Healthy Habits for Female Investors
Women today are placing a great emphasis on helping the world at large, whether it involves financial support or volunteer work. Women love making an impact!
Women control 52% of the wealth nationwide, which is expected to grow to an estimated two thirds by 2030*. Given this wealth, it’s crucial women understand how to best manage their assets and have healthy habits in place. Here’s a few thoughts I’d like to share:
1) Know that you don’t need to be an expert to hire an expert. Get a referral to an expert that acts in your best interest (fiduciary) and don’t be shy about asking questions. Lots of questions.
2) Stay engaged and informed. Take advantage of educational opportunities, understand your beliefs about money (we all have a money story) and learn the fundamentals of financial planning. This will help you gain confidence in your financial journey.
3) Avoid second guessing yourself. Women investors are detail oriented, tend to be risk-aware and understand the concept of long-term investing. Give yourself credit where credit is due.
4) Focus on being a long-term investor. We understand that volatility can be scary, which is why we like to focus on the tools that we feel make for good investing decisions: Faith, Patience and Discipline. Faith that over time, our economy will grow, expand and continue to move forward. Patience and understanding that there will be times when things aren’t working in your favor. Ignore the noise and don’t chase the ‘next best thing.’ Discipline to stay the course, having the faith and patience we discussed. Have an investment process and plan in place.
In the end, there is no ‘one size fits all’ solution. Our individual journeys shape our financial needs and preferences. There are certainly more aspects to creating, and maintaining wealth, but these habits are a good place to start. We love being a part of inspiring women to achieve more, create more wealth and impact the community they love. Big things can happen when we step into our greatness!
We are here to answer any questions you may have and welcome the opportunity to serve you in your financial journey. Call us today for a complimentary consultation or book on our website.
*National Association of Women Business Owners, 2017.