lets clarify at the outset that Single by Choice: Happily Unmarried Women! is not as some would immediately assume a book of angry rants spewing venom against men. Instead, this anthology of essays, edited by Kalpana Sharma, is about that bizarre concept unthinkable in our part of the world: freedom of choice as applied by women to their own lives.

Nowhere are women more limited for choice than on the subject of marriage. From a very early age, marriage is pushed as the end goal for almost every girl, as the defining moment when she can start to experiment with, and experience, life. Want to wear make-up (for many of my generation, at least)? Do it after marriage. Want to travel? After marriage, with your husband. Want to live on your own? Heres hoping you can after marriage.

Its not surprising then that, for most of the essayists, remaining single was a choice they made after experiencing a little bit of life. As they dove headfirst into fulfilling careers and enjoyed the financial independence it brought, as they grew more mature and observant, as their parents eased up with what will people say?, the pot simmering with marital possibilities kept getting pushed to yet another backburner, until it eventually fell off the stove altogether.

Sports journalist Sharda Ugra gets it spot on. Having built a comfortable life, with her own apartment and freedom to do whatever she wants, whenever she wants, she asks a very pertinent question of Marriage itself: What is it you offer me in exchange for turning away from this life?

Standard answers pour in: security (not always; married women are routinely threatened with eviction by husbands and in-laws), companionship (husbands do die, even the most loving ones), and children to safeguard against loneliness in old age (until they move away). Social validation is a very important factor: marriage is seen as an achievement, cementing the fact that a woman was pretty enough, desirable enough and valuable enough to be acquired by a man.

A book of essays presents the other side of the story, heart-warming and funny accounts of women evading the pressures of settling down

Fairly weak arguments, really, but alas, so deeply rooted.

As for counterarguments, the first would probably be that women who choose to remain single must have some raging vendetta against men. The actual case is far different. Several writers mention wanting or having had long-term relationships with kind, caring and sincere men, but almost all are aware that once marriage is formalised, the dynamics of a relationship change. This is not hostility towards men, but towards typified gender roles which are strengthened within the institution of marriage.

It is not a question about domesticity either, of mad, career-driven harpies who refuse to cook and clean. These women cherish their homes and speak of the joy they get from cooking and taking care of their houses, their families and their friends. Perhaps it is an aversion to having their domesticity dictated by someone else. They must exchange how they want to live, with how they must live.

For men, it would be similar to being a seth, as opposed to working for a seth. As Laila Tyabji, chairperson of an NGO for womens empowerment, writes in Being Single is Not Being Solitary: life on my own terms seemed increasingly delightful and, gradually, the compromises and adjustments of marriage seemed more and more claustrophobic. She goes on to point out that this does not mean celibacy, adding, My idea of bliss became a lover who lived down the lane.

The second argument would be placing the greater good above individual choice. The pursuit of individual choice is often considered detrimental to the fabric of society and, more often than not, is not expected of women. Journalist and author Freny Manecksha writes in Happily Unmarried Ever After about campaigns in the Parsi community, encouraging marriages and procreation. The goal was to raise the numbers of a dwindling community, and it involved denouncing single Parsi women as selfish for not wanting to become baby-making machines. The women towards whom these campaigns were aimed rightfully laughed in the campaigners faces.

Most of the 13 essays in the book are heart-warming and funny accounts of young women evading the pressures from family of settling down. In Slouching Towards Singledom, magazine editor Aditi Bishnoi sketches a hilarious image of her parents creating a marriage profile for her. Others write of finding one tactic or the other to delay or avoid meetings, keeping at it long enough to limbo-dance their way out from under the marriageable age bar that grows comfortingly closer with each passing year.

But, as human rights activist Asmita Basu writes in Im Not in Transit, the point is not to glorify a single life or denounce all marrieds. Each state has its unique advantages and disadvantages. And so, Single by Choice presents the other side of the story, too, with several essays taking note of the pitfalls of never having been in a conscious coupling.

