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The Broadsheet: November 13th

Good morning, Broadsheet readers. Another regular on Fortune’s Most Powerful Women list is leaving her CEO post, and Tunisia has a female presidential candidate for the first time in history. Read on to learn why women around the world don’t view becoming rich as a priority. Have a great Thursday!

EVERYONE’S TALKING

• Pelosi is ready to run. Nancy Pelosi told Politico that if the Democrats had won the midterm elections, she might have stepped down as House minority leader. Now she is gearing up to run for another term. “If they want me to stay, I stay. If they don’t want me to stay, I won’t stay,” she said. Pelosi added that she didn’t think the Republican win signals a crisis within her party. “There was no wave of approval for the Republicans. There was an ebbing, an ebb tide, for us,” she said.  Politico

 

ALSO IN THE HEADLINES

A first in Tunisia. The country, which was birthplace of the Arab Spring, has its first-ever female candidate for president. Kalthoum Kannou, who has worked as a judge for 25 years, is running as an independent among 27 other contestants. “This woman who was able to succeed at home and at work will also be able to help govern Tunisia,” a local Tunisian woman told Bloomberg.  Bloomberg

• Wojcicki’s new model. YouTube CEO Susan Wojcicki announced on Wednesday that her site will soon offer users the option of paying $7.99 a month for extra features like higher-quality audio. The service, called Music Key, will compete with other streaming options like Spotify and Pandora. NYTimes

• Sallie Krawcheck: Being smart is not enough. The Ellevate Network chair writes in Fortune’s MPW Insider Network that a successful career is built on more than just intelligence. If you’re smart, congratulations. “But, confidence — well, that’s the golden ticket.”  Fortune

• 14%. Out of the 78 employees that Goldman Sachs promoted to partner this year, 11 were women. To give you a sense of progress (or lack thereof), that’s the same percentage as two years ago. Fortune

• Gail Boudreaux: ‘I’m definitely not retiring.’ The former EVP of UnitedHealth Group, who announced she would be leaving the company yesterday, was long believed to be a possible successor to UnitedHealth Group CEO Stephen Hemsley. What’s next? “I”m going to be open-minded about it, but I do want to lead an enterprise where I can make a difference,” she told Fortune Fortune

BROADVIEW

For women, being rich is not a priority

When women are asked to imagine success, becoming extremely wealthy is not the first thing that comes to their minds. Instead, across countries and continents, mothers, daughters and wives are more concerned about financial security for their families.

That’s one of the main findings of a survey of women and men ages 21 to 69 in the U.S., Britain, China and Brazil. While economic concerns among both sexes continue to decline, most respondents are still worried about just getting by.

Nearly 80% of women said they’d rather have more money than power or sex in their lives, according to the survey, which was backed by public relations firm FleishmanHillard and Hearst. Yet a deeper dive suggests the drive behind the money is for security as opposed to opulence.

The results have dramatic implications on not just women’s ability to accrue wealth, but also on financial planners. Women are expected to earn $18 trillion in the U.S. this year — 50% more than they earned five years ago. On a global level, by 2030, women will control two-thirds of our nation’s wealth. As taking smart risks with their money falls by the wayside in place of more practical bets like planning a family trip or going out to eat more, women are less likely to invest their money.

What’s more is that women feel increasingly untrustworthy of financial institutions. Only about one-third of women surveyed in the U.S. said they were loyal to one financial services company. That figured dropped to just 16% among women in the U.K. Also, more than half of women in the U.S., U.K. and China reported to be “overwhelmed” by the products and choices available today for financial services.

The cautious and overwhelmed attitude toward financial planners breeds an attitude of self-reliance, says Steve Kraus, senior vice president and chief insights officer of Ipsos MediaCT’s audience measurement group, the third-party organization that conducted the report’s research. This leads women to believe that saving their money for a rainy day is better than taking it to a “big bad bank.”

“It is men who are more likely to say that they want to start spending again, and it is men that are most likely to say that I am going to invest in the coming months,” says Kraus. “There is not a lot of trust in financial brands right now, and we see growing numbers of women feel more self-reliant.”

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IN CASE YOU MISSED IT

• Ban feminist? Time launched an online poll asking readers to pick a word that made them “cringe” so much in 2014 that it should be banned. Among choices like “literally,” “bossy” and “obvi” is “feminist.”  Time

• Julia Collins is back. Collins, who holds Jeopardy’s second-longest winning streak with 20 consecutive wins, is back on the show for this week’s Tournament of Champions. Collins also has won more games than any other woman.  Patch

ON MY RADAR

There’s never been a better time to be a ‘mompreneur’  Entrepreneur

Here’s what really makes a great board of directors  Fortune

How to spend the last 10 minutes of your day  HBR

QUOTE

When you break glass ceilings, you’re going to get minor scrapes by a shard or two from the glass. But what I really focus on is the hard work that we have in the these last two years.

Senior Advisor to the President Valerie Jarrett comments on recent criticism that she is too close to Barack Obama to be an effective advisor.