Parenting can be stressful. Between juggling busy schedules, managing family expenses and investing in your family’s future — whether it’s saving for a home, a college education or retirement — it can be tough to balance it all. 

And finding balance can be especially hard on women. According to a study from the Proceedings of the National Academy of Sciences, women are still more likely than men to take time out of the labor force or reduce the number of hours worked because of caretaking responsibilities. The “motherhood penalty” is a significant contributor to the persistent gender pay gap and the underrepresentation of women in leadership roles globally, according to the World Economic Forum.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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