There is, of course, social ostracisation at a wedding celebration, Manecksha is not allowed to participate in a Parsi fertility ritual of planting a mango sapling. There are workplace issues, where a single woman is not given the same considerations as married women who have husbands and children and so can claim social legitimacy.

Then, most importantly, there is the difficulty of finding a place to live and being allowed to live there in peace. In Single And Free, copy editor Sherna Gandhy writes of single women having to endure suspicious glances from watchmen, neighbours, and of being seen by the censorious as being fast a sentiment echoed by Tyabji as well as doctor and professor Vineeta Bal, whose every visitor to her university campus housing man, woman, young, old is scrutinised, the implication, again, being that the lady of the house has by virtue of being unmarried no virtue to speak of. In Dalit writer Bamas essay Uphill Flows the River, being a single woman in her village is such an anomaly that her neighbours advertise to all and sundry that I live alone, and by doing so, put my safety in jeopardy.

Essentially, what it all boils down to is this: women are tired of being told how to live and some of them are finding the courage to do something about it, by not doing what is expected. They have nothing against marriage, but they dont see it as the right option for them. And thats all they ask, for the freedom to live as they please.

The reviewer is a member of staff

Single by Choice: Happily Unmarried Women!Edited by Kalpana SharmaWomen Unlimited, IndiaISBN: 978-9385606229152pp.

Published in Dawn, Books & Authors, July 5th, 2020

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NON-FICTION: WANTING TO BE UNWED - DAWN.com

New Delhi: COVID-19 pandemic cannot be viewed solely as a health and economic crisis. Besides inhuman conditions people live in even as they fight the pandemic, there is an upswing in gender-based violence. According to a report by United Nations Development Programme (UNDP) titled Gender-based violence and COVID-19[1], gender-based violence (GBV)increases during every type of emergencybe it economic crisis, conflict or disease outbreaks.

Another report titled, WHO Warns of Surge of Domestic Violence in Europe, a six-month lockdown could see an increase of GBV cases by 31 million worldwide.Dr Hans Kluge, the Regional Director for Europe for the World Health Organization (WHO), the UNFPA has warned that there could be an extra 31 million cases of gender-based violence if lockdowns were to continue for six months, he said.

To cite an instance, the Rohingya community in the Cox Bazaar area of Myanmar live in unplanned, unsanitary refugee camps with little financial and humanitarian aid, let alone medical facilities. But this pandemic has a fiercer impact on the women in the area who not only face the above mentioned threats but are now also silent victims of a deeper structural menace of gender-based inequality and violence.

The formal justice system in Myanmar to protect women in poorer regions such as Rakhine has failed to deliver. The problem lies not only in the administrative backlogs like corruption but also with the capillarity of structural patriarchy that runs through the entire system. Reporting of gender abuse and domestic violence would not only entail shame in the community and probably the risk of losing out on the economic safety net provided by the patriarch in the family. Cultural values and norms which reinstate patriarchal attitude within the communities also stigmatise women who are divorcees. Thus, formal authorities are likely to treat issues of domestic abuse as marital discord rather than actual acts of criminal violence. This has created a norm of reluctance in reporting cases of GBV. Only nine cases of domestic violence and two cases of sexual assault were recorded through a questionnaire given to 1,252 households[2].

While formal mechanisms of justice were always out of reach for women who were impacted by GBV, the informal means of justice through communitarian and self-help groups has been reduced significantly due to COVID-19-induced lockdown. Thus, NGOs and humanitarian workers can do little. Additionally, safe spaces and other non-essential services have been forced to cease operations, amputating any recourse mechanisms for GBV victims.

Further, poverty and lack of financial independence amongst women in the Rohingya community has led to inadequate access to internet and mobiles, especially during the time of a pandemic. This has impacted womens access to information on crucial issues like safety shelters, self-help groups, justice missions and basic knowledge regarding maternal healthcare and sanitation.

