Women - Talking Money

When I'm curious, I take surveys to answer the questions that are spinning around in my head. I turned to women I know and began to ask one question - a question I put to you right now. 

'What are you doing now to make sure you'll have financial well-being for your life when you ease out of working?' 

Will you reach a point in your life that you work because you want to and not because you have to?

The first time I posed my question, I asked my friend during a catch-up brunch date in the City. 'You know, we've both made a lot more money than we ever expected when we planned our careers. But where are we going to be when we're 70  years old? What are you doing to make sure you don't end up broke?'. She turned to me and said, 'Well, I have a car and a house, and that's about where I am right now she said. 

A few days later, I talked to another dear friend. She gave me the same answer: She had a car and a house. A pattern was emerging. I pressed on. 

That night, I called a woman I had known since University. We often chatted by phone just to stay in touch, but rarely saw each other as I had moved overseas. I asked her the same question. 'We own an Apartment here in the city and my Husband and I both have a car so we can take the kids to Daycare,' she replied

I even talked to my hairdresser who I have been visiting for years. Guess what? She owns a three-bedroom house in the outer suburbs, and yes, a car.

The pattern was clear. My friends were 'investing' in houses and cars and then stopping because they, too, hadn't come up with any good strategies for growing their money. 

Our parents, our schools, our employers, our financial institutions, our popular culture-not one had taught my friends and me how to employ our money as part of our younger years. Something was seriously wrong. 

Where we are today regarding money matters is very much where we were two decades ago regarding personal fitness. At one time it was commonly believed that if you ran at full speed, jumped up and down a lot, and sweat profusely, then you would eventually become physically fit and thin. 

Today the more accepted wisdom is that old-fashioned anaerobic exercise-the kind in which you're moving so hard that you can't talk-actually sends your body into survival mode. As a result, the body stores fat, probably defeating any weight-loss or health goals you seek through exercise. Now we know that a regular walk in the park that involves both your body and mindset will produce consistent physical and mental benefits. 

When it comes to money, you can employ these same strategies. And we can find other examples of common beliefs that are now outmoded: for example, our past beliefs about nutrition. When I was growing up, we were told to eat three large, balanced meals a day in order to be healthy and fit. Today, many nutritionists and doctors say that four or five smaller, low-fat meals-one or two of them being fresh fruit or vegetables and no meat -make a more healthful diet. Thankfully, the word about proper exercise and diet is spreading rapidly among women of all ages. 

But many women are still in the dark about money matters and the effective strategies to financial health. Financial institutions itself deserves much of the blame. At many of the major Wall Street brokerage houses I researched, the primary approach to building wealth was to make big chunks of money for the client-and, more important, for the broker-all at once. 

No value was placed on slowly, patiently building a bundle for the future. If you buy into that living-for-the-moment rush, then yes, the risks are very high, and the anxieties of first-time investors are an understandable reaction to the frenzied Wall Street approach. 

But beneath the hype and excitement of the 'fast money'game is the real motive for the financial industry: generating the highest possible commissions for unscrupulous brokers and increasing the wealth of the firm. 

I noticed that the investment information itself wasn't too tough to understand, but it was often presented in a jumbled manner that was heavy on jargon and short on simplicity and logic. It seemed that someone deliberately wanted to make financial information confusing to the average consumer.

I noticed also that brokerage statements presented information in ways that confused clients like myself and often omitted essential information-like what I as a client paid for a specific investment and its current value. With a little effort to straighten it all out, though, and to put it into sensible language, nothing was particularly difficult to understand by me or my girlfriends. 

Eventually, I realised that the financial community is interested more in separating us from your money than in building our wealth. As a result, investor education is a low priority. Even those who worked in major Financial Institutions in the Square Mile, Canary Wharf and Wall Street, making your investments were never really taught how to handle our own personal finances, or to lead others to grow wealth. 

'You mean you knew how to invest other people's money but not your own?' - you ask. No. It wasn't that. 

