A few weeks ago, my 20-year-old twin daughters decided to add a new challenge to their lives—one that has the potential to set them on a path to building extraordinary wealth and gaining the freedom of time to enjoy life on their own terms.
This challenge started off as a conversation about success, but the more we talked, the more excited they became, and voilà, a thought turned into a plan, and a plan turned into an actionable challenge.
So here’s the gist of the 500×500 Challenge. The 500×500 Challenge is a personal challenge to save and invest $500, 500 times. This challenge, however, is more than just saving a quarter-million dollars. This challenge is about empowerment—personal empowerment, financial security, and economic independence.
Too often, women find themselves struggling in the grip of toxic realities that force them to keep their heads down and accept less than what they are worth. Too many women are being asked to play by the rules and abide by standards and norms that are designed to “keep them in their place.”
These challenges women face often began in childhood as young girls. Girls are taught early in life to walk a tightrope of being beautiful and polite, and being assertive and competent. Demonstrating problem-solving skills and taking initiative are viewed as masculine traits. Unfortunately, repeated exposure to these stereotypes validates and perpetuates them, so much so that employers feel they can mistreat, marginalize and pay women less than men for doing the same work. The fact is, extreme economic and gender inequality is a threat to young girls and women’s rights.
Here’s another consideration. Although you might not be able to disrupt gender and economic inequality on a macro level, you can be proactive in your own personal and professional development. It is up to you to take ownership of your life because no one else is going to solve your problems for you.
By taking an enterprising approach to personal empowerment, financial security, and economic independence, you can transform your life and the lives of other young girls and women for the better. Join my daughters and women around the globe as they strive to create a more equitable world.