Many NGOs and self-help groups like Myanmar Womens Affairs Federation and UNICEF Safe Spaces in Cox Bazaar have started a policy of door-to-door information dispensation and gender-based sensitization.[3] However, this is a less effective measure as in-home activities do not solve the vulnerability of women who continue to struggle within the four walls and share the same restricted space with their oppressor/s.

This issue, therefore, needs to be looked at from a holistic point of view to guarantee women access to increased informal means of justice coupled with self-confidence building measures to battle structural prejudices associated with domestic violence. However, these should also be accompanied with tangible efforts towards economic self-sufficiency by increasing skill training and jobs for women. Labour force participation in Myanmar is disparate at 51.3 percent for women against 79.9 percent for men.[4] In order to reduce reversal of progress made in realising SDG 5 for Gender Equality and SDG 16 for a more equal and inclusive society, the government of Myanmar and UN Womenneed to adopt and adapt to the new normal imposed by the pandemic conditions. Collective sensitization of society and informal conduits of justice needs to be strengthened through a bottom-up approach to challenge deep-rooted patriarchal power structures that are bulwarks against women achieving justice and gender equality.

(Tamanna Dahiya is an intern with OneWorld Foundation India)

References:

[1] Gender-based violence and COVID-19. UNDP, United Nations, https://www.undp.org/content/undp/en/home/librarypage/womens-empowerment/gender-based violence-and-covid-19.html

[2] Consolidated Summary Report Access to Justice and Informal Justice Systems: UNDP in Myanmar. UNDP, United Nations , http://www.mm.undp.org/content/myanmar/en/home/library/democratic_governance/Consolidated_Summary_Report_Access_to_Justice_and_Informal_Justice_Systems.html.

[3] Preventing a Silent Crisis for Rohingya Women and Girls during COVID-19 Pandemic. UNICEF, http://www.unicef.org/coronavirus/preventing-silent-crisis-rohingya-women-and-girls-during-covid-19-pandemic.

[4] Human Development Reports. | Human Development Reports, hdr.undp.org/en/composite/GII.

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Gendered Perspective on Access to Justice in Myanmar's Refugee Community during COVID-19 | Towards Global Goals 2030 - OneWorld.net

Returning to work with a severe health condition or recent injury can be hard enough. Battling the same misconceptions and stereotypes during a global pandemic can seem like even more of a challenge.

But there are ways to succeed, and the rewards can be tremendous. Financial independence, a sense of control, and greater integration into the community are all benefits people report to us after theyre able to return to work.

Some disabilities are easier to see than others. An employer may understand a reasonable accommodation for someone with back pain and an inability to sit for long hours. With other health conditions, such as mental health, the accommodations process may be more challenging.

Approaching the issue of mental illness can be tough both for the person with a disability and the potential employer or HR department. It can be done with careful steps. One of the things I highly recommend to someone in this position is to have a discussion with a trained career consultant on the best way to communicate on these topics to potential or former employers.

If you are returning to work following successful treatment of mental illness, then its important to think through your steps in advance. For example, having a conversation about accommodation or your illness should be conducted after the application and interview processes are complete, and even more preferably once the position is officially offered and accepted.

Besides navigating the uncertainty of disclosure, it can be harder to find the right fit within the workplace. For example, with the people I help return to work, I find those with anxiety disorders may struggle to be around people in the work environment all day. They might need to limit their face-to-face interactions to avoid a triggering or upsetting situation. In these cases, I guide them toward a more independent job or coach them on how to request a remote work setup.

When I first started working in this field, mental illness wasnt as easily recognized or discussed as it is today. People who are trying to go back to work following effective treatment, generally, are much more comfortable discussing their health than they were years ago. In addition, proponents have been leading the way toward a more inclusive and diverse society.

Sadly, despite some progress, mental health issues still retain a stigma. We need to keep going and recognize mental health as important alongside physical health. The truth is, many people are coming forward to share their experience with depression and anxiety as a result of the COVID-19 pandemic. Mental health needs are common among all types of individuals, no matter their gender, age or other characteristics. A diagnosis is simply that: a diagnosis. All conditions, whether physical or mental in nature, need to be acknowledged and respected.

