Just over half of American women twenty-five and older report that they do not consider themselves financially secure and are concerned and worried about their retirement. Financial struggles due to the gender pay gap, motherhood penalty, and systemic bias over time can lead to additional stress and potentially impact mental health. In fact, women, Gen Xers and lower earners are more likely to say that lack of money has a negative impact on their mental health. The result is a low level of self-esteem that affects productivity, career decisions, life satisfaction, and income.

A new study by Paradigm for Parity takes a close look at how these financial burdens specifically impact Black women in the workplace. Paradigm for Parity coalition supports companies around the world in achieving their commitment to gender parity including racial equity in corporate leadership. The report, funded by the Black Women Impact grant through the Goldman Sachs One Million Black Women Initiative, is a first-of-its-kind report on the impact of personal financial stress on Black women (ages 18-65) in the workplace. It reflects the broader systemic issue of the financial burdens facing Black women today, not just in their day-to-day lives and mental health, but in their long-term career trajectories and financial well-being.

Findings show that lower wages add to the financial stress which hinder Black women’s ability to focus at work, affect their overall performance and limit opportunities for professional development and career advancement, thus keeping them in lower paying jobs which further perpetuates the cycle of financial stress.

Read the full article on Forbes.com.