Thursday, December 9, 2021

She-nanigans: Improvise, Adapt and Overcome

Ask the CFP

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“The future belongs to those who believe in the beauty of their dreams.” ~ Eleanor Roosevelt 


Question: Is it true that in general, women were disproportionately affected by COVID-19 lay-offs and furloughs?

Answer: According to the Bureau of Labor Statistics, fifty-five percent of the 20.5 million jobs lost in April 2020 belonged to women, making it a she-succession. Sadly, this fact reversed a milestone trend in December 2019, when women held more payroll jobs than men for the first time in about a decade. The good news is that whether you were laid off or decided to leave the workforce to address escalating priorities at home, there are options and choices that may lead to success and satisfaction.



Side hustles, gig work, moonlighting and entrepreneurship bloom out of necessity and creativity. The exhilarating part of doing something on your own is that you’re creating your own reality. Innovation and improvisation lead to adaptation. You’ve heard it before; follow your passion to find your bliss. 

Problems lead to Solutions

Our first grandchild was born in 2005, the same year that The Elf on the Shelf tradition went mainstream. Creating creative, inspiring, and fresh format for The Elf to interact with children could be a challenge or an opportunity last year. A woman in Dunedin, Florida came up with a bunch of funny scenarios to enthusiastically engage parents and children on how to have fun with The Elf on the Shelf during 2020. After posting these on social media, other parents asked to buy pre-made kits, and she subsequently prospered to the tune of thousands of dollars just in time for the holidays.

The times, they are a changing. In-person networking isn’t what it used to be pre-Covid. Adaptation and the ability to motivate and educate potential consumers about your service or product requires differentiating your personal brand. The primary purpose may not be on the end result, but rather to help you build and earn trust and illustrate authority on the subject matter at hand. Many are reinventing themselves, so it’s a great opportunity to purposefully discuss what you’re doing with acquaintances as well as tapping into your existing network rekindling relationships. 

Work-life balance was already being phased out for work-life blend, and COVID-19 accelerated the transition. Life has become more integrated than ever before. And, according to a study by McKinsey & Company, certain challenges like lack of flexibility, an expectation of always being “on”, and increasing caregiving burdens are more likely to push women out of the workforce than men.

Companies have realized the need to accommodate employees’ growing need for flexibility and have made adjustments in the name of attracting and retaining talent. DuckDuckGo, a search engine and privacy organization, allows employees to work wherever, whenever. Other companies are offering compressed workweeks, reduced work hours and expanded workweeks.

The world became more digital overnight and new skills are needed to succeed. A survey from LinkedIn Learning found that 64 percent of Learning and Development (L&D) professionals reported training employees to fill skill gaps had grown as a priority during the pandemic.

With few exceptions, the pandemic has prompted evaluation of the work-life balance or blend for women and men. If you’re thinking about changing course amidst the pandemic, consider leveraging your passions as inspiration for starting something new. Consider consulting with your CERTIFIED FINANCIAL PLANNER™ Professional as you set incremental goals with your forward progress. Stay focused and plan accordingly. 

Investing involves risk, and investors may incur a profit or a loss. There is no assurance the trends mentioned will continue or that the forecasts discussed will be realized. Past performance may not be indicative of future results. Economic and market conditions are subject to change. Companies engaged in business related to a specific sector are subject to fierce competition and their products and services may be subject to rapid obsolescence. There are additional risks associated with investing in an individual sector, including limited diversification. There is no assurance that any investment strategy will be successful. The opinions expressed are those of the writer as of March 14, 2021, but not necessarily those of Raymond James and Associates, and subject to change at any time. Information contained in this report was received from sources believed to be reliable, but accuracy is not guaranteed. Past performance does not guarantee future results. Every investor’s situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

“Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.” 

This article provided by Darcie Guerin, CFP®, Vice President, Investments & Branch Manager of Raymond James & Associates, Inc. Member New York Stock Exchange/SIPC 606 Bald Eagle Dr. Suite 401, Marco Island, FL 34145. She may be reached at (239)389-1041, email Website:



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