I direct those I counsel toward the Social Security Administrations free Ticket to Work program. Its designed to help individuals who reach medical recovery to begin their return to work while protecting their Social Security Disability Insurance (SSDI) benefits.

I also guide job candidates on how to showcase their unique talents and skillsets to employers. Its vital to show how hiring people with disabilities creates a more inclusive work environment, filled with different perspectives and strong work records, usually with many years of experience. In fact, SSDI recipients have on average 22 years of prior work experience.

I have worked with people who have all sorts of disabilities, physical and mental, including people who need treatments on a daily basis. Many individuals with mental illness thrive at work. Their health conditions dont stop them from contributing to the team.

The best advice I can give is this: Never say never when it comes to returning to work. Medical conditions can improve with treatment, and the Ticket to Work program is available for anyone who wants to try working again without risking their benefits. If someone wants to return to work and become financially independent, they will use whatever tools are available to help them succeed. It all comes down to motivation, and I have found many people with mental illnesses have the motivation and ability to surpass these obstacles to find employment success.

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Returning To Work With A Mental Illness Is Possible - Forbes

Building sufficient financial resources to retire early may sound like a dream, but making that dream come true is not as hard as it may sound. The main thing is simply to save more money each month. No big deal, right? Well ...

Usually, advisors advise 15% to 20% of total income saved every month as an objective - yet in the event that you want to retire earlier, you likely need to tighten that number up to 40% or half of your pay. Not a discipline easily practiced when you review or consider that a substantial segment of your paycheck goes to basic, non- negotiable lifestyle needs. But if you are willing to make some serious lifestyle adjustments and trade-offs, it's achievable.

A relatively new movement called Financial Independence, Retire Early (FIRE) has been developed around this "sacrifice and over-save now to retire early" concept. FIRE followers develop strict savings programs (up to 75% of income) and make associated sacrifices like living in small apartments, walking to work every day, restrictive diets, and so on. This path may be too restrictive for many, but the mindset offers some takeaways that might be worth considering.

The first point is to adhere to the key principles of long-term investing, including developing a diversified portfolio that includes stocks with various styles, sizes, sectors and regions.

You may be able to accelerate your potential retirement earnings by consciously seeking higher returns (and also accepting more risk) in your investment portfolio. But whatever your risk tolerance, your portfolio must be diversified to protect against extreme market movements that could jeopardize your early retirement objective. You can choose from a number of ways to allocate investments to diversify your portfolio, and these should be informed by your individual goals, growth and income needs, appetite for risk, and age.

Once you've begun saving at a higher rate and you have an investment plan, put that money to work in your plan as quickly as you can. Don't worry about finding the "perfect time" to invest - simply put the money in and keep it in. Let compounding work to help you grow your retirement savings at an exponential rate.

Growth stocks with low beta, strong earnings estimates, positive sales growth, and expected future growth are an excellent way to determine investable growth stocks for your retirement.

Zacks offers investors useful rankings for lower risk growth stocks for retirement portfolios. The following are a few selections that merit a closer look: AbbVie (ABBV), Amgen (AMGN) and Bristol-Myers Squibb (BMY). Earnings and revenue has seen growth of at least 5% or higher over the last five years, with a beta of 1 or lower.

Do You Know the Top 9 Retirement Investing Mistakes?

Whether you're planning to retire early or not, don't let investing mistakes derail your plans.

If you have $500,000 or more to invest and want to learn more, click the link to download our free report, 9 Retirement Mistakes that will Ruin Your Retirement.

This report will help you steer clear of the most common mistakes, like trying to time the market, lack of diversification in your portfolio, and many more. Get Your FREE Guide NowBristolMyers Squibb Company (BMY) : Free Stock Analysis ReportAmgen Inc. (AMGN) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research

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Easy Investing Secrets to an Early Retirement - June 16, 2020 - Yahoo Finance

They said: I recently switched from meal deals to homemade food. The cost of meal deals is about 720 per year, has loads of sugar, and the drinks are almost all teeth-rotting sugary soft drinks.