The point is that the likes of the Square Mile isn't really interested in investing your money, only in getting you to spend it. Let me explain. 

The Square Mile has taught the investor to 'buy in greed and sell in fear.' What does that mean? I'll give you an example: Your broker calls to give you the following hot tip: 'ABC stock is really HOT. It's about to go through the roof. You should buy it. Well, if you have some cash sitting in your bank account, you may well say okay and take the plunge. 

Several weeks later, the price of the stock has declined and you begin to get nervous. What happened to that great opportunity? Your broker's answers are confusing, even evasive. Naturally, you think, 'I really wouldn't want to lose all of my money.' So you opt to sell the stock. 

Bottom line-you did this - you bought in greed and sold in fear. The only person who benefited was the broker, who made commissions on both the buy and the sell.

Now's the time to develop and rely upon your own judgment when it comes to making your dollars work for you. 

Decades ago, many women went to male doctors, who often didn't listen to what a woman had to say about her own body, but who presumed to know all the answers himself. This happens to women and their money, too-a woman's competence is questioned and she may be treated like a baby.

 For women, the path to building wealth is using self-knowledge, making more personal decisions, preserving their power to choose their own direction - and being aware of and expanding their financial choices. Every woman needs financial legs. We live in a time when a woman can advocate for her own financial well-being - this makes it the best of times to secure our financial futures. 

Adapted from Article Source: https://EzineArticles.com/expert/Joan_Perry/216137

Women, Wealth and Marketing

The traditional sources of wealth for women have historically been through inheritance from our parents or our deceased husbands, or from financial gain from the divorce of a wealthy husband. Whilst these methods for achieving wealth are still evident, an increasing number of women have created our own wealth through either our job or the ownership of a business, which is independent of our husband and or family. 

Whilst men's major motivation for starting a business is financial gain, women tend to cite flexibility, freedom (from corporate structures and politics), being more present with our Children and financial gain as the main reasons for setting up on our own. 

Motivations for amassing and protecting wealth are almost identical for men and women. Financial security in retirement is seen as the main priority followed by a better personal lifestyle and enjoyment of the finer things in life. In other words the goals appear to be neatly divided between spending on the present and saving for the future. More intangible factors such as status and the sheer enjoyment of making money, come much further down the list. 

Women want wealth to enjoy a better lifestyle. We spend our leisure time and disposable income on holidays and home improvements, just like men. The only significant difference in spending is that men are likely to spend a greater proportion of their disposable income on cars and gadgets whilst women focus on clothes, jewellery, bags and shoes ' so far the cliché holds true. 

However, women do invest quite differently to men. We are far less likely to take risks with our money, whether within our personal finance and/or business affairs. Research suggests that more men than women invest in financial products that are considered to be at the riskier end of the financial spectrum such as hedge funds, private equity, derivates and Crypto (including the use of leverage across these investment classes). 

Women tend to take longer to come to a decision about what to invest in and are less likely to go to a third party for advice than men. Men are more likely to consult tax specialists, accountants, private banks, brokers and the media. The only source of advice that is more widely used by women than men is the high street bank. 

This does not mean they are less successful or able investors than men. It's just not clear to us about where to get started or who to trust, which is why we created Femvestors Global.

Wealthy men are more likely to use personal trainers, chauffeurs, chefs, alternative health practitioners, property search agencies, lawyers and private banks than women. However, wealthy women are more likely to use what may be considered 'lifestyle' services such as personal concierge and shopping services, life coaches, personal trainers, personal stylists, bodyguards and private doctors. Women tend to invest to reach a particular goal, for instance, an education fund, retirement, a major holiday.

Once the investment goal has been reached, women are more likely to 'protect' the fund rather than put it at risk through further investment. So what are the conclusions that can be drawn about marketing financial products and services to high net worth women: 

1. Whilst products do not have to be marketed as a 'women only' product, they do need to provide clear, comprehensive information from which we can make an informed choice. As many of the women will be making investment choices without the benefit of advice from independent advisors or tax specialists, everything produced must be jargon free and in plain English. Provide well researched information and support when required. 

