Women are an underrepresented group in the financial industry. They have been largely ignored as potential investors and, as a result, marketing strategies to draw in investors are more male-focused. However, women have valuable traits, such as being more risk-averse and having a keener emotional intelligence. It has also been proven that once women make an investment decision, they stay with that investment to maturity, whereas men have a tendency to chase a quick gain over a long-term strategy.
The last 40 years have brought about monolithic levels of gender equality and, as with all change, there are teething issues that take a while to see or iron out. One of the biggest issues is that women have not been taken seriously as investors, not through any malice, but through oversight. The industry has been so used to focusing on males as the core investor that products and services are marketed for them.
You would be interested to know that women make up the majority of my retail investor base, and not all are high flying, corporate investors. They are single mums, retirees and women from all stages in life. And, sorry to my male investors, but they are the easiest investors to deal with. They ask very probing questions, and they study the investment materials. I find that women investigate from a neutral position, not an emotional one.
What are the benefits of investing for women?
As with any gender, investment is security in your future, however there are added life risks for women and, as someone who was raised by a single mum, I can talk firsthand to the sacrifices that mothers make for their children. It is incredibly hard for a single mother to focus on tomorrow when they must keep little people alive today. And this is why it is so important that women take an active role in their financial future through investment – you never know what tomorrow will bring.
How can you start investing without a lot of money?
One of the most important things to do when you’re just starting is to educate yourself about investing. The more knowledge you have, the better able you’ll be in making smart decisions that will lead to a secure financial future for your family and loved ones. My latest work, MONEY, THE BOOK contains some excellent information on how you can start investing without a lot of money.
Investing is a great way to grow your wealth and increase its value over time. But for many women, investing can be daunting because it’s not their primary area of expertise. Fortunately, there are some tried-and-true strategies you can follow so that you feel confident in the investments you make with your money!
If you are a woman and thinking of investing, it is important to know that many strategies are available to help you achieve your goals. I would recommend getting as much advice as you can. Financial planners and accountants are a great place to get general advice, as well as find specific investments, or to vet investments that you find to ensure that they are above board. Another amazing resource is to join a community and there are quite a few amazing female-focused financial communities that you can join that teach financial wellness. Take a look at Ladies Finance Club. I have had the great privilege to speak with Betsy Westcott who is a financial wellness coach and ambassador for the club.
I hope you have found this article helpful. And if there is any advice from my own life I can give, it is that it doesn’t matter how humble your beginnings or your level of education – only you are the master of your future.
Until next time, take care,