My homemade pasta salad, drink and snack is close to 500 per year, has more veg, and I get significantly more food for the same calories. Cost of setup is under 10 for five tupperwares and another couple of pounds for a flask.

Another saver revealed how direct debits could make a significant difference.

They wrote: Keep an eye on mid-contract price rises on broadband, phone and TV contracts.

You can push things in your favour by capitalising on the fact companies often give you a cash reward card upfront upon sign up.

If you cancel six months in due to a price rise, then your monthly cost will drop through the floor.

I just dropped my TV package and my monthly cost is now around 15 per month for 50MB broadband and phone. Small gains all add up.

And a final saver said how they selected to save their money had an impact on the funds they could put aside for their goal.

The person said: I have my committed saving - a fixed monthly amount that automatically goes into investments such as ISA and Vanguard.

Then I have my aspirational savings - an amount Id like to save but might be a stretch.

I move this additional money out of my current account and try not to touch, but it lives in a cash saving account with no penalty for withdrawing.

This way, I dont find myself overcommitting to savings, but it feels good when I dont touch that amount.

Financial independence and retiring early, or FIRE as it is commonly known, is a popular option among many Britons.

The goal is to aggressively save in order to finish work earlier with a significant pot of money from which to live.

Investopedia states that by saving up to 70 percent of annual income, Britons may be able to retire significantly earlier to live off small withdrawals.

Read more here:

Money saving tips: Britons offer key tips to financial independence and retiring early - Express

I am going to pen down my thoughts on an acronym I dislike, but given its popularity, I cannot ignore. The movement that is reframing retirement discourse: FIRE Financial Independence, Retire Early.

I bear no ill towards those who evangelize on the merits of FIRE. In fact, I admire their grit and focus to kick up the 9-to-5 routine and live life on their terms.

I, on the other hand, dont have the courage to contemplate an early retirement, considering lifes unexpected curveballs. Moreover, am shamelessly addicted to the monthly paycheque. Lastly, Im not in the least bit enamoured by the early retirement proposition; I like showing up to work daily.

What grabs my attention is the other part of the equation financial independence. This must form the basis of everyones financial strategy, irrespective of when they plan to retire.

For those who believe an early retirement is some sort of nirvana, here are some pointers to use as a compass to point you in the right direction.

#1. What is it that you are retiring from, and retiring to?

Are you planning to quit working altogether and indulge in hobbies such as gardening, cooking, travel and volunteering for a cause you feel passionate about? You may opt for a partial retirement where you work as a consultant or opt for freelance projects.

Retirement is not a destination, and certainly not a happily ever after reality. You have to plan through it. Building up a retirement corpus is just one aspect. Figuring out your life and how you plan to spend your time is the other. It would be a shame if you attained the financial independence to enable an early retirement, only to be confronted by an existential crisis.

Be sure to ask yourself what it is that is driving you. If it is just dislike for your job and the lack of fulfilment, maybe a thoughtful career change would do the trick. If the long commute and city life are wearing you out, would you be open to relocating? The point I am making is not to assume that the only way out is an early retirement.

#2. Start with a different construct.

The moment you start from a different context, there will be a paradigm shift in your thinking.

Evidently, there are interdependent factors at play. None of the above can be answered exclusive to the other. But this practical approach will throw light on what you perceive as financial independence. Your magic number may be Rs 3 crore, but for someone of the identical age and similar social status, it could be Rs 7 crore.

After all, financial independence is not just a number. It is not about having money to cover all your expenses. It is about psychological independence too. What is the corpus amount that will help you overcome your insecurity? What is the income that makes you feel taken care of?

#3. Are you ready to live frugally?

The harsh reality that underpins it all is the fact that early retirement is predicated on significant sacrifice. Unless you are earning obscene amounts of money, you will have to get thrifty. To retire early, you should be saving at least half of your salary and keeping spending to a low.

Now it need not be extreme like this example of a 36-year old corporate lawyer in New York. He lives in New Jersey to avoid taxes, is reluctant to turn on the heat during winter, and eats mostly rice and beans so that he can save 70% of his salary.