2. Building a relationship through education. Providing information to women on financial matters that may concern us, in regards to age or lifestyle. 

3. Develop products 'themed' around issues such as 'wedding', 'education fund', 'retirement' . Encouraging us to continually invest for our future selves

4. Women do hire personal trainers and are prepared to pay for the personal touch. A 'financial coach' may be the incentive a woman needs to invest in a particular product or organisation

Inspiration from Article Source: https://EzineArticles.com/expert/Pam_Kennett/31862

Ladies- Why we prefer the safer option of investing in property

Historically, women lacked the resources and confidence to enter the property market, but trends show that as more and more of us women are occupying higher paid jobs, we are becoming more proactive investors and taking charge of our finances.

It has been shown that we have a preference for property investment, when compared to other riskier forms of investing. 

But what is actually driving this pattern for investing? 

Many of us who might previously have felt low in confidence, now have the knowledge and tools to make informed investment and property decisions right at our fingertips. 

We are turning to the internet as the source of our property investment advice. The availability of information has empowered many of us, giving us the initial confidence to take to the property market. 

However, despite the advantages the internet offers, female investors should be aware that nothing can replace the advice of a trusted financial "Fiduciary" professional and obtaining sound investing advice. In addition, we need to also look to Property experts familiar with the local area we are looking to invest in. 

With our increased financial freedom, we are recognising that a man is not the ultimate financial plan, and that we have the ability to plan for our financial future - regardless of our relationship situation. 

We are educating ourselves about investing and choosing the best investment portfolios based on our desires and needs. 

As we are generally perceived as more cautious investors than men, preferring to invest our money in options with lower risk. It is usually because we see the tangible investment of property (as we can see, touch and feel), which we recognise as a more stable and safer investment choice. Money invested in the property market can also provide long-term returns and reliable income through to retirement if managed correctly. 

Property also offers a sense of control and the opportunity to make an investment property our own is also attractive for us women, who are instinctive nurturers by nature. By turning a property into a home, this also contributes to our sense of enjoyment and ownership. 

With property, we also have the option of purchasing a lower-end investment, and through our own personal efforts and investment into home renovations, increase the value of our investment. 

As the number of women in property continues to rise, we pioneering ladies are paving the way for the success of other female investors. Financers, developers and realtors are all taking notice of the trend and providing property options tailored to the needs of women. The property market is no longer a male-dominated investment arena. With our newfound financial freedom, we are growing more proactive with our investments and our confidence is increasing.

Investing our money in the property market can provide a stable, safe return over the long term. This reliability is something we women want and appreciate. 

 Article Source: https://EzineArticles.com/expert/Kathy_E_Roberts/1202759

Why Women Make Great Investors

Women really do make great investors. Why? Because investing is about more than just math and numbers. 

Women are becoming more and more deeply invested in their own financial success for many reasons: Careers are being pursued and marriage is being delayed, divorce rates are higher than ever, single-mums and women who are the sole or main breadwinner in the family are increasing, cost of living is rising steadily, job security is virtually non-existent...the list goes on. There are no guarantees in life and situations can change drastically in the blink of an eye. Independence and self-sufficiency are more than just words; they are a gateway to freedom. Women are no longer content or willing to be dependent on others for their quality of life. 

A lot of the Myths about Women and Money floating around out there are simply false. Statistics show that women are blowing the stereotypes out of the water when it comes to money and investing: Women are MORE likely to join a retirement plan, women save on average 10% MORE than men, women actually spend LESS than men, and women are MORE likely to diversify their investment portfolio. 

True power and independence happen not when you HAVE money, but when you know how to MAKE money. 

Just ask any lottery winner or divorcee who has blown through a divorce settlement trying to sustain a champagne lifestyle on a beer budget! A lump-sum goes away pretty fast when there is nothing in place to replenish it. The first step is learning about Assets & Liabilities; the next step is doing something with that knowledge. 

