Disclaimer: This Inside South Florida segment is sponsored by Amerant Bank. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
As we celebrate Women’s History Month, it is crucial to recognize the gender pay gap that continues to impact women’s financial security. Amerant Bank is committed to helping women gain financial freedom by providing the tools and resources necessary to support their careers, savings, and investments. Inside South Florida visited Amerant Bank’s Coral Gables location to speak with Becky Castillo, SVP Private Client Team Leader, about the financial challenges women face and the solutions available to help them build long-term wealth.
Despite significant progress, women still earn less than men on average, which slows career growth and affects their overall income. Many women also take time off work to care for children or elderly family members, making it more difficult to accumulate savings and plan for retirement. These financial hurdles often lead to long-term economic disadvantages, making it essential for women to have access to the right support systems and guidance to close the gap and achieve financial security.
To help address these challenges, Amerant Bank, a trusted institution for over 45 years, has taken a leadership role in financial empowerment. With a women-led board of directors and executive team, the bank offers financial literacy programs, personalized financial advice, and expert guidance on retirement planning and investments. These resources equip women with the knowledge and strategies needed to take control of their financial future.
For women entrepreneurs, Castillo emphasizes the power of networking as a key component of success. She encourages women to attend networking events, actively engage on LinkedIn, and establish strong business relationships. By building a solid network and effectively branding themselves and their businesses, women can increase their opportunities and expand their professional reach.
For those just beginning their financial journey, Castillo recommends setting clear financial goals to determine what they are saving for, whether it be retirement, a vacation, a child’s education, or an emergency fund. Creating a budget is another essential step in understanding income, expenses, and savings potential. To develop healthy financial habits, Castillo suggests automating savings by setting up direct transfers to a savings account and maintaining discipline in spending. Avoiding unnecessary expenses and holding oneself accountable are also key components in achieving financial stability and long-term success.
Women seeking financial guidance, investment opportunities, or a solid strategy for managing their money can visit AmerantBank.com/Private to learn more. By leveraging the right tools and knowledge, women can bridge the gender pay gap and build lasting financial security.