If you are seriously contemplating retiring early, please watch this 12-minute video of a couple who retired before either of them hit 40.

It is tempting, but incorrect, to view financial independence as a pendulum swinging between two extremes - either you are, or not. View it as continuum. View it as a scalable project. With every single decision and every single paycheque, you are moving closer to financial freedom.

#4. Be open to disruption.

Lets assume you retire.

Expenses change. It could well be that your lifestyle has been inching upwards and you need more than what your savings and investments provide for.

You may find that your calculations were wrong; you assumed too low a rate of inflation and too high a return.

You could have a tragedy in the family that forced you to dip into your corpus.

In all the above circumstances, you may have to get back to work.

Keep upgrading your skills. Develop new ones. You need to have something to fall back on should you have to rejoin the workforce. Keep networking, even if it is low-keyed.

#5. It may be wise to take professional help

Financial Independence and Early Retirement are not necessarily linked at the hip. They exist independently too.

To retire, you must be financially independent. Though I do know of individuals who are dependent on their children for support.

You can be financially independent and choose not to retire. Plenty fall into this category.

Retirement is solidly on your own shoulders. Most safety nets have been pulled out. Dont make any decision lightly. The earlier you retire, the more the time your money will have to suffice to out-save inflation and non-working years. Being old and broke is a terrible reality.

Dont be afraid to seek professional expertise.

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Why Early Retirement is a wrong goal - Morningstar India

A new survey conducted during the Covid-19 crisis by Edelman Financial Engines reveals close to half of American workers (47%) say they have "a lot" of financial stress. Those saving for retirement are less likely than non-savers to report financial stress (44% vs. 57%). Gen X and Baby Boomers report higher levels of financial well-being than Millennials, but large numbers of every age group and race are struggling, according to the survey. Among respondents, nonwhite workers are 2.6x more likely than white workers to describe themselves as poor.

Edelman Financial Engines, the countrys largest independent financial planning and investment management firm, surveyed 1,077 American workers the week of April 6, 2020 about their financial stress, economic concerns and use of financial advice. Nearly half of those surveyed reported relatively weak financial well-being across three different measures: level of financial stress, outlook, and ability to handle a mid-size financial shock.

"We are seeing high levels of financial stress among employees and it is impacting many aspects of their lives," said Kelly ODonnell, Executive Vice President at Edelman Financial Engines and head of the firms workplace business. The firm serves thousands of employers, including 137 of the Fortune 500, and its financial advice is available to more than ten million employees. "Companies that give workers better access to financial advice can help alleviate their employees financial stress, leading to increased productivity, lower turnover and reduced absenteeism."

Covid-era Workers Concerned about Income Stability, Resilience of their EmployersAlmost half (46%) of workers say they are "extremely" or "moderately" concerned about the stability of their household income. Among these workers, 85% are concerned about their own job, while 46% are concerned about their spouses income.

The survey also revealed that workers are "moderately" or "extremely" concerned about:

Only about two in five (44%) workers said they would be able to easily come up with $2,000 within 30 days for an emergency. More than 1 in 10 (11%) would not be able to raise any emergency funds at all, while nearly a third (30%) would need to make sacrifices and 14% would have to do something drastic to raise the money.

In the first two weeks of the pandemic, 10% of survey responders exhausted their emergency savings within the first month of the crisis, and one in three reported taking adverse financial actions, such as depleting their emergency savings or stopping contributions to their retirement accounts. Millennials were most likely to take such financial actions.

"Large numbers of American workers are suffering financially, and their plight is likely to linger even after the economy begins to recover," ODonnell said.

Many with high financial stress say it has had a detrimental effect on their work, including decreased productivity, loss of focus, and anxiety or tension in the workplace. Over a third of U.S. workers (37%) believe that they would benefit from receiving financial advice during this uncertain time. Non-savers (43%) and Millennials (47%) feel they would benefit the most from talking to a financial adviser.