As Rich Woman Coach Nichole explains in a video Coaching Tip about Women and Investing on Robert Kiyosaki's Rich Dad website, there's a lot more to successful investing than just numbers and calculations. The Rich Woman coaches identified their top 5 characteristics that make women great investors: 

• Asking for help 
• Planning 
• Multitasking 
• Diligent research 
• Value shopping 

Let's take a closer look at these strengths, how they each contribute and add up to a Great Investor Profile: 

Asking for Help. Women typically know how to ask for help when they know they need it. And in my experience, more often than not, they prefer to ask other women. Have you noticed all the networks and clubs and resources that are geared towards supporting women in financial and business endeavors? The Daily Worth, WomenOwned.com, Ladies Who Launch, National Association of Women Business Owners (NAWBO), My Wealth Spa to name a few. Many of these were created or developed just in this past decade. Women seek and value mentors that can support and assist them in a non-intimidating, non-judgmental forum. Although men often view women's lunchtime or evening gatherings as a sewing circle gossip session, women frequently use friends and colleagues as sounding boards for new ideas, thoughts and perspectives. Brainstorming and round-table sessions are becoming more and more mainstream, even in the 'Old Boys Club' organisations because there is strength and power in teams and in seeking outside opinions and help. 

Planning. Most women become good planners by necessity. Often in addition to full-time employment or business owneship, women take on, or inherit by default, the monumental task of running the household, juggling kids activities, making and keeping family appointments, planning and organising family holidays, meals, etc. It takes a lot of planning and organisation to make sure everything runs smoothly from day to day and week to week. Investing demands a similar kind of planning and organisation to be efficient and get the most out of your capital. The ability to make and stick to short and long-term goals is important but having a system to monitor and track it all is priceless, especially when it comes to finance and investing. 

Multitasking. Women are also known to be exceptional multitaskers. Handling several issues or tasks at once is all in a day's work for most women. This translates well into the world of investing because there are always many different things going on in many different markets and across many different asset classes. Women who are able to see various market factors and how they can affect an investment will be much more able to predict possible outcomes and proactively make adjustments as needed. Diversification is also easily appreciated and accepted by women who are more likely to hedge their bets as opposed to going all in on black or red at the Roulette table.

Diligent Research. Women know how to do their homework. They are used to budgeting, comparing prices, finding the right pediatrician, school, camp, mechanic, gardener, insurance, etc. In finance and investing, this means that women know how to investigate and identify investments that will work best for them. Investing involves a LOT of research. 'Due Diligence' is an investment term that refers to the process of verifying data presented, investigating the investment parameters and terms so that the investor can make an educated decision to purchase or decline. As a real estate investor, I screen and analyse literally hundreds of properties before finally deciding to offer in on one or two. Diligently investigating the investment and the people involved is a crucial step in protecting your investment funds up front and finding a good fit for your specific purposes. 

Value Shopping. Warren Buffet once said, "Price is what you pay; value is what you get." Women seem to intrinsically know how to stretch a budget and shop for bargains. They are aware of what's available, what the going rates are and will go clear across town to get something at a discount. Women know that it makes sense to get a designer gown at half price if they are willing to find and sew on a couple of missing buttons. Investing for value or value-add opportunity follows the same principles as shopping for any kind of bargain. You need to have a good idea of the general market value so that you have a benchmark to evaluate the investment you are looking to purchase and know when it's priced below its true value, or when a few simple steps are all it takes to realise its potential (add value, like sewing on a button). Once you know what to look for, it gets easier to spot the gems. Finance and investing may seem like a spider's web of intricacy and detail but understanding the rules and knowing how to filter out the junk makes it a lot easier. Women have the skills and qualities to excel in the investment arena on their own terms. Women really do make great investors! 

"A woman is like a tea bag; you never know how strong she is until you put her in hot water." 

~ Eleanor Roosevelt ~ 

Source: https://EzineArticles.com/expert/Jacqueline_Ross/778975