Opportunities for EmployersIndeed, the survey revealed many opportunities for employers to help improve their employees financial well-being, such as:

Without these programs and resources, workers may face prolonged and severe financial stress, resulting in decreased productivity, loss of focus, and anxiety or tension in the workplace. During the early days of the Covid-19 pandemic, one in five retirement plan savers said they changed their retirement savings behavior, whether by re-allocating, pausing contributions, or accessing retirement savings pre-retirement via loan or withdrawal.

These actions are often triggered by emotions rather than an informed plan and can threaten a workers future retirement security. "When individuals borrow or withdraw money from retirement accounts, it becomes less likely that they will achieve their retirement savings goals," ODonnell said. "Pausing contributions or making improper risk allocations can also harm them, especially after a market downturn. All these mistakes can reduce their ability to benefit from economic recovery."

Story continues

For more information, visit EdelmanFinancialEngines.com.

About Edelman Financial EnginesSince 1986, Edelman Financial Engines has been committed to always acting in the best interest of our clients. We were founded on the belief that all American investors not just the wealthy deserve access to personalized, comprehensive financial planning and investment advice. Today, we are Americas top independent financial planning and investment advisor, recognized by both InvestmentNews2 and Barrons3 with 168 planner offices across the country and entrusted by more than 1.2 million clients to manage more than $192 billion in assets4. Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every clients situation and goals are unique, and the powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves.

[1] Edelman Financial Engines research. 2019.[2] Ranking and status for 2018. For independence methodology and ranking, see InvestmentNews Center (http://data.investmentnews.com/ria/).[3] The 2019 Top 50 Independent Advisory Firm Ranking issued by Barrons is qualitative and quantitative, including assets managed, the size and experience of teams, and the regulatory records of the advisers and firms. Firms elect to participate, but do not pay to be included in the ranking. Investor returns/experience are not considered.[4] As of March 31, 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200616005169/en/

Contacts

Amy ConleyEdelman Financial EnginesPRTeam@EdelmanFinancialEngines.com

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Financial Stress Escalating Among U.S. Workers During Covid-19 Pandemic; Employers Are Key to the Solution: Edelman Financial Engines - Yahoo Finance

Over the past four months, investors have experienced about a decade's worth of volatility.

Panic and uncertainty tied to the coronavirus disease 2019 (COVID-19) pandemic initially pushed the broad-based S&P 500 into bear market territory in just 17 trading sessions. It ultimately took less than five weeks to knock off 34% of the widely followed index's value. These are the fastest bear market declines we've ever seen on Wall Street.

Image source: Getty Images.

But over the subsequent 11 weeks, the broader market proved unstoppable. As recently as last week, the S&P 500 had bounced more than 40% from its lows and appeared to have established a new bull market. Then Thursday, June 11, happened, and investors were quickly reminded that the coronavirus pandemic hasn't simply disappeared.

Historically speaking, a correction or crash following a major bounce from a bear market bottom is perfectly normal and expected. For investors, these setbacks often provide an excellent buying opportunity to pick up great businesses on the cheap.

Best of all, you don't need a mountain of cash to take hold of your financial independence. If you have $500 you can spare for investment purposes that won't be needed to pay bills or for emergencies, then you have more than enough to buy some of the best stocks during a correction.

Image source: Facebook.

One of the smartest moves you can make when the stock market heads south is to pick up shares of social media giant Facebook (NASDAQ:FB). Although Facebook generates the vast majority of its revenue from advertising, and ad sales are likely to taper off during periods of economic weakness, a short time frame of weaker ad-sale growth should not scare investors away.

Think about it this way: Facebook has 2.6 billion monthly active users (MAU) and 2.99 billion family MAUs. A "family MAU" takes into account the number of MAUs on all of Facebook's platforms, including Instagram and WhatsApp. No matter how well or poorly the economy is performing, there isn't a platform out there that offers advertisers roughly 3 billion eyeballs. This makes Facebook the logical go-to for advertising, as well as gives the company incredible pricing power more often than not.

Perhaps the most exciting thing about Facebook is that its growth story is still in the relatively early innings. Despite monetizing Facebook and Instagram with ads, WhatsApp and Facebook Messenger haven't really been monetized yet in a meaningful way. Additionally, Facebook has only scratched the surface with the potential to utilize its platforms for payments, streaming, and other fee-based services.

In short, buying Facebook on any weakness tends to be a smart move for long-term investors.

Image source: Getty Images.

There's perhaps nothing better than when boring businesses get beat up during a stock market correction. Businesses that are mature and slow-growing may not excite during periods of supercharged growth, but they almost always have time-tested businesses that can undoubtedly survive a recession. That's why AT&T (NYSE:T) and its 6.9% yield should be scooped up by investors.

As some of you may be well aware, the biggest catalyst for AT&T is the ongoing rollout of 5G infrastructure. While it'll be both costly and time-consuming to upgrade its wireless infrastructure, the benefits are clear. AT&T should expect a multiyear technology upgrade cycle and even higher data usage than was seen with 4G LTE networks. That's great news considering that AT&T's wireless division generates the bulk of its margin from data.

Investors should also count on AT&T to deliver healthy returns from its streaming offerings. Though cord-cutting remains an issue with more traditional services, such as DirecTV, the recent launch of HBO Max is expected to offset weakness from traditional cable services.

With AT&T recently shelving its share buyback program to preserve capital and its pristine dividend, income investors can sleep easy at night knowing they're netting nearly 7% annually on yield alone.

A jubilant Warren Buffett at his company's annual shareholder meeting. Image source: The Motley Fool.

When it comes to surefire long-term winners, there's perhaps no investment that comes to mind more than Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B). Warren Buffett's conglomerate has averaged an annual return of 20.3% over the past 55 years, which is more than double the average annual return of the S&P 500, inclusive of dividends, over the same time frame.

By purchasing Berkshire Hathaway stock, investors are effectively making Warren Buffett their portfolio manager. Although diversification isn't exactly Buffett's forte, he does tend to align Berkshire's portfolio with the U.S. economy. This is to say that most of Berkshire's invested assets are held in traditionally cyclical sectors. While economic slowdowns are inevitable, one thing for certain is that the U.S. economy spends far more time expanding than contracting. That bodes well for the make-up of Buffett's investment portfolio.

Berkshire Hathaway is also historically inexpensive. Following Thursday's sell-off, it ended at just 17% above book value. By comparison, Berkshire has ended each of the past seven years valued between 31% and 59% above its book value. Perhaps it's no surprise then that the stock Buffett has been buying most recently is his own. If Buffett is spending billions buying back Berkshire stock, it's a big clue that investors shouldn't ignore.

Image source: Getty Images.

Another top-notch stock to consider adding to your portfolio during a correction is drug giant Bristol Myers Squibb (NYSE:BMY). Although growth stocks have run circles around value stocks over the past decade, it's tough to overlook a highly defensive juggernaut that's now valued at less than 8 times next year's earnings per share.

A big catalyst working in Bristol Myers' favor is the completion of its Celgene buyout in November 2019. Celgene's Revlimid, a cancer treatment most often associated with multiple myeloma, may well become the world's best-selling drug one day. It's protected from a flood of generic entrants through January 2026, and has benefited from a growing number of multiple myeloma cases, longer duration of use, label expansion opportunities, and regular price hikes. For Bristol, it's just the type of cash cow investors can come to appreciate.

Additionally, it would be a mistake to overlook Bristol Myers Squibb's cancer immunotherapy line -- specifically Opdivo. While Opdivo disappointed when it failed to hit the mark in non-small cell and small cell lung cancer trials, it's been approved to treat a laundry list of indications and is already topping $7 billion in annual sales. Considering that Opdivo is currently being studied in dozens of ongoing clinical trials, a push beyond $10 billion a year in sales from label expansion is quite feasible.

Originally posted here:

Have $500? Here Are the Best Stocks to Buy During a Correction - Motley Fool